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How To Legally Reduce The Potential Taxes On Your Estate

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Thomas Curtiss Jr.

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How To Legally Reduce The Potential Taxes On Your Estate

How can I legally reduce the potential taxes on my estate?

A client with an estate with a potential federal estate tax exposure can reduce the potential taxes on his estate by two means. One is during lifetime, by making gifts to third parties. Completed gifts to third parties will remove from the estate future appreciation and so reduce potential taxes. The other way to minimize or avoid estate taxation is by use of the marital and charitable donations. The normal exemption right now is $2 milllion. If the amount in excess of that $2 million, instead of being taxable, it goes to a charity or to a surviving spouse. In this case there will be no estate tax, to the extent that that deductible amount represents the entire amount over the $2 milion.

Thanks for watching our video How To Legally Reduce The Potential Taxes On Your Estate For more how to videos, expert advice, instructional tips, tricks, guides and tutorials on this subject, visit the topic Estates & Trusts.

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How To Legally Reduce The Potential Taxes On Your Estate

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How can I legally reduce the potential taxes on my estate?

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How To Legally Reduce The Potential Taxes On Your Estate

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