When you are in the process of planning your will, you are often more concerned with assigning the right assets to your loved ones. What is often not considered is estate tax. A will is designed to transfer funds and belonging of an individual who has passed to family and friends. But with the transfer of funds comes tax.
Depending on the current laws and how large the funds are, it can be taxable at a state or federal level. Because of this complication, it is recommended to consult with your lawyer to create an estate tax plan along with your planning your will. The Bloomington attorneys at BK Law are experienced in working to reduce estate tax for individuals who are planning their future. This will ensure your loved ones will be getting the most out of what they were given.
READY TO START PLANNING?
Call us at (952) 314-5101 or use our contact form to arrange a consultation with our attorneys. We offer convenient office hours, flexible appointment times and reasonable fees. We look forward to hearing from you soon!