Estate Tax Planning

There is a Federal Estate Tax for all residents of our county, which is a very large and burdensome tax. Most everyone has already paid income taxes during the years of accumulation of our assets, and the Federal Estate tax is actually a double tax, as the assets that you own are being taxed again at death. The tax is on all of a persons assets; home, investments, automobiles, personal property.

There are marital deductions, charitable deductions, and credits available to offset or totally eliminate this tax. Effective January 1, 2011, there is brand new law affecting everyone in regards to estate tax planning, and regardless of when you last did any estate tax planning, your documents need to be reviewed now to have them updated to the new law.