Estate taxes became a part of the American tax system with the Tax Act of 1862 when revenue was needed to support the Civil War, and they continue today. Many people find the idea of paying an estate tax unfair after having spent their entire lives paying income taxes while accumulating wealth. Whether fair or not, however, everyone must face the issue of estate taxes.
Fortunately, there are strategies that seek to eliminate some or even all of the potential estate taxes due if properly designed and executed. Additionally, there are techniques that can be implemented in paying estate taxes that work towards the preservation of assets and the efficient transfer of the estate to heirs.
At Buehler & Berryhill Financial Partners, LLC we are proficient in understanding estate planning cases and designing strategies that seek to help our clients' heirs retain more of their wealth. Our method begins with an educational process that helps clients understand the tax and legal ramifications of their estate planning. We then provide clients with multiple options for potentially improving their situations.
*Buehler & Berryhill Financial Partners and LPL Financial do not provide legal advice or services. Please consult your legal advisor regarding your specific situation.