17 May Avoid a legacy of taxes
Seven ways to help minimize taxes on your estate.
American inventor politician Benjamin Franklin wrote, “nothing in this world can be said to be certain except death and taxes” And while the thought of death can be unpleasant so can the prospect of leaving your family a large tax bill. With a little planning, you can help minimize the taxes on your estate once you have passed on. Here are a few tax saving strategies to consider.
- Leave assets to your spouse
- Give assets away
- Choose beneficiaries with a tax strategy in mind
- Make the most of exemptions
- Donate to charity
- File multiple tax returns
- Buy life insurance
To read more in depth about each of these strategies in this article by Manulife, CLICK HERE.
If you are looking to minimize your estate’s tax bill and wish to leave more assets to heirs, planning now can save a lot of money and difficulty for your loved ones. Talk to Harry Perler or David Olejnik to see if any of these tax savings strategies can help you achieve your financial goals. Harry and David can review your estate plan and help identify assets that could present tax planning opportunities.