During the estate planning process, it is important to consider the implications of estate taxes. If you have a sizable estate, estate taxes can command a significant portion of your assets. Fortunately, an estate lawyer in Baltimore can help you plan to reduce or avoid the burden of estate tax on your beneficiaries.
Watch this video to learn more about the estate tax. This tax is levied on an estate that exceeds that year’s benchmark at the rate that is in effect that the person’s time of death. These rates are changed frequently by the government. Through careful estate planning, you can distribute your estate in your will in a way that protects your loved ones from this tax and preserves your resources.