Legacy Planning

Legacy Planning



Types of Taxes during asset transfer

  1. Income Tax
  2. Estate Tax
  3. Gift Tax
 
 
 
 

Do I need to worry about Tax during Legacy Asset Transfer?

Income Tax rate is historically low now and Government debt is increasing. If you prepare now, you can overcome the challenges from increasing Tax Rate in future
o Qualified asset on Transfer will be taxed. Tax diversification will reduce the tax burden for the heirs
Estate Tax exclusion is the highest now. If your assets are growing during retirement and if close to that exclusion limit, a well thought out Estate Planning strategy will reduce Estate tax, if any