Wealth Management

Wealth Management
|Marc Specht
| Nov 03, 2017

Planning for Tomorrow: Importance of Proper Estate Preparation

Wealth Management
|Marc Specht
| Nov 03, 2017

One of our accounting partners has a client whose father (in his late 80s) owned Manhattan real estate with an approximate value of $18M. Nearly all of his net worth was tied up in this property, which therefore presented the issue of how to cover the estate tax due upon death without having to liquidate the property. We discussed options of how to reduce the father’s taxable estate, by gifting and transferring assets while living, but he had already taken advantage of his lifetime exclusion in a previous property gift to his children.

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Planning for Tomorrow: Importance of Proper Estate Preparation2019-03-29T17:48:02-05:00