Gifting Strategies
The Law Office of Steve Ortega, PLLC, helps individuals with gifting strategies in the El Paso, TX area. Gifting strategies are the best way to decrease the value of your estate, which will also reduce your estate taxes. There are different ways to gift assets to your family or charitable organizations, but the government places restrictions on the amount one individual can gift each year. If you have Trusts, gifting strategies also help both the grantor and beneficiary, reducing the taxes. Contact the Law Office of Steve Ortega, PLLC, if you or a loved one would like to give money or assets to reduce estate value or taxes.
Gifting strategies include:
• Paying for someone’s health care expenses
• Gifting cash to someone
• Paying for someone’s school costs
• Gifting assets to your significant other
Any of these strategies legally qualify as gifting strategies and decrease the value of your estate and reduce your estate taxes. Certain gifts do allow more than the qualifying maximum. Payments made directly to a school or medical facility are also part of estate planning and can potentially reduce your estate taxes. The Law Office of Steve Ortega, PLLC, will ensure you have a well-prepared gifting strategy to save you money on estate taxes.
