Now is the time to capitalize on the tax planning techniques that are still available to you and that have special potency under current economic conditions, including:

ü  Family Limited Partnerships

New legislation has already been introduced in Congress to eliminate the discounts available for gifts of partnership assets. I can help you ensure that your gift will be “grandfathered” under existing law.

ü  GRATs

GRATs are trusts used to make future gifts of appreciating property to children and grandchildren on a virtually tax-free basis. I can help you discern if you have an asset that will appreciate at a rate faster than the current “applicable federal rate” or AFR, which would allow you to transfer any excess appreciation to children and grandchildren tax-free.

ü  Charitable Lead Trusts

A CLT pays an annuity to charities that you choose and then, after a period of years, the principal is paid out to your children or grandchildren. I can help you decide which assets to invest to minimize any gift or estate tax.

ü  QPRTs

Low real estate values and interest rates make this an excellent time to consider a qualified personal residence trust. A QPRT is a trust to which you (and your spouse, if married) transfer your primary residence or vacation home for a set term that is less than your life expectancy. Many of my clients have used QRPTs to significantly reduce the size of their estates for tax purposes, while maintaining the property within the family. I can help you look at QPRTs to see if they are an option for you.

Many of my clients have been reluctant to incur the expense of estate planning during these uncertain times. That's understandable. But the current circumstances contain unparalleled opportunities for tax savings that could actually help you financially.

I welcome the opportunity to meet with you to evaluate your personal situation and discuss how you can take advantage of the current opportunities available to you and your family. Please contact me to set up a complimentary one-hour consultation where we can discuss your needs and how I can help you.

Sincerely yours,

Daryl B. Golemb