Fairfield County Estate Tax Attorneys

Protecting Your Assets from Taxation Is How Our Danbury, Southbury, and Westport Teams Excel

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According to Connecticut law, all Connecticut estates must file an estate tax return. According to federal law, large estates are required to file federal estate tax returns. Many other states have estate tax return requirements. Exemptions from the estate tax at the federal and state levels are frequently changed. When the value of an estate exceeds the applicable exemption, estate tax burdens can be quite large.

At Chipman Mazzucco Emerson, we understand the importance of protecting your assets so they can be transferred to your family and other beneficiaries. With extensive experience in dealing with the tax aspects of estate planning, we can work with you, your family, and your personal financial advisers, to find ways to minimize—or even eliminate—estate tax obligations.

Finding Exemptions and Deductions

When an estate tax return is required, we will carefully review your estate and help you determine whether you qualify for certain exemptions and deductions, including:

• Estate tax exemptions that apply at the federal and state level allowing all or part of an estate to be exempt from taxes. Since 2010 federal exemptions have ranged from $5,000,000 to $11,700,000 in 2021. Proposals to increase federal and state tax levels appear with regularity, so we pay close attention to the latest planning techniques. State exemptions have been lower but are frequently changed.
• The marital deduction, which allows your assets to transfer to your surviving spouse tax-free.
• Other deductions including funeral expenses, charitable donations and costs associated with administering the estate.

Protect Your Assets with Estate Planning

One of the best ways to protect your estate from taxation is to create a strong estate plan. Through trusts and other estate planning tools, you can shield your assets from taxes completely or minimize your estate’s overall tax burden.

Our estate planning lawyers have the skill and experience to help you protect your estate. Let us know how we can help you.