Minimize Estate Taxes, Insure Your Intentions Are Carried Out
Our attorneys have saved our clients millions of dollars in estate taxes
Experienced estate planning lawyers
Estate Planning Attorneys in Camden Maine
Penbaylaw Estate Planning
The Continuity of Tradition, and the Efficiency of Innovation.
Our attorneys have saved our clients millions of dollars in estate taxes through the use of legitimate legal tax avoidance estate planning techniques. Jesse Bifulco has over 20 years of experience in Estate Planning. Applying that experience using innovative law office technology allows us to offer sophisticated Estate Planning at reasonable fees. With most estates typically qualifying for our flat rate fee, our clients obtain their objectives, and enjoy peace of mind all with a predictable cost. Penbaylaw are Camden Maine Estate Planning attorneys.
What is Estate Planning?
Effective Wealth Transfer That’s Meaningful to Our Clients And Their Heirs
Estate Planning generally deals with two main issues: 1. Minimizing the tax consequences of transferring property from one generation to another; and 2. Making sure that property goes where you want it to after you die.
Is [Estate Planning] Tax Avoidance Legal?
Yes. When presented with options for limiting gift taxes many of our clients are skeptical. However, it has been clearly established in the law that the individual is permitted, even expected, to try and use the rules to limit their tax exposure. This is called legitimate Tax Avoidance.
The IRS considers permissible tax avoidance to include attempts to “reduce, avoid, minimize, or alleviate taxes by legitimate means,”
The IRS Talks About Tax Avoidance
Some of the Tools of Estate Planning
The tools used to reduce estate taxes vary according to the estate. The tools used will depend on a number of factors: the size of the estate; the willingness of the client to reduce personal control over a portion of her or his wealth; the age of the client; the marital status of the client. All of these factors and more are examined as part of our estate planning interview process to determine what the best possible estate planning solution is for the particular person. Depending upon the individual an Estate Plan may utilize legal tools as complex as trusts, limited liability companies, charitable trusts, charitable foundations, powers of appointment, disclaimers, or as simple as a will or joint will, selling or transferring title to real estate, and or a plan of gifting.
There is a wealth of information available online about Estate Planning. It is always advisable to learn as much as you can about the issues that effect your property. However, ultimately, these are complex issues in an area of law that changes rapidly. Before you act you should seek the advice of qualified counsel who you trust. A note of caution about estate planning and tax avoidance: there are planners out there who utilize estate planning methods that may be illegal.