A taxable estate consists of all your assets including your home and other real estate, life insurance policies, retirement accounts, bank accounts and joint accounts. If the total of these assets exceeds the applicable estate tax deductions and exemptions, upon your death your estate will be taxed before the remainder is distributed according to your Will. These tax laws are an ever evolving and complex system requiring a knowledgeable and experienced hand; the consequences of a faulty plan could result in significant unnecessary costs.
How and when estate taxes will be applied can be minimized in a well structured estate plan. The attorneys at Keene & Sparks, LLP, can evaluate your estate in a comprehensive plan with the best available options regarding your estate. A well drafted and legally sound plan can greatly benefit surviving family and loved ones by averting lengthy and costly expenses and unnecessary taxation on your estate.
Contact us to learn more about Taxable Estates.