Wills & Estate Planning Law
Are You in Need of an Estate Planning Lawyer who understands the Tax Consequences of Death?
People often wonder if they need a will. The answer is simple: if you are alive, you need a will. We all know the two certainties in life are death and taxes. A will, properly drafted, can address both of these issues.
Another key issue an experienced estates lawyer can help address is the harmonious transfer of wealth to your family members and loved ones. Extra care and skill is needed when considering blended family or second marriage situations, business succession planning, cottage transfers to multiple generations,
Especially if you have certain types of assets, such as registered retirement funds, capital property, real property in another jurisdiction, or business interests, chances are that your estate will owe a significant amount of tax upon your death. To many, this can come as a surprise, and often people do not structure their estate planning to address a large tax payment, or even double taxation in the case of an estate holding privately held corporate assets. Using an estate tax planning lawyer can position your loved ones for financial success by maximizing the value of your estate, which will ensure that your loved ones receive a greater share and the government a lesser share of your estate.
Whether you are in need of just a simple will or or some additional estate tax planning to address a more complex situation you can be sure that we at Fallow Estates Law will handle your particular situation with the care and skill you would like while still getting you accurate and definitive answers when it comes to preparing your estate plan.
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