Tax Planning

Tax planning for your estate is the best way to maximize the portion of your assets you leave to your beneficiaries. Estate taxes can significantly reduce the size of your estate if you don’t plan for these required expenses.

Hiring a knowledgeable estate planning firm like Anzen Legal Group can help you minimize estate tax liability and increase the amount of wealth you leave to your loved ones.

Estate Tax Liability

You are likely subject to federal and state tax liability if you have a high-dollar estate. For estates over $12.06 million, you may owe up to 40%, of your estate in taxes to the federal government upon your death.

There are many additional tax liabilities that your estate may be subject to, such as the generation-skipping transfer (GST). The GST tax places a high tax rate on gifts, including money, property, or other assets, that you give to any relative that is two or more generations younger or any non-family member who is at least 37.5 years younger.

Currently, there are no additional estate tax liabilities in Colorado. However, Colorado residents must abide by federal estate tax regulations.

How Estate Tax Planning Lowers Your Tax Liability

When you work with an estate attorney, they can help you plan your estate to minimize your tax liability. By reducing the size of your estate each year, you can keep it within the estate tax exemption bracket or reduce your federal estate tax rate.

For example, you can generally reduce the amount of taxes you owe on your estate by gifting portions of your estate to your spouse. You may also choose to pay tuition or medical expenses for your family members as a way to endow your assets without taxation. Giving to a 501(c)3 organization or charity or setting up irrevocable trusts are also ways to reduce your taxable estate assets.

Work With Anzen Legal Group to Plan Your Estate Taxes

It is important to work with your attorney to develop estate tax planning strategies to reduce your tax liability. Hire Anzen Legal Group to analyze your personal estate tax liability and implement tax planning strategies that allow you to keep your wealth and pass it on to future generations.

The Anzen Legal Group, represents clients throughout Colorado in communities such as Fort Collins, Denver, Colorado Springs, Boulder, Aurora, Grand Junction, Centennial, Greeley, Castle Rock, Lakewood, Broomfield, Arvada, Pueblo, Parker, Longmont, Westminster, Loveland, Thornton, Commerce City and Canon City.

Representation You Can Count On

For estate planning, business formation, or assistance with your business strategy, work with Anzen Legal Group. Our team is eager to support local businesses and their families across the Centennial State.

We also represent clients in contract disputes, family law matters involving divorce, child custody, and more. Our experienced Colorado lawyers listen attentively and provide trusted counsel for any legal situation you may encounter.

Call us at (970) 893-8857 to speak with one of our attorneys and start the process of protecting your rights, assets, and future.

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Testimonials

Rarely do I give 5 stars but Attorney Kevin Strait answered all my questions about starting my business and helped me analyze my start-up costs. He’s incredibly knowledgeable and made my life so much easier.
Seriously impressed.

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I call Kevin with Anzen Legal for all of my aviation business’s legal needs. His advice was invaluable to my business start-up process.

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Kevin, one of the attorneys, does a great job explaining how the law works for me and against me whenever I have a business question.

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Kevin at Anzen Legal helped me avoid some legal pitfalls in my industry association meetings. He does a great job applying legal knowledge to the real world of business.

INTERNAL CAVALIER

One of the attorneys, Kevin Strait, walked me through all my options for starting a non-profit. He was able to boil down the process to the essential things I needed to know.

Luke S

The team at Anzen are without a doubt the best I have worked with. Not only are they competent, professional, and knowledgeable, but they are the 1% of attorneys that the 99% are giving a bad name to. Do yourself a favor, and place all your legal affairs in their capable hands. I didn’t regret it and neither will you.

Nathaniel Stephens

I have had the privilege to work with Mr. Strait on both personal and professional levels, and I have a deep level of respect for him in both areas. Mr. Strait is a competent attorney which is further enhanced by his prior engineering and business experience. What I most deeply respect about Mr. Strait is his integrity and his care for people as individuals, and I consider him heroic in both. I continue to rely on his services, and I commend him to others as well.

Chuck Longtine