Family Wealth Preservation

Estate taxes can be imposed at both the Federal and State levels. Ever changing rules and tax rates make it more important than ever to have a solid plan in place. There are a number of important matters that you might consider to protect your wealth:

  • IRAs and Retirement plans can be hit harder than your other assets due to the double tax burden of income and estate tax.
  • Keep family assets in the immediate family (blood line) to prevent children’s ex-spouses and other non-family members from becoming beneficiaries.
  • Asset protection trusts can make it difficult to impossible for others to attach family assets.
  • Disinherit the IRS. You have paid them enough while accumulating assets.
  • Be organized to avoid costly probate matters and confusion.
  • Stretching out retirement benefits for children or grandchildren can significantly delay the payment of income taxes

Jaras Financial Service does not offer tax planning or legal services, but will provide references to accounting, tax services or legal providers. They will also work with your attorney or indepepndent tax or legal advisor,
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