Understanding the Basics of Estate Taxes

One of the most important parts of estate planning involves setting up your estate in such a way that your beneficiaries are protected from taxes as much as possible. For sizable estates, estate taxes are a major concern that your estate planning attorney in Tracy and Manteca can help you prepare for.

The government charges estate tax when your beneficiaries inherit money above a pre-determined amount. This amount is adjusted frequently by the government. The government could take a substantial amount of your estate if estate tax applies to you. A lawyer can help you set up the distribution of your estate in a way that minimizes the tax burden for your beneficiaries and saves a significant amount of money.