Estate and Gift Tax Planning

Everyone is familiar with the expression, “You can’t take it with you,” but when it comes to leaving wealth behind, you have some control over whether it falls into the hands of your loved ones, or falls prey to estate and gift taxes.

At Gudorf Law Group, LLC, we know that wealth preservation and tax management are among our clients’ primary concerns. State and federal tax law are constantly changing; laws regarding estate and gift tax are no exception. Our legal and financial professionals maintain the most up-to-date knowledge of gift and estate taxes in order to help our clients maximize the wealth they transfer to future generations.

Gudorf Law Group takes into account all facets of each client’s estate planning goals, including maximizing tax benefits, in order to bring those goals to fruition. A comprehensive plan may include the transfer of wealth during a client’s lifetime, through his or her estate after death, or a combination of both.

Effective Planning to Minimize Estate Taxes

Many of our clients have high net worth, and minimizing estate taxes is therefore an important goal. Gudorf Law Group conducts a comprehensive analysis of each client’s circumstances to develop a customized plan for wealth preservation. We consider all applicable federal and state post-mortem tax exemptions, and employ a variety of mechanisms to reduce the amount of estate tax due. These strategies include:

  • Lifetime Trusts
  • Family Limited Partnerships
  • Charitable Remainder Trusts and Charitable Lead Trusts
  • Re-titling assets between spouses
  • Life Insurance Trusts
  • Qualified Personal Residence Trusts
  • Grantor-Retained Annuity Trusts

Each client’s situation and wealth preservation needs are unique. We apply our knowledge and experience to your circumstances to bring about the outcome you and your family need.

Tax Planning for Lifetime Gifts

Gudorf Law Group helps clients make short- and long-term gifts to protect their own financial security during life, and to minimize future tax consequences, including Generation Skipping Tax (GST), for future generations.

Among the options we explore with our clients are:

  • Irrevocable Gift (“Crummey”) Trusts
  • Uniform Gifts to Minors Accounts (UGMA)
  • Uniform Transfers to Minors Accounts (UTMA)
  • IRS-Approved Section 2503(c) Trusts for Minors
  • Section 2503(e) Transfers for Qualified Education and Medical Expenses
  • Section 529 Qualified State Tuition Program Plans

Gudorf Law Group knows how important it is to our clients to preserve the fruits of their labors for their loved ones. We look forward to partnering with you to address your estate and gift tax planning needs. Contact Gudorf Law Group using our online contact form or at 937-898-5583 to schedule a consultation.

Schedule a Free Consultation

Testimonials

Ted is an experienced and talented law practitioner. He is remarkably distinguished in the areas of estate planning, estate administration, business planning, and asset protection and is able to aptly serve his clients with skill and professionalism.… Read More
– Kellie Snyder, Marketing Intern, Gudorf Law Group, LLC, reported to Ted at Gudorf Law Group, LLC

View All Testimonials

closeClose