"The hardest time to plan for your estate is after your funeral."

Estate Planning:

It is a sad fact that many people have neglected planning for what is to happen when they die.  A lifetime of hard work may be ruined due to the lack of planning.  A common misconception is that "the estate tax is dead".  This is incorrect!  The estate tax is being phased out over a ten year period and in 2011 it is back in full!  In fact, the only people who are not subject to this tax are those who will die in 2010.

Currently, property that is inherited from an estate has a "stepped-up basis", that is, the heir's new cost is the value as of the date of the decedent's death.  After 2009, the heir's basis will be the decedent's original cost.

We review our clients assets and plan for an orderly transfer to their heirs in a manner that will minimize taxes (both estate and income) and will maximize the fulfillment of the client's desires.  We will help document the basis of significant assets of the estate during the lifetimes of our clients to avoid the basis problems after 2009.

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