How Will Taxes Affect My Estate?
Based in Pittsburgh, Pennsylvania, the inheritance tax law attorneys at Richards & Richards, LLP have been providing inheritance tax and estate tax assistance to individuals and their families throughout western Pennsylvania for three generations.
At our firm, you will encounter lawyers who excel in their practice area, including estate planning and Pennsylvania inheritance tax laws. We can help you minimize the inheritance tax, with the goal of reducing inheritance tax to the extent possible. We know you want to keep as much of your estate intact as possible to dispose of as you wish.
What Taxes May Affect My Estate?
There are many taxes that may affect your estate and the assets you can pass on to your heirs or others, including the following:
- Federal tax – including federal estate tax, income tax, and capital gains
- State tax – including Pennsylvania inheritance tax and state income tax
- Gift tax – including any gifts given away during your lifetime
We discuss various tax strategies with you, including utilizing the gift tax laws to minimize your estate subject to estate taxes. Currently, an individual can give away $14,000 per person ($28,000 per married couple) per year.
We Will Help You Create A Tax Plan
We stay abreast of all developments that may impact the taxes that our clients’ estates may be subject to. This allows us to offer our clients a clear picture of how to create optimal tax situations. Call 412-261-2620 or contact us online to schedule a free initial consultation.