Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

DOES ESTATE PLANNING INVOLVE TAX PLANNING?

April 26, 2017estate planning involve tax planning

0

10 Posted

DOES ESTATE PLANNING INVOLVE TAX PLANNING?

1 Answer

0

10 Posted

Often the creation of a will or a revocable inter vivos trust will involve substantial tax planning, particularly for larger estates. Estate planning generally focuses upon federal estate (death) taxes, but also may encompass income, gift, real property or qualified retirement plan taxes. Federal estate taxes are imposed upon an estate which has a value of $600,000 or more. Although significant federal estate taxes can be saved by proper estate planning, the planning usually must occur before death. Qualified legal advice about federal estate and other taxes should be obtained during the estate planning process.