Advanced Estate Planning

Trusts and Tax Avoidance Strategies

Advanced Planning for Larger Estates in the Washington, D.C. Area

The attorneys of the Law Office of DeCaro & Howell enable high net worth clients to avoid or minimize estate and inheritance taxes, and plan for the transfer of assets without giving away control. Our knowledge and sophisticated tools allow clients to accomplish a variety of goals beyond basic estate planning.

Located in Upper Marlboro, Maryland, we serve clients throughout the Washington, D.C. metro area, including southern Maryland and northern Virginia. We invite you to arrange a consultation at 301-464-1400.

Avoiding Taxes

Few families are still subject to federal estate taxes — the threshold was raised, then phases out. However, the Maryland and Virginia estate taxes were recently changed. Certain assets may be exempt from federal statutes but not from state taxation. For estates valued at between $1 million and $2 million, we can re-word trusts to account for any discrepancy. This advance planning defers any state tax liability until the second spouse dies.

Trusts

Through the careful choice and construction of trusts, our lawyers help clients achieve advanced estate planning goals:

• Facilitate direct transfer to a spouse or children
• Control and access assets while you are living
• Shift assets gradually to heirs through the $12,000 annual gift tax exclusion
• Provide for a family member with special needs
• Place stipulations on inheritance to protect heirs from themselves (annual disbursements, inherit upon earning a college degree, etc.)
• Fund a favorite charity
• Business succession through creation of a limited liability company (LLC)

We can execute the full gamut of sophisticated trusts: revocable living trust, irrevocable life insurance trust, bypass trust (A-B trust or family living trust), charitable remainder trust, special needs trusts, trust funds for minor children, or generation-skipping trust.

If the size of your estate or your wishes regarding bequests necessitates advanced estate planning, contact our Upper Marlboro office at 301-464-1400 to arrange a consultation.