Estate Planning Case Study: Maximizing Estate Tax Exemptions
Meet the Davis family, consisting of John, Mary, and their three children. Their assets included a jointly owned home with $400,000 in equity, $150,000 in investments, John's $270,000 401(k), Mary's 401(k), and life insurance policies totaling $300,000. While these assets, when the joint interests were divided, kept each of them just below the Massachusetts estate tax threshold, a recent inheritance had significantly increased their net worth, putting them well above it. In addition, they held business interests in an S Corporation, whose valuation was unclear.
Estate Planning Solutions
The Davis family's estate planning journey demonstrates the importance of proactive measures to preserve wealth and minimize estate tax burdens. Through careful consideration and personalized solutions, we assisted them in achieving peace of mind, knowing that their legacy would endure and provide for generations to come.
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