Estate Administration and Planning

Gorenz and Associates is prepared to assist you in providing maximum accuracy in the overall administration for our estate clients through our involvement with the following:

• Review of the decedent's will concerning strategies and tax related issues.
• Preparation, assistance and/or review of the decedent's estate tax return.
• Income in respect of a decedent planning for minimal estate and fiduciary income tax costs.
• Determine optimum estate taxes/ fiduciary tax elections and deduction alternatives.
• Tax planning opportunities available as a result of beneficiary distributions in kind.
• Assistance with disclaimer, alternative valuation, estate term and executor fee issues.
• Tax research assistance concerning estate, gift or fiduciary related matters.

The largest possible tax advantage an individual can garner is having an appropriate estate tax plan. Currently, a married couple (with the proper planning) can pass $4,000,000 to their heirs without any estate tax. This amount is gradually being increased and in the year 2010 will be eliminated.  The current law however expires after 2010 and as written would reduce the individual exemption to $1,000,000 in 2011.

Without the proper planning a couple with $4,000,000 estate could end up paying $920,000 unnecessarily in death taxes.  Don't wait to plan until it's too late.

Contact Tim Custis to discuss how we can assist you with your estate administration or planning needs.