3 methods of lowering estate taxes

As a Georgia resident who worked hard to be able to leave a legacy behind for your loved ones, you may be looking for ways to maximize how much your beneficiaries stand to gain after your death. If your assets are substantial enough, you may have to pay estate taxes....

Does Georgia have an estate tax?

If you amassed significant wealth in Georgia, you may wonder if you will have to pay estate taxes. Estate taxes can significantly increase the cost of death, especially for the wealthy, which is why many individuals take proactive measures to avoid them. The good news...

Does Georgia levy estate taxes?

When it comes to estate planning, there are various key issues that people must consider when creating or making changes to an existing estate plan. Taxes play a critical role in the way in which assets are distributed and it is important for people to recognize that...

The federal estate tax return timeline

An estate is frozen the moment that a federal estate tax return is received by the IRS. This means that assets cannot be transferred, and other transactions cannot be initiated or completed until the return is accepted. When that happens, the IRS will send an estate...

Estate plans do not last forever

Estate planning is not always easy in Georgia. While some people may have complicated assets, others might need to ensure heirs get their share of an inheritance. However, one problem is more universal. In general, estate plans are often not updated when they need to...

Why upstream planning can be beneficial

Estate planners in Georgia may have heard of something called upstream planning. Those who implement this strategy will first give an asset that has significantly appreciated in value to someone who is older than they are. The asset is then given back to the...

Determining the gross value of an estate

Georgia residents who are thinking about buying a property overseas for either investment or retirement purposes should be aware that foreign real estate holdings are considered part of an individual's gross estate by the government. This means that the value of these...

Strategies for reducing estate tax

Although the current federal exemption is more than $11 million, some Georgia residents may still need additional protection against estate taxes. Annual gifting is one way to do this. Individuals can gift $15,000 per year per recipient, and this means couples can...

FindLaw Network