Helping Floridians reduce their tax burdens
Reducing the tax burden is one of the primary goals of estate planning, but doing so effectively requires the skills of experienced estate planning attorneys. For large estates, various tools exist to reduce the size of the client’s estate through lifetime gifts and other tools available to reduce the size of a client’s taxable estate, thereby reducing the burden of federal estate taxes. At Burke Blue, our estate planning attorneys use their substantial knowledge of tax and estate law to help clients minimize their tax burden.
Federal and state tax laws are constantly changing and can have a huge impact on the value of your estate. Larger estates may face the particularly burdensome estate tax, but even smaller estates can face substantial tax issues. Our estate planning lawyers can help you minimize the burden.
Tax issues during life
In large transactions, tax implications can be a substantial factor. Gift tax, capital gains tax and other federal, state and local taxes can add a significant expense to many transactions. Fortunately, it is sometimes possible to legally reduce, eliminate, or defer this tax liability by conducting transactions in certain ways. These tools may not be available in all transactions and may have varying effects depending on individual circumstances but sometimes can result in a substantial tax burden reduction.
The same in-depth knowledge of tax law that makes the attorneys of Burke Blue effective estate planning lawyers can also help you minimize the tax consequences of inter vivos (during life) transactions. An estate planning attorney at Burke Blue can review a transaction to determine if there are tax issues, suggest how best to resolve or eliminate those issues and help take the steps necessary to do so. Our estate planning lawyers remain continuously apprised of the latest changes in state and federal revenue codes and regulations, and use that knowledge to help you minimize tax liabilities to the greatest extent practicable.
IRS Circular 230 Disclosure
To ensure compliance with requirements imposed by the IRS, we inform you that any U.S. federal tax advice contained in this document is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code, or (ii) promoting, marketing, or recommending to another party any transaction or matter that is contained in this document.
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