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Minimize Estate Taxes

Minimize Your Estate Taxes in Jacksonville, FL

Owenby Law, P.A. Can Help You Plan for the Future – Call (904) 770-3141

At Owenby Law, P.A., our Jacksonville estate planning attorneys offer a full range of services designed to mitigate the estate taxes that are deducted during probate. We prepare comprehensive estate plans for clients that allow them to transfer as much wealth to their heirs as possible. When the principle of an estate dies, we utilize proven techniques to reduce the portion of the net assets that are subject to taxation by the IRS.

Whether you are the principle of an estate, an executor, or one of the beneficiaries, we encourage you to contact the team at Owenby Law, P.A. if you have questions about estate taxes. During a free initial consultation, we can explain which estate planning strategies will help reduce your estate tax liabilities. We can also address any other elder law matters you need assistance with, so please do not hesitate to give us a call today.

Worried about estate taxes? Call our firm at (904) 770-3141 for a free initial consultation.

How Estate Taxes Are Deducted By the IRS

Before any beneficiary to an estate can receive his or her proceeds, all credit obligations must first be settled.

In order to settle credit obligations, the following steps must take place:

  • Lenders that have outstanding claims against the estate must be made whole during probate.
  • Once this has been done, tax exemptions are deducted from the remaining balance.
  • Once the tax exemptions are deducted, what remains is subject to the federal estate tax.

What Are the Most Methods for Reducing Estate Taxes?

The greater the net value of the estate, the more taxes are deducted by the IRS. Our Jacksonville estate planning lawyers assist principles in reducing the amount of inheritance taxes that are paid out upon their deaths. Similarly, our probate attorneys can utilize the tax law to shelter as much of the estate from probate taxation as possible. Owenby Law, P.A. has a reputation for substantially reducing the tax liability of our clients' estates.

Some of the most popular methods of reducing estate taxes include:

  • Married couples using both spouses’ estate tax exemptions
  • Making annual tax-free gifts to heirs, like children and grandchildren
  • Transferring a life insurance policy to an irrevocable life insurance trust
  • Transferring your home to a qualified personal residence trust (QPRT)
  • Transferring assets to a grantor retained annuity trust (GRAT)

Seek the Strategic Services of Our Jacksonville Elder Law Lawyers

If you are the principle of an estate, you did not work to accumulate your wealth only to have it taken away by the Internal Revenue Service (IRS). If you are the executor of an estate, you have the legal and moral obligation to see that the beneficiaries receive the maximum amount that they can. In either case, our elder law attorneys at Owenby Law, P.A. can show you safe, time-tested ways to reduce your estate tax liability.

Contact Owenby Law, P.A. for a strategic approach to your estate planning needs.

How Can We Help?

  • Meet Your Legal Professionals
    We put the time and care into your case that it deserves, and we are here to guide you through this process.
  • Handling All Aspects of the Legal Process
    We are the reputable and reliable law firm you need on your side during your legal matter. We handle all types of cases!
  • Answers to Your Legal Questions
    The legal process can be daunting, and we understand you may have questions. Review our FAQ page to find helpful answers.

The Benefits of Hiring Owenby Law, P.A.

Owenby Law, P.A. is here to help you get the results you need with a team you can trust.

  • Free Initial Consultations
  • Successfully Handled Thousands of Cases
  • Backed by Over 20 Years of Experience
  • Personalized, Results-Oriented Representation
  • A Team of Compassionate Advocates On Your Side
  • Flexible Payment Plans Available