Advanced Estate Planning Techniques Sometimes Required

Apr 9, 2012

Depending on your unique situation, various different approaches may be necessary when you are planning your estate. There can be a lot more to it than simply drawing up a last Will. This is one of the reasons why you would do well to steer clear of do-it-yourself estate planning software and generic template last will documents.

Certain scenarios can call for some advanced estate planning techniques, and sometimes they are implemented in an effort to gain estate tax efficiency. The Federal estate tax sits poised to consume 35% of the taxable value of your estate as of this writing and this figure is scheduled to rise to 55% at the end of the year.

There are also New Jersey state death taxes to consider. So depending on the extent of your resources and the various forms they may be in some advanced strategies may be employed in an effort to gain estate tax efficiency.

Another type of situation that sometimes arises involves an heir who may have special needs. Individuals who have special needs may be receiving benefits from the government that are valuable to them. It can take some specialized planning to provide for a loved one with special needs while not doing anything to jeopardize his or her benefits.

It is important to recognize the fact that any number of legal instruments may be necessary to optimally prepare your assets for eventual distribution to your loved ones. This can only be accomplished with the assistance of a licensed, experienced and savvy Central New Jersey estate planning lawyer.

Alan Augulis, Estate Planning Attorney

Mr. Augulis founded his Warren, New Jersey law firm so that he could focus his practice in the areas of advanced estate planning and tax law. Mr. Augulis has invested considerable time and energy helping to educate others on the topic of estate planning and has become a sought-after speaker in the tax and estate planning arena because of his informative and entertaining seminars.

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