When you want to protect the future of your wealth, you need to dictate to whom it goes and in what increments. You also may want to avoid paying expensive taxes on any money that you give to your heirs.
To ensure your estate is planned out according to your wishes, you need to put your will into writing. You can also disperse money into a trust by hiring experienced trust lawyers near Cicero for your estate.
Avoiding Taxes
When you send your money to trusts, you may avoid having to pay expensive taxes on your estate. Any money you put into an estate past a certain dollar amount may be counted as exempt from taxation. You can put in that amount and avoid having to claim it as income for your estate when you file taxes.
Your attorneys can find out how much you can move to trusts to avoid a huge tax burden. They can also tell you when to make this contribution to an estate to avoid having to claim the contributions as income.
Stipulating Wishes
You can also have your attorneys name your heirs in your will. You avoid the risk of anyone making an unlawful claim against your trust and estate after you pass away.
You can find out more about hiring trust lawyers near Cicero for your estate online. Reach out to Koch & Associates P.C. Attorneys At Law by going to their website.
