Income Tax Planning

Schneider Bell attorneys believe in maximizing financial efficiency through strategic income tax planning.

We know that income tax planning is integral to building, preserving and transferring wealth. In our Trusts and Estates practice, we combine decades of experience with sophisticated tax strategies to ensure that your assets are managed and passed on in the most tax-efficient way possible. Our team of renowned Trusts and Estates lawyers works to align your income tax strategy with your overall estate plan, helping you minimize tax liabilities while achieving your family’s financial and legacy goals.

Focus Areas:

Asset Protection Planning

Charitable Planning

Estate, Gift and GST Tax Planning

Income Tax Planning

Multi-Generational Planning

Prenuptial and Postnuptial Agreements

Retirement Distribution Planning

Why is Income Tax Planning Important for Estate Planning?

Income tax planning is essential for individuals and families who wish to preserve wealth, achieve philanthropic goals and create sustainable generational assets without unnecessary tax burdens. Our approach focuses on reducing income taxes associated with wealth transfer, charitable giving and trust management, helping clients establish tax-efficient structures that support with their estate planning goals. Whether preparing to make lifetime gifts, setting up a family trust or structuring charitable contributions, our attorneys provide strategic advice on any income tax implications, protecting your future, enhancing your charitable contributions and fulfilling your goals for future generations.

Our Collaborative Approach

Income tax planning within the Trusts and Estates practice at Schneider Bell is built on collaboration. Our Trusts and Estates team creates coordinated, holistic solutions that serve your unique needs. This collaborative approach offers a range of benefits, such as:

  • Family Wealth Preservation: Structuring trusts and gifts in tax-efficient ways to increase the amount of wealth passed on to heirs.
  • Charitable Giving: Enhancing the tax efficiency of charitable contributions and ensuring they support your estate plan.
  • Trust Income Tax Management: Managing the state and federal income tax implications of income generated by trusts and ensuring distributions align with tax-advantaged strategies.

Key Areas of Income Tax Planning for Trusts and Estates

IOur Trusts and Estates team’s income tax planning services include:

  • Trust Income Tax Strategies: Managing and minimizing the state and federal tax burden on income generated by trusts for beneficiaries.
  • Grantor Trust Status: Advising on strategies regarding the payment of income tax owed by trusts to leverage the impact of trust property held for the benefit of family members.
  • Charitable Planning and Contributions: Structuring charitable donations and creating charitable trusts to take advantage of all available tax benefits while achieving philanthropic goals.
  • Family Business Tax Planning: Advising on tax-efficient structures for family business succession to ensure smooth intergenerational transfers.

We are dedicated to preserving your estate with the highest standards of care and integrity. With a comprehensive, forward-thinking approach to income tax planning, we ensure that your Trusts and Estates plan is not only effective today but also adaptable to future changes. Let us help you secure your family’s future with strategic tax solutions tailored to your unique goals.

We want to share our collaborative approach with you.

Contact our legal team today for more information on how to maximize your tax benefits to secure your future.

Contact Us Today