Whether you have a will or are thinking about setting up a trust, you may have many different types of estate-related considerations. However, you should definitely look into estate taxes if you have a high net worth, or think your financial situation may result in estate taxes. At Curley Law Firm, we know how stressful these issues can be for people who live in Middlesex, and across the whole state of Massachusetts. However, planning ahead with regard to estate taxes can be very beneficial.
If you have made significant lifetime gifts, or have an estate worth over $1 million, your estate may be taxed when it is handed over to beneficiaries. By taking the smartest approach, you may be able to lower the amount of estate taxes your loved ones will be responsible for paying after you have passed away. Not only will your loved ones possibly appreciate the consideration you give these issues by paying fewer taxes, but you may also find some peace of mind knowing that you have carefully looked into this aspect of your estate.
Unfortunately, some people neglect to set aside enough time for taking steps to reduce estate taxes or handle other estate planning matters. From unnecessary costs to complications in court, this can create challenges down the road that could have been prevented, or at least minimized. If you browse over to the section of our site that addresses estate tax planning, you can read additional information related to reducing estate taxes and similar issues.