Is Your Estate Planning Optimized for Income Taxes?

steve at elville and associatesBy: Stephen R. Elville, J.D., LL.M., Principal and Lead Attorney — Elville and Associates, P.C.

In today’s Time to Think blog, we ask this question: is your estate planning optimized for income taxes? If not, this is an important consideration since income tax is now arguably the “new estate tax”. How does one go about doing this – optimizing an estate plan for income tax purposes? The process is straight-forward and involves a review of your existing estate planning documents and financial assets, including titling, beneficiary designations, and corporate-related documents. Begin gathering these documents today for a comprehensive review by your estate planning attorney. You’ll be glad you did.

Are you taking the time to think about this issue?

Stephen R. Elville is the principal and lead attorney of Elville & Associates, P.C., a leading estate planning, elder law, and special needs planning law firm in Maryland. Elville and Associates engages clients in a multi-step educational process to ensure that estate, elder law, and special needs planning works from inception, throughout lifetime, and at death. Clients are encouraged to take advantage of the Planning Team Concept for leading-edge, customized planning. The education of clients and their families through counseling and superior legal-technical knowledge is the practical mission of Elville and Associates. If you would like to set an appointment with Mr. Elville to discuss estate or elder law planning issues, you may contact him at 443-393-7696, or via email at [email protected]#elvilleeducation