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Narasimha Murthy & Co., Cost Accountants
Narasimha Murthy & Co., Cost Accountants
Estate planning creates a master plan for the management of your property during life and the distribution of that property at death. A major goal of estate planning is to minimize potential taxes without interfering with your other financial goals. Common estate planning issues addressed in the wealth management process include the transfer of wealth, minimization of transfer taxes, asset protection, charitable giving.
Wealth transfer planning involves the smooth transition and distribution of wealth according to your wishes. With proper estate planning, you decide to whom, how, and when your assets will be distributed, as well as who will manage your estate or business.
An asset protection plan first identifies potential exposure and then identifies preventive tools and strategies to reduce exposure.
Charitable giving is motivated by both personal and tax incentives. Congress encourages charitable giving through tax legislation that can minimize your income and estate taxes.
For most people, estate planning will:
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