Listen "How to Legally Avoid Capital Gains Tax and Keep More Wealth in the Family"
Episode Synopsis
👉Get started on your estate plan—watch our, on-demand workshop: https://www.daytonestateplanninglaw.com/how-to-not-go-broke-in-a-nursing-home-even-if-you-think-its-too-late/Ted Gudorf, a certified estate planning attorney, highlights the crucial role of capital gains tax planning in protecting family wealth. He explains key concepts such as unrealized capital gains, the stepped-up basis rule, and advanced strategies like charitable remainder trusts and installment sales. Gudorf stresses that proper timing and a comprehensive estate plan are essential to reduce tax burdens and secure a lasting financial legacy. ======================= Takeaways Capital gains taxes can significantly impact family inheritances.Proper planning can legally eliminate capital gains taxes.The stepped-up basis rule allows heirs to inherit assets at current value.Holding onto appreciated assets until death can save taxes.Charitable remainder trusts can provide income while avoiding capital gains taxes.Installment sales can spread capital gains tax over multiple years.Opportunity zones can defer and reduce capital gains taxes.Timing is critical for implementing tax strategies effectively.Comprehensive estate planning is essential for preserving wealth.Working with professionals is crucial to navigate complex tax laws. Resources:Gudorf Law GroupThe Ohio Estate Planning Guide - Free BookGudorf Law: What We Do and How We Help WebinarDon't Go Broke in Nursing Home WorkshopWhen a Loved One Dies: A Legal Guide - Free BookSubscribe on YouTube
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