At the Law Office of Emily J. Buchbinder, we have been crafting tax-favorable estate plans for our clients with successful results for many years.
Unfortunately, we are all subject to local, state, and federal taxes. Furthermore, taxation of any kind is a complex matter generally understood only by tax professionals. Most of us need professional guidance or representation when it comes to tax preparation, filing, disputes, and competent tax planning designed to minimize or eliminate certain tax liabilities.
When it comes to avoiding unnecessary taxes, planning is necessary. At the Law Office of Emily J. Buchbinder, we can help with the process. Founding attorney Emily J. Buchbinder is a taxation attorney with a legal Master’s degree (LL.M.) in taxation who structures estate plans to minimize or eliminate estate taxes. She regularly guides clients seeking to transfer their property tax base to their children under Proposition 19, which went into effect on February 15, 2021. In addition, she provides knowledgeable advice and strategies for transferring wealth in a tax-efficient manner.
Personalized Legal Strategies
Tax planning through estate planning is a very personalized issue. Your family dynamics, financial picture, and individual goals will all come into play. You will need a Santa Cruz taxation attorney who can devise an estate plan that combines all these factors to give you the most benefits.
Taxation & Estate Planning in California
Various taxes can play a large part in the transfer of your estate to your heirs upon your passing. This is why proper estate planning is so important. Three types of federal transfer taxes may apply to the transfer of an estate depending on your estate value. These include estate taxes, gift taxes, and generation-skipping transfer taxes. Our firm can educate you on these types of taxes and their potential impact on your estate. For example, estate taxes only come into play on exceptionally large estates while anyone can make tax-free gifts of a certain amount to family members annually. Estate plans that include various types of trusts can work in your favor to eliminate or minimize taxes as well as probate expenses and court fees.
Wealth Transfer Strategies
Many tax-efficient ways exist in which you can transfer your wealth to your family. These include such strategies as making annual tax-free gifts of a certain amount to the next generation, making direct payments to entities or institutions for a family member’s medical care or educational tuition, making loans to family members according to IRS rules, or setting up certain grantor trusts, such a grantor retained annuity trusts, and more. Our firm provides planning that includes financial, tax, and estate considerations based on your goals and unique financial circumstances.
Need tax planning advice for your estate? Contact the Law Office of Emily J. Buchbinder for a confidential consultation about your tax matter. Use our online request form or call (831) 400-3496 today.
Customized Legal Strategies
Just like no two individuals are the same, our team believes that no two cases are the same. We work with you to ensure your legal strategy is crafted to address your unique circumstances.
Attentive & Skilled Representation
We understand that this is a difficult topic to think of, so our team of dedicated legal advocates compassionately works with you and your family in order to ensure you are in control of your future.
Certified Legal Specialist
Emily Buchbinder, our founding attorney, is a certified legal specialist in estate planning, trust, and probate law. We have the tools, knowledge, and resources to help with your legal needs.