Estate Tax Attorney Planning Secrets That Save Big Money
Real-World Examples and Statistics
Consider the case of a family with a $10 million estate. Without proper planning, they could face an estate tax bill of over $1 million, given the current federal estate tax exemption of $12.92 million per individual4. By employing strategies such as gifting and setting up trusts, they could potentially reduce their tax liability to zero.
Statistics show that only about 0.2% of estates are subject to federal estate taxes, thanks to strategic planning and the use of exemptions5. This highlights the effectiveness of estate tax planning in preserving family wealth.