Estate Planning and ProbateWith extensive experience in estate planning and estate taxation, Vacovec, Mayotte & Singer counsels families on estate planning opportunities and on state tax and probate requirements for estates of decedents. Frequently Asked Questions about Estate Planning Drafting Documents for Tax Reduction | Family Estate Tax Planning
Drafting Documents for Tax ReductionVacovec, Mayotte and Singer provides estate planning for individuals, couples and families that focus on estate tax savings and fulfillment of the client's testamentary wishes.
Family Estate Tax PlanningIn reviewing the entire family holdings, the firm provides sound advice through current asset freezing techniques, gift giving programs, trusts and testamentary vehicles.
Probate of EstatesThe firm offers full services in the probate of estates, representation in the probate courts, preparation of estate and probate estate tax returns and estate administration.
Closely Held BusinessesThe firm helps families to plan the transfer of privately held businesses for both tax and non-tax purposes. We have relationships with highly regarded professional appraisers for obtaining valuations that are required in connection with gifts of family limited partnership interests , estate tax returns, intentionally defective grantor trusts, and estate allocations.
Fiduciary Services and Financial PlanningAt the client’s request, Vacovec, Mayotte and Singer provides fiduciary services for clients and their families. The firm often acts as executor and trustee for estates and trusts and as guardian or conservator for clients.
Family Limited PartnershipsThe firm has significant experience in establishing and administrating family limited partnerships under state law. Transfers to such partnerships may allow significant valuation discounts for gift and estate tax purposes.
Qualified Personal Resident TrustsQUALIFIED PERSONAL RESIDENCE TRUSTS (QPRTs): The firm has established many QPRTs, an Internal Revenue Code sanctioned method of transferring the client's principal residence or vacation home to the next generation with a valuation discount.
Insurance Planning and TrustsThe firm assists clients in determining whether there is a need for insurance protection. When insurance is needed, the firm works with agents to insure that such policies are held in the most tax advantaged manner.
Grits, Grats, & GrutsThe firm explains the requirements, as well as the advantages and disadvantages, of establishing the tax advantaged grantor retained income trust, grantor retained annuity trust and grantor retained unitrust, trusts that may allow for valuation discounts for assets passing to a younger generation during the client's lifetime.
Post Mortem Tax PlanningWhen planning has been incomplete or inadequate during an individual's lifetime, this service can produce considerable savings to reduce tax and probate costs. |
