Wealthy individuals will most likely submit to an estate tax during the probate process. This means their estate will be taxed at a specific rate based on its estimated market value.
If you need help with estate tax planning, look no further than Beck Law Firm. With several years of experience in estate tax law, we have built a strong reputation for providing exceptional legal service to our clients.
Find out how a consultation with our Lubbock estate tax lawyers can get your estate tax-compliant while reducing its tax burden.
We Help With Estate Planning in Lubbock, TX
Estate planning is a comprehensive and often complicated process. When you have a valuable estate, it can become difficult to settle the matter of probate in Lubbock, Texas.
Fortunately, the legal team at Beck Law Firm has experience with estate planning and tax preparation. We will help you understand your tax burden and pursue the best course of action for your estate.
On top of that, our team will maintain communications with the Internal Revenue Service (IRS), giving you the peace of mind you deserve.
We Have Many Years of Experience in Estate Tax
Estate tax is an area where tax law and probate intersect. If you need help managing your estate’s tax bill, you’ll need to hire a lawyer that has mastery of both disciplines.
Luckily, Beck Law Firm has several years of experience handling minor and complex estate tax cases. We take a fully-customized approach to manage each case with high attention to detail.
If you’re going through the probate process, you’ll need help from an experienced attorney that knows the ins and outs of estate tax. Otherwise, you run the risk of collecting an exorbitant tax bill or falling out of compliance completely.
Let the team at Beck Law Firm help you manage your estate tax, maintain tax compliance, and save money in the process.
Our Accountants and Lawyers Understand Estate Tax Law
Demystifying estate laws requires a deep understanding of both accounting and jurisprudence. Our legal team has experience in both areas, helping hundreds of clients settle their estate tax obligations.
Kristen Beck-Perez, our managing attorney, is licensed to practice law in New Mexico and Texas. She is also a Certified Public Accountant (CPA) and accredited by the Texas Board of Public Accountancy.
Along with her team, Beck-Perez built a strong reputation from her accounting and finance backgrounds. If you need an attorney who can provide both financial and legal guidance, look no further than Beck Law Firm.
Our Additional Estate Planning Services
If you need estate tax services in Lubbock, Texas, you may require additional services for estate planning.
Here are the estate planning services we provide:
- Wills and trusts
- Estate taxes and gift tax planning
- Asset protection
- Special needs planning
- Business succession planning
- Powers of attorney
- Healthcare directives
- Guardianship designations
- Charitable giving
- End-of-life arrangements
Whether you need assistance with asset distribution or simply estate tax planning, our experienced legal team has you covered.
Helping Make Sense of the Estate Tax Process
According to the IRS, estate tax is a “tax on your right to transfer property at your death. It consists of an accounting of everything you own or have certain interests in at the date of death.”
A major part of calculating estate tax is determining fair market value for the deceased’s (or soon-to-be-deceased’s) total possessions.
Assets may include:
- Cash and securities
- Real estate
- Business interests
Once you determine the fair market value of these assets, you can calculate your gross estate. At Beck Law Firm, we can help you make deductions to lower your tax liability and submit a suitable return to the IRS.
Providing Clarity for Our Clients
Unfortunately, the nature of taxes is worrisome to all kinds of people, irrespective of their tax bracket and social status. Many people dread paying taxes and worry about the consequences of submitting an incorrect tax return.
When you choose to work with us, you’ll be able to put your mind at ease. Not only will we file your taxes, but we’ll also keep you informed throughout the entire process.
This way, you can receive peace of mind after our work is done and avoid future legal repercussions.
We Deliver Timely and Personalized Legal Aid
If you’re hiring an estate tax legal team, you’re looking for someone you can trust. Usually, your goal is to minimize your estate tax and gift tax liabilities so you can pass on a sizable inheritance to your loved ones.
Every estate is different and requires a personalized tax strategy. Our legal team will work closely with you to determine the most effective strategy for decreasing your tax bill.
We believe that tax strategy isn’t just about legal issues, but also about people. We represent our clients with compassion and precision, ensuring they are best-suited to exit probate with a fair market value estate.
We’re Ready for Anything
Just like any legal area, estate tax is rife with potential problems. There is the matter of intestacy when the deceased’s will isn’t present.
Also, it’s possible for creditors to go after the deceased’s assets and minimize the value of the state. Handling these matters on your own can cause a great deal of stress, even for your family.
The team at Beck Law Firm is ready for anything your estate throws at us. We’ll manage your estate carefully to gauge its total value and submit accurate reports to the IRS.
Schedule Your Consultation
Estate tax involves determining the value of an estate, finding deductions, and filling a return with the IRS. Afterward, the beneficiaries can reap the benefits of the remainder of the estate.
As such, the attorney you hire will make a lasting difference in the value of your estate. Hiring a proven estate tax attorney in Lubbock, Texas is essential in maximizing the value of your estate.