What Does a Tax Estate Attorney Do?

A Tax Estate Attorney can help with tax law, estate planning, heir protection and a variety of other legal issues that might come up. If you are considering a career in this field, it is important to focus on rigorous studies and good grades to make sure that you get the best law school possible and have the opportunity to gain valuable experience working with other attorneys, accountants and specialized professionals.

An experienced estate tax lawyer will be able to guide clients through the complicated weave of state and federal laws. These include the basic exclusion amount for New York estates (currently at $5,930,000 and slated to change in 2022) and the federal exemption level, currently at $11,700,000. A skilled attorney will also be able to minimize these taxes by utilizing advanced strategies such as living trusts, trusts for children or disabled individuals, dynasty trusts, family limited partnerships and specialized investment trusts.

In addition, a knowledgeable estate tax lawyer will be able to help clients who have been hit with an IRS audit. This includes representing them in their dispute with the Service, helping them resolve their case and providing guidance on future planning to avoid similar issues.

The estate of the deceased person must go through probate before the executor can start to handle their affairs. This means obtaining Letters of Testamentary or a similar document from the court authorizing them to act on behalf of the estate. An experienced lawyer can handle this and many other tasks for the client including preparing an estate tax return, submitting tax documents to the Service and filing a claim for exemptions such as the homestead allowance.

Estate tax lawyers can also help heirs with property transfer methods that minimize gift and estate taxes. These techniques can include annual gifting, trusts for children or disabled individuals and revocable living trusts. They may also advise on the tax implications of a merger or acquisition and represent their client in an administrative hearing with the IRS.

Hodgson Russ’s tax attorneys are experienced in estate planning, advising wealthy individuals on how to minimize their taxes and representing them in income, gift and estate tax disputes with the IRS. They have significant experience assisting families with property tax issues that arise from their residences in both New York and Florida. They can file protests via the tax commission and, if necessary, commence judicial review proceedings in Supreme Court to lower real estate tax assessments. They can also assist in resolving state and local property taxes for non-resident individuals and businesses.

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3649 Atlantic Ave Suite D
Long Beach, CA, 90807
Call Us: 562-426-8499
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