One of the most difficult subjects to think about and ponder is our inevitable death. The second most difficult subject to consider is the potential estate and inheritance tax implications of death, and the income tax implications of any area that we pursue in life.
Whether we like it or not, we all know that both areas are a certainty. However, I am a big believer that, once you have your estate planning in place, you will not need it for quite a while. It is the old adage, “if you have it, you won’t need it. If you do not have it, you can be sure that you will need it.” Once you have estate planning in place, it will bring you great peace of mind that you have provided for your well-being during your lifetime and your intended beneficiaries upon your death. With respect to estate, gift and income taxes, several provisions of the Internal Revenue Code can be utilized in your favor.
The difficulty in thinking about these two subject areas usually arises from a sense of fear. However, once light is shown on the subject area, the light dissipates the fear. Knowledge is power. Let us help you shine the light brightly.