Estate Tax Planning

Have you considered how much of your assets will be eaten up by estate taxes before they are passed on to your survivors? Without a thoughtful approach to estate tax planning, the government can become a major beneficiary of the assets you have worked a lifetime to accumulate.

Experienced Estate Tax Planning Lawyers

If you would like to discuss legal options aimed at preserving more of your assets for the people or organizations named in your will, please contact an estate tax planning attorney at Solomon, Steiner & Peck, Ltd.

We will discuss your specific circumstances, listen to your concerns and goals and review your existing documents. Then we will explain your options and give you our best legal advice about estate planning strategies that make the most sense for you.

We will put together a plan to reach your goals, using the appropriate estate planning tools, such as:

• SAFE trusts
• AB trusts
• QTIP trusts
• Estate tax preservation trusts
• Irrevocable life insurance trusts
• Charitable trusts
• Irrevocable trusts
• Gift trusts

It is important for married couples to consider estate tax planning while both husband and wife are alive and competent. When one spouse dies, he or she can leave an unlimited amount of assets to the surviving spouse tax free. When the surviving spouse dies, however, federal estate taxes must be paid depending on the size of your estate. A proper estate tax plan put in place before the first spouse’s death can limit tax liability and maximize the value of your legacy.

Don’t put it off any longer. Contact an estate planning attorney at Solomon, Steiner & Peck, Ltd., today. From three locations, we represent clients throughout northeast Ohio.