Estate and Gift Tax Consulting

We find that people tend to overlook estate planning. This can happen for many reasons. The unpleasantness of thinking about death is probably the most common one, but there are plenty of other excuses. Maybe you’ve even used them yourself, thinking, “I’m too young,” “I don’t have enough money,” “I’m in great health,” or “I don’t have any kids.”

All reasons aside, our advice to you is simple: if you are tempted to put off estate planning, DON’T.

The truth is that everyone needs an estate plan in place that addresses what happens to your property and financial assets when you die–and what happens to your children, should you have any.

Estate tax and gift tax planning are not just for the wealthy; it is salient to middle-income earners too, especially those that have a spouse and/or children.

In the event that you don’t have an estate plan in place when you die, state laws govern how your assets are divvied. More likely than not, the results would be far from what you had in mind.

Estate planning offers you peace of mind and the knowledge that your loved ones will be taken care of, should anything happen to you.

The experienced tax and accounting professionals at Town CPA are here to help you.

Typically, an estate plan specifies a power of attorney or includes a health directive should you become incapacitated. A trust might also be included whereby your personal assets and real property are transferred into the trust, allowing your beneficiaries to bypass probate court when property is transferred to them.

More often than not, just thinking about estate planning brings up more questions than answers: Will my heirs have to pay federal or Massachusetts estate tax? If I die prematurely, are my spouse and children protected from bankruptcy and creditors? How can I make sure my children’s inheritance is protected if my wife decides to remarry?

These are tough questions, but when you work with an experienced advisor like Nune Khachatrian, CPA, owner of Town CPA, you will have concrete answers to these questions, and more. As your trusted advisor, she makes sure that you understand the tax-related aspects of estate planning and that you and your family are financially prepared for what lies ahead. If you are just getting started on planning your estate, Town CPA works with a number of attorneys in the Boston area and would be happy to refer you.

What we do for you:

Our goal at Town CPA is to help you preserve the wealth you’ve accumulated over your lifetime for future generations. Part of this means minimizing estate taxes and avoiding costs associated with probate court.
We understand the importance of structuring your estate plan so as to take advantage of state and federal tax exemptions such as the gift tax exclusion or generation-skipping tax. We help you

• Plan ahead to reduce or eliminate the tax due on the transfer of assets to your heirs and avoid probate issues and unnecessary court costs
• Develop a lifetime gift program by using charitable trusts, qualified personal residence trusts, or family limited partnerships
• Prepare estate, gift, and fiduciary tax returns
• Ensure security for your surviving spouse and plan for the orderly transfer of assets to your beneficiaries
• Help business owners with succession plans to ensure business continuity and stress-free transfer of ownership to family members or dedicated employees
• Periodically review and update your estate plan as family or business situations change

Discover how our estate and gift tax consulting services can help you reduce your tax liability.

Regardless of your net worth, if you live in Belmont, Watertown, Newton, Lexington, Waltham, Winchester, Needham or anywhere else in the Boston area, we can help.

Call Town CPA at  617-484-1838  to schedule a free consultation to learn more about our estate and gift tax consultation services.