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Estate and Inheritance Tax Planning

Protecting yourself, your wealth and your heirs.

Many individuals work hard to build their personal wealth so that they can enjoy a particular lifestyle and/or to leave an inheritance to the next generation.  It often brings them great joy to know that their heirs will be provided for by the assets that are left to that generation   However, too often such inheritances are unnecessarily depleted by substantial tax obligations and related costs, such as federal and state estate tax and probate fees.  Perhaps you saw your parents’ estate radically reduced by such costs and taxes. With the proper planning, it is possible to maximize the amount of money left to your heirs.  David M. Frees, III is an experienced Pennsylvania attorney who has been helping clients with estate and inheritance tax issues for over 23 years.  If you are concerned about estate and inheritance tax planning, contact Mr. Frees at (610) 933-8069 for legal advice and to achieve the goals you have set for yourself and your family.

The latest statistics from the Internal Revenue Service show that Pennsylvania was ranked sixth in the nation for the highest total amount paid for net estate tax in 2006, with over $749 million owed in that one year alone.  Some of these taxes were incurred by family members who didn’t know the many techniques for minimizing or legally avoiding estate tax liability.  There are avenues available to help lower the amount of money paid for estate tax and generation skipping transfer tax. Do you or your spouse worry about these taxes and the burden that could be placed on your heirs?

Federal estate tax, Pennsylvania Inheritance Tax and related laws continuously change and it is important to know and understand how these changes affect your planning, your wills and trusts.  David Frees, a partner of the law firm, Unruh, Turner Burkes & Frees, P.C. and Chairman of the Firm’s Asset Protection and Wealth Preservation Section, will be able to provide you with guidance and advice regarding estate and inheritance tax.  Estate and inheritance tax planning does not involve a “one size fits all” solution, which is why Mr. Frees and his experienced team will take the time to become familiar with your specific situation to learn about you,  your spouse or partner and your family, as well as your specific goals for yourself and your heirs.  He will then formulate and help you to implement a strategy, approved by you, that will best suit you and your family’s needs, which will help protect your assets from being destroyed by excessive taxes and fees.

David Frees and the attorneys in his section of the law firm have helped thousands of individuals who were involved in the following estate and inheritance tax matters:

• Beginning the initial process of estate and personal Legacy Planning ™
• Acting as an executor or as the trustee of a trust agreement
• In need of assistance with filing Federal Estate and Gift Tax Returns and/or Pennsylvania Inheritance Tax Returns
• Looking for ways to reduce estate tax liability
• Planning for family wealth transfers
• Diversifying an estate concentrated in the stock of one or more publicly traded companies
• Passing on vacation homes and establishing insurance trusts

As part of David Frees’ estate planning and administration practice, he provides comprehensive advice on gift and estate tax planning, including business succession, family limited partnerships, charitable giving and postmortem tax planning techniques.  He works closely with his clients’ tax and investment advisors, in order to help them reduce taxes for their heirs. 

David Frees takes a unique approach with his clients by showing them how to communicate effective strategies from one generation to the next.  Many of his clients are surprised to find that estate and inheritance tax planning are only a few of the issues that they should consider and that the more comprehensive process of passing on your financial wealth, your family traditions, and knowledge can be fun and fulfilling.  Mr. Fees has authored articles, chapters and essays that are included in several books and publications such as, The Language of Parenting: Building Great Family Relationships At All Ages, Einstein’s Business Dream, Inc., The Ultimate Success Secret, The Language of Leadership, Asset Protection 101, The Ten Most Common Errors Executors Make and How To Avoid Them and Beneficiary Controlled Trusts – Protecting The Next Generation.

Mr. Frees has created programs, including Avoiding The Ten Top Mistakes of Executors and has written articles for the past ten years that cover such issues as family vacation homes, perpetuating family businesses and perpetuating executive wealth and protecting your heirs from litigation and divorce claims.  He has also developed a proprietary process, Enhanced Estate Planning™, which gives parents and grandparents the ability to carefully and strategically plan their estates, educate the next generation, protect assets from claims and provide ongoing advice and information to heirs through technology and messages they create now to be delivered when appropriate.

Contact David Frees at (610) 933-8069 if you want to achieve the peace of mind of knowing that you have done everything possible to prepare the next generation.  If you, your spouse or other family members are concerned about tax, divorce and other issues or if you are in need of legal assistance with your estate and inheritance tax planning start the process today.  You will feel more than satisfied knowing that your heirs will be protected.

David Frees represents clients in Philadelphia, Chester County, Montgomery County, Delaware County and Lancaster County and many clients from communities such as, Berwyn, Devon, Paoli, Exton, Phoenixville, West Chester, Malvern, Chester Springs, Ardmore, Gladwyn and surrounding areas.

