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Carleen & Caramanica, P.C.
Carleen & Caramanica, P.C. offers a wide range of tax planning and
preparation services to business and individuals, including:
- Representation before state and federal agencies in tax disputes or
claims
- Tax planning
- Tax preparation
Estate Taxes
Whether your estate is large or small, substantial savings will result in properly planning
for the possibility of estate taxes and the administration of your estate. Most people don't
generally concern themselves with estate taxes because they tend to underestimate the value
of their estate. Your estate for estate tax purposes includes all the assets which you have
an interest in including jointly held property, life insurance proceeds and the value of
beneficial interests in assets held in trust for your benefit. With sky-rocketing real estate
values, life insurance provided by your employer, and growing mutual fund and 401K/pension
accounts, your estate may be much higher than you have previously estimated. Failure to plan
could cost you or your loved ones thousands of dollars in estate taxes and probate fees. For
example, a taxable estate of $2,000,000 could result in an estate tax of over $500,000.00.
This tax could be eliminated in its entirety with proper planning. Similar results can be
achieved to a greater or lesser extent depending on the size of your estate. Attorney John
Carleen, with over 30 years of experience, is uniquely positioned to professionally plan,
draft and implement those instruments and strategies necessary to reduce taxes and costs of
administering the estate.
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