Estate planning is the process of anticipating and arranging for the disposal of one’s assets and liabilities at the time of their death. In the United States, estate planning must include planning for the likely ultimate payment of a federal gift or estate tax, as well as (in most cases) a state inheritance tax. In recent years, the federal government has made the estate planning process extremely difficult with ever changing exemptions, legislative sunset clauses, substantial changes in the tax rates, etc. States have followed the federal lead in making substantial changes to their inheritance tax regime. In short, planning for one’s death has always been complex; however, with the implication of ever changing estate and inheritance tax law and rates, this area of legal practice dictates a high level of financial and legal proficiency.
Core addresses the complexity of estate planning by concentrating on the transfer of a decedent’s assets and liabilities (in accord with the wishes of the deceased) and also with significant attention to the estate and inheritance tax consequences of the transfer. This two-pronged approach to estate planning provides the client (and their families) with a well thought out and structured overall estate plan providing the deceased’s heirs with the highest level of net asset transfers available based upon the deceased’s stated wishes.
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