Woodland Hills Estate Tax Planning Attorney

Helping clients through high net worth estate planning

People create estate plans to provide for the future of their families and loved ones. No one wants to see their assets used to pay taxes unnecessarily. Estate tax planning involves working to protect your assets for your future beneficiaries. At The Law Offices of Yacoba Ann Feldman, we will create an effective strategy to minimize the estate’s federal tax obligations. If you need effective legal support through federal estate tax planning matters, contact The Law Offices of Yacoba Ann Feldman to discuss your estate.

Federal Estate Tax planning

California does not impose an estate tax. The federal government does to a certain extent. The Federal Estate Tax laws were changed significantly in 2012.  If you created an estate plan before that date, you should have it reviewed.  Many clients who previously needed to plan for estate taxes no longer need to do so affording more flexibility in their plans to doing other things, including gifts to children or charitable planning.  In 2012 a new tax threshold was adopted. Estates valued at less than $5 million would be exempt from a federal estate tax.  That figure is adjusted annually based on a formula which takes into account the cost of living.

The Gift and Estate tax systems are again unified so lifetime gifts will affect the actual amount of your estate tax exclusion, or how much you can leave estate tax free on death.  The annual gift tax exclusion also was increased in 2012 to $13,000 and is also adjustable.  These gifts, while a much lesser sum, can be given once a year and to any number of people.  These gifts can also be an effective tax planning tool.  Our firm has experience helping individuals and families prepare their estate in a manner that protects them from unnecessary tax burdens.

Our firm’s services

Our firm is committed to our clients’ future and the future of their estates. Our hands-on approach provides clients with the effective and knowledgeable services they deserve and expect.

  • Advising you on various options and opportunities
  • Suggesting ways to accomplish goals that limit the exposure to federal estate tax
  • Evaluating tax and other consequences regarding different ways of holding title to your assets
  • Proposing changes when appropriate
  • Reviewing plans developed before 2012 to assure goals continue to be affected

This area of the law can become complex. Working with a skilled and experienced estate planning lawyer can save you money and aggravation later. Planning is key when it comes to reducing exposure to estate and gift taxes. When a loved one dies, it is important to seek the advice of an estate planning attorney. Our firm stays current with changes in the law so we can provide clients the most up-to-date advice as to how the laws will affect their estate plans.

Contact The Law Offices of Yacoba Ann Feldman

The Law Offices of Yacoba Ann Feldman has over 35 years of experience helping high net worth clients through estate tax and gift tax planning matters. To protect your estate from unnecessary taxation and to learn about gift tax planning, turn to The Law Offices of Yacoba Ann Feldman.