Bay Area Estate And Tax Planning Law Firm

Berkeley Tax Savings Trusts Attorneys

If you have a substantial amount of assets, placing them in a tax-savings trust will not only provide for family members and preserve family legacies, it will also reduce your current and future tax liability.

At the Law Offices of Connie Yi, PC, I help individuals throughout the Bay Area protect their assets, reduce their current tax liabilities, and transfer wealth to the next generation in the most tax-efficient manner possible.

Tax Savings Trusts Lawyer In Mountain View

I am attorney Connie Yi. My background allows me to provide my clients with unique insight into their financial circumstances and future tax liabilities and take advantage of tax planning tools to protect their future financial interests.

Life insurance policies are oftentimes some of the largest financial assets individuals own. When these benefits are paid out to beneficiaries, large tax implications can result. Creating an insurance trust not only lessens the tax burden on beneficiaries, it also helps safeguard those funds against any creditors of the beneficiaries, prevents beneficiaries from making poor or risky investment decisions and ensures family members have the financial support they need to pay for the daily costs of living. Creating an insurance trust also removes the amount of that benefit from your gross estate upon death, thus lessening the amount of estate taxes your estate will pay.

Grantor’s trusts are another estate planning tool used to move high-value assets out of an individual’s estate, thus reducing their future estate tax liability. Individuals often place income-producing assets in trusts. By doing this, they are able to accumulate income for beneficiaries and reduce their yearly income tax liabilities. In addition, because the income accumulates in the trust instead of being held in a bank account, your future estate will be smaller and subject to less, or no, estate tax.

Selecting a trustee is an important decision. A trustee has many responsibilities, including managing trust assets for the benefit of beneficiaries, making smart investment decisions and determining when to pay benefits out to beneficiaries. As an experienced estate planning attorney, I understand the importance of selecting the right trustee. Together, we will evaluate your options and chose an individual who will best serve your needs.

Reduce Your Tax Liabilities — Contact The Law Offices Of Connie Yi, PC

Contact me, Alameda County tax-savings attorney Connie Yi, at 888-312-6978 to schedule a consultation. I speak fluent Mandarin and Cantonese.