At Stuart Green Law, PLLC, we are an estate and tax planning boutique law firm that uses our knowledge to protect the best interests of our clients. Whether you need assistance with income and estate tax planning, estate and trust planning, trusts and estate planning, domestic assets protection trusts, or family office legal services, we have got you covered. We are in a unique position to serve clients not just in Texas, but across the nation. You can depend on our Conroe, TX estate tax lawyer to provide you with excellent legal services and solutions for your estate and tax planning needs. For more information about how we can assist you, contact us today!
Estate Tax Planning Strategies
The intention of estate tax planning is to ensure that our assets do not get taxed unnecessarily. Through our approach, our estate tax attorney can create a comprehensive tax plan that protects your estate and structures it in a way that limits estate taxes so more wealth can be distributed to future generations. We can help you understand the importance of minimizing tax implications on estates. Our estate tax attorney takes full advantage of favorable tax laws, which can offer substantial savings and benefits for generations of your family. Whether you are wanting to sell your business, planning for your family’s future, or want to know more about asset appreciation, we can assist you. Strategies our Conroe estate tax lawyer may suggest using to protect your wealth include:
- Grantor Retained Annuity Trusts
- Installment Sale to Intentionally Defective Grantor Trusts
- Gifting Strategies
- Spousal Lifetime Access Trusts
- Irrevocable Life Insurance Trusts
- Valuation Discounts and Freezes
State Taxation Of Trusts
Using a trust in a state that does not have taxes for income, such as South Dakota, can offer a chance for the trust assets to grow without state income tax across multiple generations. When formerly, you may have needed to deal with undistributed trust income getting retained in a trust and taxed in most taxes. A Resident Trust is a trust established other than where the settlor, beneficiaries, co-trustees, or reside. It is unconstitutional for a state to tax non-sourced, undistributed trust income for a resident trust. Other trusts our estate tax attorney can help you with include but is not limited to:
- Dynasty Trusts
- Community Property Spousal Trust
- Incomplete Non-Grantor Trust(ing)
- Special Needs Trust
- Life Insurance Trust
- Charitable Lead Trust
- Marital Trusts
- Revocable Trust
- Irrevocable Trust
- Grantor Retained Annuity Trust
- AB Trust
- Qualified Personal Residence Trust
Stuart Green Law, PLLC
The founding and managing attorney, Stuart A. Green., began his career focused on estate planning through a small regional law firm. He mastered the nuances of tax compliance, which led him to gain invaluable insight at an Big 4 public accounting firm. Since then, our Conroe estate tax lawyer has remained steadfast in serving a range of clients, using diligence to protect client’s assets and maximize on their monetary goals. If you are interested in learning more about how we can help you, contact Stuart Green Law, PLLC at your next convenience.
Estate Tax Liability Strategies
Our Conroe, TX estate tax lawyer understands that estate taxes can significantly reduce the value of what we pass on to our loved ones. Without planning, a large portion of an estate may go to taxes instead of the people or causes we care about. Fortunately, there are practical ways to reduce or even avoid federal and state estate taxes. These strategies vary depending on the size of the estate, the type of assets involved, and our long-term goals. Attorney Stuart A. Green is the founding attorney of this firm and takes care with each client to help them with their specific needs.
Using Lifetime Gifting Wisely
One of the simplest ways to reduce estate tax liability is to make gifts during our lifetime. The IRS allows us to give a certain amount each year to as many individuals as we want without those gifts being counted against the lifetime exemption. Over time, this strategy can move a substantial amount of assets out of the estate. Larger lifetime gifts that exceed the annual limit will count against the lifetime exemption but can still reduce the taxable value of the estate if done strategically.
Establishing Irrevocable Trusts
Irrevocable trusts can be useful tools in estate tax planning. When we transfer assets into certain types of irrevocable trusts, those assets are no longer considered part of our taxable estate. Common options include irrevocable life insurance trusts, grantor retained annuity trusts, and charitable remainder trusts. Each type serves a different purpose, but all have the effect of reducing the size of the estate for tax purposes when used properly. It’s important that we no longer control the assets placed in these trusts, which is why careful planning is necessary.
Taking Advantage Of The Marital Deduction And Portability
As our Conroe estate tax lawyer can tell you, married couples can use the unlimited marital deduction to transfer assets to each other during life or at death without incurring estate tax. But to fully use both spouses’ estate tax exemptions, we also need to plan for portability. Portability allows a surviving spouse to use any unused portion of the deceased spouse’s exemption. To take advantage of this, a federal estate tax return must be filed at the first spouse’s death. By combining exemptions, we can shield more of the estate from taxation.
Making Charitable Contributions
Charitable giving is another effective way to reduce estate taxes. We can make gifts to qualified charities during our lifetime or through our estate. These gifts reduce the size of the estate and may also offer income tax benefits. In some cases, we may want to set up a charitable remainder trust or similar vehicle that allows us to give to charity while still providing income to ourselves or our beneficiaries.
Planning Around Business And Real Estate Holdings
Family-owned businesses and real estate can create estate tax issues if not handled correctly. Valuation discounts for lack of marketability or control may apply, reducing the taxable value of these assets. We might also consider setting up a family limited partnership or transferring interest in phases to reduce the taxable value while maintaining control during our lifetime. This kind of planning helps us protect our legacy and pass on the business or property more smoothly.
See How We Can Help You Today
At Stuart Green Law, PLLC, we help families take proactive steps to reduce estate tax exposure through well-structured plans. These strategies are not just about saving money—they’re about making sure our wishes are followed and our loved ones are protected. Check out our recent 5-star reviews on Google to see how we have helped other clients. Reach out to our Conroe estate tax lawyer today to schedule a consultation and take the first step in building a plan that works for you.