AshleyCrispin Ackal Trust Litigation Lawyer West Palm Beach

Ashley Crispin Ackal Trust Litigation Lawyer of West Palm Beach Discusses Estate Tax Planning

Estate Tax Planning Is an Important Topic and Ashley Crispin Ackal Trust Litigation Lawyer of West Palm Beach Is Here To Review Some Important Tips

When people pass away, they often assume they can pass down their assets to their heirs. According to Ashley Crispin Ackal Trust Litigation Lawyer of West Palm Beach, the estate tax may prevent this from happening. The team from O’Connell & Crispin Ackal PLLC is here to discuss this issue.

Ashley Crispin Ackal Trust Litigation Lawyer of West Palm Beach Explores the Importance of Starting As Early As Possible

When it comes to estate tax planning, Ashley Crispin Ackal Trust Litigation Lawyer of West Palm Beach encourages everyone to start as early as possible. The sooner people start planning to pass down their assets, the more time people have to maximize the inheritance of their children. For example, there is a difference between giving assets away while families are still alive and trying to pass them down in a will. Ashley Crispin Ackal Trust Litigation Lawyer of West Palm Beach has the expertise to help families navigate the important implications of the estate tax and the gift tax.

Ashley Crispin Ackal Trust Litigation Lawyer of West Palm Beach Reviews the Regulations Surrounding the Estate Tax

Ashley Crispin Ackal Trust Litigation Lawyer West Palm Beach (3)Ashley Crispin Ackal Trust Litigation Lawyer of West Palm Beach knows that many people are still trying to learn the regulations surrounding the estate tax. For every dollar above the estate tax exemption, the assets are taxed at 50 percent. This includes not only financial accounts but also real estate, cars, jewelry, and even life insurance benefits. With help from Ashley Crispin Ackal Trust Litigation Lawyer of West Palm Beach, it is possible for families to minimize their exposure to the estate tax as much as possible. For example, families might be able to use something called trusts to transfer ownership of their assets from their name to the trust. That way, when they pass away, the assets are already owned by the trust and do not count against the estate tax. This is how families can maximize their inheritance.

Ashley Crispin Ackal Trust Litigation Lawyer of West Palm Beach Discusses the Importance of Passing Assets Down To Heirs

In the end, it is important for all families to make sure they get to decide what they do with their money. Ashley Crispin Ackal Trust Litigation Lawyer of West Palm Beach knows that everyone has already paid either capital gains taxes or income taxes on their assets. Therefore, there is no need to do so twice. Furthermore, knowing that even life insurance benefits can be taxed, it is critical to plan as early as possible. This is where Ashley Crispin Ackal Trust Litigation Lawyer of West Palm Beach can lend a helping hand to those in need.

Leave a Comment