At NewPoint Law Group, LLP, our team of gift tax lawyers and estate tax lawyers is committed to providing comprehensive tax planning services to individuals and families in the Roseville and Sacramento area. With in-depth knowledge of both federal IRS regulations and California-specific laws, we help clients minimize their estate and gift tax liabilities while preserving their wealth and legacy.
Understanding Estate and Gift Tax Planning
Federal estate and gift tax laws can be complex, especially when you need to account for changing thresholds and exemption amounts. Currently, the federal estate tax exemption stands at $12.92 million for individuals (as of 2023). However, upcoming changes may subject more estates to taxation in the future. If your estate exceeds this threshold, you could be facing a significant tax burden. Our estate tax lawyers in Roseville are here to guide you through these complex regulations.
The gift tax limits how much you can transfer to others each year without triggering taxes. The annual exclusion is currently $17,000 per recipient (as of 2023). If you make gifts exceeding this amount, they may count against your lifetime exemption, reducing your estate tax exemption. Our gift tax lawyers can help you structure your gifts to minimize or avoid tax consequences.
California-Specific Considerations
While California does not impose its own estate or gift tax, local laws still play a key role in your overall tax strategy. For example, Proposition 19 impacts property tax reassessment when transferring property between parents and children, potentially increasing property tax liabilities if not managed properly. Our Roseville and Sacramento-based estate tax lawyers are familiar with these local regulations and can develop strategies to protect your assets.
Why Choose NewPoint Law Group's Estate and Gift Tax Lawyers?
Expert Guidance on Tax Strategies: Our gift tax lawyers and estate tax lawyers stay up to date on the latest IRS tax code changes and California laws to provide you with the most effective tax-saving strategies. Whether you need help setting up a trust, making tax-efficient gifts, or protecting your estate from future tax liabilities, we offer customized solutions that meet your unique needs.
Avoiding Costly Mistakes: Estate and gift tax laws are intricate, and even a small mistake could result in costly penalties. By working with our experienced estate tax lawyers in Sacramento and Roseville, you can be confident that your estate plan complies with all applicable federal and state tax laws.
Comprehensive Asset Protection: Protecting your assets is about more than just avoiding taxes. Our gift tax lawyers and estate tax lawyers help you establish clear legal structures, like irrevocable trusts or revocable living trusts, to safeguard your family’s wealth, avoid probate, and ensure your estate is distributed according to your wishes.
Holistic Approach: At NewPoint Law Group, LLP, we take a holistic approach to estate and gift tax planning. Our estate tax lawyers in Roseville integrate tax strategies with other areas of law, such as real estate and business planning, ensuring that every aspect of your financial life is aligned with your long-term goals.
Why Hire a Law Firm for Estate and Gift Tax Planning?
Legal Expertise: Our Roseville-based gift tax lawyers and estate tax lawyers have extensive legal knowledge, providing a comprehensive approach to tax planning that goes beyond what financial planners or accountants can offer.
Personalized Strategies: Every family’s financial situation is unique. Our estate tax lawyers create customized plans that fit your family dynamics, tax situation, and future goals.
Dispute Resolution: In the event of disputes, our team can represent your interests in court or mediate solutions, ensuring your wishes are upheld.
Integrated Services: Our firm provides integrated legal services across tax planning, real estate, business law, and more, ensuring a cohesive approach to your estate and gift planning.
Start Planning With Our Roseville Estate and Gift Tax Lawyers Today
If you’re in the Roseville or Sacramento area, the gift tax lawyers and estate tax lawyers at NewPoint Law Group, LLP, are ready to help you minimize your tax burden and protect your estate for future generations. Contact us today to schedule a consultation and begin the process of securing your legacy.
Your business deserves a legal partner who understands your current needs and is equipped to evolve with you. NewPoint Law Group is ready to be that partner, ensuring that your legal foundation is as robust and forward-thinking at every milestone as your business itself.