Brett Gibson works closely with individuals and families in planning the transfer of assets at death, while minimizing taxes and administrative burdens. Proper estate planning can provide security for a surviving spouse and children, reduce or eliminate death taxes, and even eliminate probate when advantageous.
The special needs of each client are explored in detail to craft a plan that makes the most sense for the client. For clients, estate planning can be easy and fun, reduce taxes, and prevent a lot of potential problems. Consider the following consequences of failing to plan:
• If your spouse dies without a will and is survived by children, you will only inherit 50% of the net estate.
• If your spouse dies without a will and is survived by children from a previous marriage, and you did not have children together, you will only inherit 25% of the value of any real estate.
• If both you and your spouse have children from a previous marriage, and all of your assets are jointly-titled, then the children of either you or your spouse will inherit nothing, depending on who dies first. The survivor’s children will inherit 100%.
• If you die leaving minor children, a Judge will determine their guardian. You can make this decision by choosing to plan.
• If your estate has $4,000,000 in assets, your estate would owe $924,600 in federal estate taxes. With proper planning, your estate would owe NO federal estate tax.
• If you become incapacitated, it may become necessary for a court to appoint a guardian over your person. Again, this can be avoided with proper planning.
The first step in estate planning is understanding what alternatives are available. All initial consultations are free. And, your calls and e-mails are welcome.
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