High-Net Worth Estate Lawyers in Colorado
Let Us Preserve Your Legacy
Knowing how to negotiate the complexities of estate law is critical—particularly for those with high-net worth estates that may be subject to estate tax depending on the federal estate and lifetime tax exemption. Many Colorado families are surprised to discover that the federal and state government imposes estate taxes on those exceeding this value threshold. If you are over the limit for estate taxation your estate could be subject to taxes at a rate of up to 40%.
This is why high-net families turn to the probate team at Jorgensen, Brownell & Pepin, P.C.
With over 40 years of combined experience, we offer proactive planning strategies that preserve your wealth and ensure more of your estate goes where it belongs—your family, not tax authorities. Whether you need help planning your estate, wish to explore trusts, or are planning strategic gifts, we can help. Contact us today!
Our Approach: How We Help High-Net-Worth Families
When you have an estate valued above the federal exemption limit, the stakes are high. That’s why you need an experienced legal team on your side. With over three decades of experience, we offer strategic solutions to preserve your legacy and estate.
Estate Planning: Together, we will clarify and execute your estate planning goals, carefully assessing the value of your estate and coordinating your life insurance, retirement accounts, and other estate planning assets with the rest of your plan.
Trust Formation and Administration: Let us help you establish a trust to ensure you avoid probate, minimize unnecessary tax burdens, and make special lifetime provisions while protecting your beneficiaries.
Strategic Gifting Plans: Our attorneys specialize in giving clients the best of both worlds—financial security for themselves and their loved ones while also making the world a better place. We will help you implement gifting strategies that gradually transfer wealth during your lifetime to successfully reduce your tax burden.
Tax Planning: Tax complications can diminish estate values and disrupt distribution, potentially leading to prolonged legal disputes among heirs. Our attorneys design strategies to minimize tax burdens, ensuring more of your estate goes to those who deserve it.
Why Colorado Chooses Jorgensen, Brownell & Pepin, P.C.
It’s your life. We simply give you the tools you need to maintain control of it. To ensure you have peace of mind and confidence, our Colorado attorneys offer:
- 40+ Years of Combined Experience: We’ve built a reputation on competence and compassion. Our track record speaks for itself and we encourage you to see what our satisfied clients say about us.
- Custom Legal Solutions: We don’t believe in one-size-fits-all solutions. You are as unique as your case. We will work with you to create a custom strategy tailored to your needs and goals.
- A Comprehensive Approach: Our team has deep knowledge of all matters related to estate planning. From avoiding probate and setting up a charitable remainder trust to reducing tax liability, we can help.
- Compassionate Guidance: We believe in efficiency, but not at the expense of kindness and compassion. Our team is dedicated to helping clients overcome common legal obstacles with care.
Frequently Asked Questions
How can I minimize estate taxes upon my passing?
Common strategies include setting up trusts, making lifetime gifts, and utilizing tax exemptions. Our lawyers can help by designing a tailored estate plan that incorporates these tools, ensuring your assets are transferred to your heirs with minimal tax liability. They will guide you through the intricacies of tax laws and help implement strategies that align with your financial goals and family situation.
Can establishing a family trust benefit my estate planning objectives?
Yes. It can offer numerous benefits, including tax savings, asset protection, and ensuring that your wealth is managed and distributed according to your wishes. Our lawyers specialize in trust and estate law and can help in setting up the right type of trust for your situation, addressing your specific needs and objectives while optimizing for tax efficiency and control over your assets.
What are effective methods of charitable giving that also provide estate tax benefits?
There are many options, including setting up charitable trusts, donor-advised funds, and direct bequests in your will or living trust. These methods can reduce your taxable estate and provide lasting support to your chosen charities. Our probate lawyers can advise you on the most tax-efficient methods of charitable giving that align with your philanthropic goals and estate planning strategy, ensuring your legacy makes a lasting impact.
How can I ensure my heirs are financially responsible with their inheritance?
Our lawyers can help structure your estate to include trusts that set conditions for inheritance, such as age-based distributions or specific milestones (e.g., graduation, marriage), to encourage financial responsibility. They can also establish incentive trusts that reward certain behaviors or achievements.
What's the best way to handle a family business in my estate plan?
We suggest setting up a succession plan that outlines the future leadership of the business and the transfer of ownership. This may involve setting up buy-sell agreements, transferring shares into trusts, or other strategies tailored to maintain business continuity and minimize tax implications.
What are the advantages of a living trust over a will?
A living trust provides several advantages over a will, including avoiding probate, which can save time and money, maintaining privacy about the estate's distribution, and allowing for more flexible management of your assets if you become incapacitated. Our lawyers can explain these benefits in detail and help determine if a living trust is suitable for your estate planning needs.
Helping You Avoid Tax Liabilities with Expert Legal Guidance
Jorgensen, Brownell & Pepin, P.C. can help you avoid or reduce unnecessary tax liability. Let our experienced attorneys help you plan so your beneficiaries are not forced to liquidate assets to pay burdensome estate taxes. Contact us today!
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