Estate Planning | Making a Difference One Family at a Time

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A Hartford estate planning attorney provides you with assistance in making smart choices about how to transfer your wealth to your children. There are a variety of different techniques that you can consider for the transfer of money and property. The right approach will depend upon a wide variety of factors, including the value of your wealth, the age of your children, and your goals for what you want your legacy to be.

Nirenstein, Horowitz & Associates will offer comprehensive advice on the process of making a plan to transfer any and all wealth that you own onto the next generation. We will listen carefully to details about your goals and about your family situation and will help you to make the choices that make sense for you and your family. To find out more about the assistance that we can offer to you, give us a call today.

What is the Best Way to Pass Your Wealth Onto Your Kids?

Different approaches for passing wealth onto your children come with different pros and cons. Some of your options for passing wealth into your kids include:

  • Gifts during your lifetime. You can make inter vivos gifts if you wish to transfer your wealth to your kids. As long as you work with an experienced attorney to follow the rules and avoid gift tax, you will not have to worry about these transfers during your lifetime triggering a tax obligation. The downside of this approach is that you will give up your assets while you are still alive, which you may not wish to do.
  • A last will and testament: You can use a will and specify how you want your assets to be transferred to your children. This is a simple approach that allows you to keep your wealth during your life but specify who inherits it after you pass away. There are also downsides to using a last will and testament as a method of transferring wealth. Assets transferred in a last will and testament will be subject to free seminar. You can also give us a call at 860-548-1000 or contact us online to get personalized one-on-one advice about the tools that are right for you.SaveSave
Barry D. Horowitz, Estate Planning Attorney
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