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Blog for Estate and Inheritance Tax Planning

• Should I Make Gifts Now As Part Of My Estate Planning?
• Quick Review of The Federal Estate and Gift Tax Changes for 2011 and 2012
• Own A Business or Corporation? Upgrade Your Estate Planning To Business Class
• The Federal Estate Tax and your Will or Trust - the War and the Uncertainty continue
• Why You Might Need A Power of Attorney FROM Your College Aged Kids
• The Federal Estate Tax And John Kluge - No Estate Tax For Those Dying in 2010
• Federal Estate Tax News For Pennsylvanians
• Estate Tax News: Pressure on Congress To Act On The Federal Estate Tax
• Almost half of American Households Pay No Income Tax
• What Life Insurance Salesmen Are Saying About Estate Taxes Behind Your Back?
• Estate Tax, Lobbiests, and New Information for 2010
• What Happens To Estate Planning As Marriages Are Replaced By Cohabitation?
• What Happens To Estate Planning As Marriages Are Replaced By Cohabitation?
• Gift Tax Myths and Realities For 2010.
• Congress has Created A Very Big Mess. What do You Do About Your Will or Trust Now?
• Why Congress' Failure Today On Estate Tax Reform Might Really Hurt You.
• David Frees Achieves AVVO's Highest Rating 10.0
• Estate Tax or "Death Tax" Revisions Pass The US House - What Will You Do?
• Asset Protection Trusts Just Got Better - Does Your Trust and Estate Planning Layer Know This?
• Will The Federal Estate Tax Ever End? Probably Not But Here is News on The Death Tax

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Library for Estate and Inheritance Tax Planning:

• When a spouse dies, it is more complicated than ever to get the right tax treatment for you as the surviving spouse and for your children. A new IRS release has answers   
  If you have assets above 1 million dollars and your spouse has passed away, you may need to file new forms. Don't be tricked by the complexity. Find out more
• Federal Estate Tax Changes For 2009, 2010,2011 and 2012 A Quick Review of Federal Estate and Gift Tax Important numbers and changes [PDF]   
  This chart walks you through the most important changes to the federal estate tax (also know as the death tax) and the gift tax changes for the years 2009, 2010, 2011, and 2012. These are the changes that may most impact your will, trust, and estate planning documents
• What is Happening In Congress - Proposed Changes To The Federal Estate Tax   
  July 2oth motion in the Senate on reinstatement and modification of the federal estate tax.
• Pennsylvania attorney David M. Frees III, Esquire named as Pennsylvania Super Lawyer and a "Top Lawyer" by Main Line Today Magazine.   
  Congratulations to our partner and Estate and Trust Section Chairman David M Frees III on being named as both a Pennsylvania Super Lawyer and as Main Line Magazine Top Lawyer in the Trust and Estate Sections.
• Gift Tax Return [PDF]   
  IRS form 709 for gift taxes
• 709 Extension To File [PDF]   
  709 Extension To File Return
• Jennifer Messa was previously with Davis, Bennett & Spiess (currently Davis, Bennett, Spiess & Livingood)in Wayne Pa, is currently with Unruh, Turner, Burke and Frees 610-933-8069.   
  Jennifer Messa reminds clients it is time for their trust, estate, and personal income tax returns 610-933-8069
• If Jennifer Messa has been your trust, estate, or tax attorney, she can now be contacted at her new firm: Unruh, Turner, Burke and Frees 610-933-8069   
  Wayne Tax attorney and trust and estate lawyer Jeniffer A. Messa was previously with Davis, Bennett & Spiess (Currently Davis, Bennett, Spiess and Livingood) is now, Of Counsel with David M. Frees III and Unruh, Turner, Brke and Frees
• Why Your Will Might Not Work Any Longer and What You Need To Do About Your Estate Plan.   
  Why 2010 needs to be a year for reviewing your will, trust, power of attorney and estate planning documents. How and why you update wills that might not work any more. David M. Frees on 2010 and estate planning changes - the perfect storm of danger for tax payers.
• Get This Quick Checklist to Protect Yourself and To End The Year The Right Way   
  A quick review of gifting rules, and reminders about the end of year essentials for any good estate plan and asset protection planning.
• Asset Protection Trusts and The Federal Estate Tax - Important News. If you have or want an asset protection trust... [PDF]   
  This is a private letter ruling from the IRS on the important question of whether or not domestic asset protection trusts are included and taxed for federal estate tax purposes under the Internal Revue Code.
• We try to present many points of view on issues important to our clients. This article by the Heritage Foundation advocates 7 Reasons for Repeal.   
  Reasons to repeal the federal estate tax or or "death tax," depending on your view.
• Estate Planning End of Year Check List [PDF]   
  This great checklist walks you through a number of important decisions, steps, and tasks for the end of any year to make sure that your estate and financial planning are up to date, and valid.
• Get Federal Tax Credits for Thinking Green   
  This article explains the new federal tax credits that have been put in place to reward homeowners for adding energy- efficient home products. Energy-efficient home products include replacing storm windows, adding insulation, replacing a heating system, and adding central air. If you are thinking about improvements for your home or a home you are building look into these tax credits and see if you can save money and make your home and the world a little more energy efficient!
• Six Important Things To Review In Your Estate Plan   
  The economic climate today is uncertain and the Obama administration's changes to the estate tax make it a good time to review your estate plan. This article explains in depth six things to consider while reviewing your estate plan such as Formula Clauses/ In Your Will Or Trust, A GRAT, and Family Limited Partnerships.
• Pennsylvania Estate Planning and Asset Protection Attorney Interviewed [PDF]   
  Interview of will, estate, and asset protection lawyer David M. Frees III on Enhanced Estate Planning. David tells you how to protect your assets, your wealth and your heirs and family from lawsuits, taxation, and family disputes. David Frees represents clients throughout Pennsylvania, Chester County, Montgomery County, Philadelphia, Phoenixville, Paoli, Ardmore, West Chester and other communities.
• Bi partisan Tax Policy - Thoughts and Direction [PDF]   
  Estate taxes and income tax policy can have a dramatic effect on your ability to build and to preserve assets. Currently, federal tax policy is haphazard and reactive. This article examines new appraoches and advocates a simpler tax code.
• The essential tax laws for this year   
  The best will lawyers, and trust, probate and estate lawyers are telling their clients not to wait for the new law. You need your estate plan to work now. This brief article reviews what David M. Frees III is telling clients in Pennsylvania and in Chester County, Philadelphia, and Montgomery County to do in 2009 pending the passage of a new law. What to make gifts to children and grandchildren? What are the new shelter amounts for federal estate taxes?
• What Is The Government Forgetting and How The Estate Tax Factors into Stimulous   
  This New York Times piece is an interesting overview of what a number of experts think is missing from the government's latest economic package - and why the federal estate tax should be eliminated - but won't be.
• Future of The Federal Estate Tax - Two Views   
  Two possible views of what will happen under Obama and a democratic congress.

