Winnipeg Estate Planning Attorney
A primary purpose of estate planning is to ensure the estate is preserved for the beneficiaries. Taxes can significantly detract from an estate and it is important to strategize in order to avoid this however possible. Obtaining the help of a Winnipeg estate planning lawyer
is a vital step in ensuring this is done thoroughly and competently.
Errors in such a particular matter are easily made unless one is well trained on all applicable laws and related matters. Unfortunately, such errors can be incredibly costly. At Assiniboia Law Office, we work with the client's best interests in mind. We will ensure we have an understanding of your objectives and concerns so we can include these in our plan for minimizing tax.
Tax Implications of Estate Planning
Our knowledge and experience can greatly benefit your peace of mind as well as the well-being of your family. Taxes do not have to destroy your estate, as there are many ways in which it may be protected from unnecessary tax. Some of these include:
- Transferring assets to individuals in lower tax brackets
- Ensuring assets are jointly held in order to avoid probate fees
- Establishing trusts for beneficiaries
- Incorporating charitable donations which result in tax credits
- Obtaining insurance for taxes and creditors as needed
Although planning for one's passing can be a hard task to face, it is a wholly worthwhile one. In this way, you can ensure your loved ones are cared for once you have gone. Having these financial and logistical matters squared away also frees your family and friends of this burden at such a difficult time. If done skillfully, it can sometimes result in immediate tax benefits. This can include such methods as gifting
, estate freezing and the establishment of trusts. We are here to help you address this matter as easily and intelligently as possible.