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    Estate Planning and Gift Tax Planning

    There is no “silver bullet” that can simultaneously reduce your estate tax liability to nothing, while at the same time provide everything to your family immediately following your death. However, there are important steps that can be taken to reduce the estate tax liability without unreasonably infringing on your access to assets during your lifetime, or the ability of your family to inherit the substantial portion of your estate.  Through a variety of steps, some large and some small, some to be taken immediately and some over time, we can help substantially reduce your estate tax liability.

    Charitable Planning

    Maximize your charitable legacy with various planning strategies including, Testatmentary Charitable Lead Annuity Trusts, Zero Estate Tax Plans, Charitable Remainder Trusts, and Charitable IRAs.

    Business Succession Planning

    Many closely held businesses do not survive the death of the owner. While there can be a variety of non-tax reasons, the lack of liquidity, combined with federal transfer tax laws, is an important factor. Insufficient liquidity with which to pay the estate tax may cause a forced sale or liquidation of the business.

    Farmers and Ranchers

    Most farmers and ranchers are emotionally committed to preserving the lifestyle. They believe that it fosters character, integrity, and emotional stability. Consequently, the children are encouraged to continue this way of life. Although you can argue whether or not the estate tax is fair, one thing is certain…the impact of the estate tax is disproportionately harsh on farmers and ranchers. While a wealthy non-agricultural person may find it unfair to lose 45% of their assets to the estate tax, it pales in comparison to an agricultural person whose family may lose an entire lifestyle.

    Land Trusts and Conservation Easements

    In a land trust’s endeavor to encourage people to donate or sell a land conservation easement, it will be an uphill battle to convince certain people unless it is clear what is in it for them. Our broad estate planning skills and specific knowledge as to tax incentives for farmers and ranchers (such as the tax benefits of a land conservation easement under sections 170(h) and 2031(c), the special valuation discount election under Section 2032A, and the election to defer estate tax under Section 6166), charitable lead trusts, charitable remainder trusts, and taxation of life insurance and annuities, might tip the scale in favor of a prospective easement donor proceeding ahead. Many people will need to thoroughly understand how an easement fits in with their overall estate plan, the problems it can solve, and the achievement of goals.