Planning area

Estate and gifting coordination

Gifting decisions affect income tax as well as estate tax, and they are often made without looking at both. The plan sets out the tax side of a family’s gifting so it can be coordinated with their estate attorney.

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What we look at

Annual exclusion gifts to children and grandchildren
Use of the lifetime gift and estate exemption
Which assets to give and which to hold for a step-up in basis
Gift tax return filing requirements
Income tax effects of trusts on the family
Planning around scheduled changes in tax law

Working with estate counsel

EquityNav does not draft estate documents or give legal advice. The plan is written to be shared with the family’s attorney and sets out the tax figures they need to design or update the estate plan.

Questions

Common questions.

Do you draft wills or trusts?

No. Legal documents are prepared by the family’s estate attorney. The plan supplies the tax analysis that supports that work.

Is this only for families subject to estate tax?

No. Gifting and basis decisions affect income tax for many families well below the estate tax threshold.

Related planning areas.

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See a certified plan built for one of your families.

Tell us about your firm and we’ll follow up within 2 business days to schedule a walkthrough.

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