Estate tax planning is critical to help minimize the amount of taxes your beneficiaries will owe upon your death. Mark E. Feinsot, CPA has worked with many high net worth individuals, business owners and families to develop an estate plan with an emphasis on reducing and minimizing the impact of estate taxes.
With careful planning and an understanding of your current situation and financial goals, Mark E. Feinsot, CPA can employ a comprehensive set of estate and income tax minimization strategies including annual and lifetime gifts, education planning, inter-spousal transfer strategies, trust planning and charitable donation strategies. Our goal is to significantly reduce their tax burden for our clients, their families and beneficiaries.
Mark E. Feinsot, CPA has extensive experience assisting couples with estate planning strategies related to property ownership and/or transfer.
There are several advantages for taking title as community property with right of survivorship (CPWROS) including:
Another option may be to transfer title (ownership) of the marital property to separate property owned by one spouse. This type of estate planning strategy can help protect the residence from existing or anticipated creditors.
Mark E. Feinsot, CPA understands the tax, probate and estate planning implications and can help you determine what strategies might work best for your estate planning needs.
Gifting your assets to other individuals can be a very effective way to reduce the value of your estate and therefore reducing your potential estate taxes. There are many ways to gift assets to people or organizations, but the government does place restrictions on the amount one person can gift each year. Some strategies include:
Mark E. Feinsot, CPA’s legal team is very knowledgeable of estate and tax laws.
Let us help you evaluate your gifting options and establish gifts that will benefit your overall estate planning goals.
Mark E. Feinsot, CPA can assist high-net-worth individuals and business owners to maximize estate tax savings, create family goals, establish charitable objectives and fulfill philanthropic legacies. We recommend a wide range of tools to achieve your wealth and succession planning goals including gifts for charitable and religious entities, endowments, charitable trusts, private foundations, charitable annuities, donor advised funds, public charities and conservation easements.
If your estate planning goals include funding education costs for a child or grandchild, Mark E. Feinsot, CPA can help you ensure you have a plan for achieving your goal. Our CPAs can explain the education funding options available to you, estimate the future costs of education expenses and help you create a solid plan to reach your goals. We use a variety of strategies including investment vehicles, 529 college savings accounts, tax-deferred savings, gifting plans, tax credits or specialize trusts designed to provide for future generations.
Call us today at (212) 631-0320 to discuss your needs.