View All

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Frequent Questions for Estate and Inheritance Tax Planning:

• How much is the annual gift tax exclusion?
• How much can I give away during my lifetime?
• What taxes affect estate planning?
• Does the federal estate tax apply to me?
• What is the Pennsylvania Inheritance Tax?

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Videos about Estate and Inheritance Tax Planning:

• Does Owning a Business Impact Estate Planning in Pennsylvania?
• Pennsylvania Estate Planning Attorney End of Year Changes
• Inheritance Tax? Pennsylvania Estate Planning Lawyer Explains
• How Much Will My Estate be Taxed and Can I Avoid Taxes? PA Estate Planning Lawyer Answers
• Beneficiary Controlled Trusts
• How Much Can I Give without Filing A Gift Tax Return?
• No More Death Taxes - On the View.
• Keeping Assets in The Family or How I Got The Best of A Very Bad Stock Market

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Web Resources for Estate and Inheritance Tax Planning:

• Annual Gifting In 2009

  Description: Find out how much you can give every year without using up your million dollar exemption

• Bi Patisan Tax Reform Issues and Thoughts

  Description: A brief review of some of the tax policy issues that might affect you

• Estate Tax Issues A Slide Show

  Description: Proposals and pros and cons of the federal estate tax

• Federal Esate Tax Calculator

  Description: This is a quick estate tax calculator to discover if the tax applies to you.

• Life Insurance Is Taxable at 42 Percent

  Description: A great overview of Life Insurance Trusts. How and Why.

• More blog articles for Estate and Inheritance Tax Planning

  Description: More articles and information on the best will lawyer, best trust lawyer, and best estate lawyers in Chester and Montgomery County Pennsylvania and other topics including elder law, nursing home care, asset protection, and trust planning.

• More on the repeal of the federal estate tax

  Description: More information on the federal estate tax repeal for 2010 and the return of the federal estate tax law in 2011.. If oyu're a Pennsylvania resident you probably need to review your plan this year and be prepared for some nasty chages when the old law returns in 2011.

• Pennsylvania Department of Revenue

  Description: This link provides access to the State of Pennsylvania's library of forms and publications on Inheritance Taxes

• Planned Giving

  Description: A great newsletter on Planned Giving Topics. Want to reduce taxes and support a charity or non-profit under your will or through a lifetime gift? Information rich newsletter on planned giving and estate plans

• Self Cancelling Installment Notes A Planning Technique

  Description: This link provides information for Pennsylvania families considering the sale or transfer of businesses or real estate within Pennsylvania.

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