Estate, Gift Planning and Asset Protection Services for Albany, Glens Falls & Upstate NY

You can’t take it with you, but failing to plan for your estate can mean that the government or another authority, rather than your heirs, may get the major portion of your hard-earned money. However, a little planning can save you thousands of dollars and put more money in the pockets of your heirs.

You may be surprised what your estate is worth. Add up the value of all your assets including liquid assets, real property, and even life insurance proceeds, which may fall into your estate. The total value may be higher than you expect so you may want to look into what a few simple planning techniques can save your family at estate time.

With the new life-time exclusions for estate and gift taxes, most Americans will not be subject to estate or gift taxes. However, in a society more prone to litigation than ever before, asset protection planning has become more important than ever. Through combinations of wills, trusts and business and investment entities, we can assist you in designing and structuring a plan to protect your most valued assets from unknown claims.

In addition, there are also some very effective estate-planning ideas that can cut your current income tax bill. Examples include annual gifts to heirs that escape the estate and gift tax, transferring income-producing property out of your estate, and structuring life insurance policies so that they are not included in your estate.

Estate and gift planning, as well as asset protection, is a very personal process as each family plan is unique. Effective planning should involve you, your accountant, your attorney and in many cases, an insurance agent and trust officer. Make sure you have the best team by your side by hiring seasoned professionals such as CMJ.