Tax Planning And Estates

Tax planning is an important component of most estate plans. Without experienced legal guidance, your loved ones could be exposed to unnecessary taxation when they inherit your assets.

If you are seeking tax planning guidance in Springfield or southwest Missouri, Lisha A. Prater, LLC is here for you. We provide clients with more than 20 years of experience handling complex estate planning and probate matters.

Protecting From Unnecessary Taxation

The federal estate tax does not apply to estates valued at less than approximately $5 million for individuals or $10 million for married couples. Nonetheless, people who inherit smaller estates can still have tax issues to contend with. Inheriting an income-generating asset, for instance, can expose you to tax liability. Inheriting IRAs, 401(k)s and other retirement assets can also have tax consequences.

Whether you are establishing an estate plan or stand to inherit estate assets, we can evaluate your situation to determine which tax planning steps need to be taken.

Let Us Guide You Through The Process

Lisha Prater and our knowledgeable staff are here to offer you guidance in establishing all types of estate planning documents. If you have concerns about estate taxes in Missouri, contact us online or by telephone at 417-459-4390 to arrange a consultation with an experienced estate attorney.