for the future requires consideration of both tax and non-tax
issues that may affect one’s heirs.
Estate, Gift & Generation Skipping Tax & Planning
Our transfer tax planning and compliance practice developed as a
direct result of our significant involvement with individual and
family financial planning and income tax matters. As accountants
and tax compliance professionals were are particularly well suited
to handle the difficult and often confusing issues that arise when
a death occurs in the family.
While tax savings is fundamental to all areas of tax compliance, often the most critical area of planning involves non-tax issues. Questions about whether a surviving spouse will be cared for or protected from subsequent events, whether a daughter will meet the "right" man, or whether a happy-go-lucky son will survive an impetuous spending spree are among a substantial number of issues that need to be discussed and considered in any transfer program. We take the time to discuss these issues within the context of plan design, all the while putting the issues in perspective of the potential savings and/or cost of a particular choice.
The impact of transfer taxes can be quite severe, particularly
when documents have not been carefully considered. Russell, Brier
& Co. LLP does not draft estate instruments. Significantly,
this puts us in the enviable position of having worked with a variety
of estate documents, often providing guidance in areas that may
not have been properly thought out in the first instance. Accordingly,
our tax compliance work has made us particularly well suited to
assist you and/or your legal counsel with the planning process.
No discussion of tax planning is complete without considering the
potential of charitable giving. We are well versed in the multitude
of charitable vehicles that can give rise to substantial tax savings,
often at minimal cost, while also providing for the betterment of
society as a whole.
Stephen D. Raich
William E. Flanagan
Ronald S. Perry