Estate & Retirement Tax Planning

Herbein + Company, Inc.’s Estate Tax Planning team is comprised of dedicated professionals that have extensive knowledge of the estate tax area and practice closely with estate planning attorneys and other professionals to help you achieve your personal goals and objectives.

Over the next 40 years, more than $40 trillion will change hands in the United States from one generation to the next. If you do not have a plan, you should begin preliminary discussions regarding estate planning. Existing estate plans should be reviewed regularly to ensure the plan continues to fit your current goals. Each estate planning project is tailored to specific circumstances.

Estate planning is an on-going process that minimizes exposure to taxes, probate, and other administrative expenses while maximizing the assets your family has accumulated over many years of hard work and planning.

Estate Planning engagements consider many issues including:

  • Your current financial position, reviewing title and beneficiary designations
  • Business and succession planning considerations
  • Ensuring wills, trust agreements, power of attorney and healthcare directives are up to date
  • When a revocable living trust is to be considered
  • Liquidity analysis and projected Federal and State taxes, funeral and administration expenses, debts, etc.
  • Family characteristics and structure, names, ages, etc.
  • Who, when and how your property will transfer to your heirs
  • Who should be your executor and /or trustee
  • Review of prior taxable gifts, if any
  • Tax considerations and elections
  • Your personal goals and objectives
  • Charitable planning techniques
  • Review of retirement plans, 401(k)’s, IRA’s, Roth IRA’s, etc.
  • Maximize exemptions and marital deductions available
  • Planning for incapacity, special needs, guardianship’s, etc.