Long Island estate planning attorney Seth Schlessel (https://www.schlessellaw.com/5-ways-to-avoid-estate-taxes/) of Schlessel Law PLLC has released a detailed article titled “5 Ways to Avoid Estate Taxes.” The informative piece aims to provide practical advice on minimizing estate tax liabilities and preserving the value of one’s estate for their loved ones.
According to Long Island estate planning attorney Seth Schlessel, “The prospect of paying taxes on your estate and potentially diminishing the value your heirs will receive is not exciting. However, there are strategies and options you can explore to reduce the amount of estate tax you will have to pay or completely avoid paying the estate tax.”
In the article, Long Island estate planning attorney Seth Schlessel discusses various techniques for avoiding estate taxes, including gifting assets to loved ones, donating to charity, creating irrevocable living trusts, setting up family limited partnerships, and establishing qualified personal residence trusts. He emphasizes the importance of early planning and consulting with an experienced estate planning attorney to navigate the complexities of estate tax laws.
The article also delves into the differences between estate taxes and inheritance taxes, as well as the unique aspects of New York estate tax laws, such as the “estate cliff.” Schlessel points out that estate tax laws can vary based on one’s state of residence, and therefore, it is crucial to understand the applicable laws and exemptions in one’s specific state.
As a proficient Long Island estate planning attorney, Seth Schlessel stresses the importance of seeking professional guidance when developing a comprehensive estate plan. He states, “A skilled estate planning attorney should be able to evaluate your financial situation and recommend the appropriate strategies to avoid estate taxes.”
To provide a more in-depth understanding of estate tax laws and the available options for minimizing tax consequences, Schlessel Law PLLC offers personalized estate planning strategies tailored to each client’s unique needs and goals.
For those interested in learning more about avoiding estate taxes and securing their financial future, read the full article here. To schedule a consultation with Long Island estate planning attorney Seth Schlessel, visit the Schlessel Law PLLC website or call (516) 574-9630.
About Schlessel Law PLLC:
Schlessel Law PLLC is a full-service law firm based in Long Island, New York, widely experienced in estate planning, trusts, and probate law. The firm’s skilled attorneys are dedicated to helping clients navigate the complexities of estate tax laws, protect their assets, and provide for their loved ones in the most tax-efficient manner possible. With a personalized approach and a commitment to excellence, Schlessel Law PLLC aims to ensure clients feel assured and confident about their estate plans.
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Company Name: Schlessel Law PLLC
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Phone: (516) 574-9630
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Website: http://www.schlessellaw.com/