Georgetown, Delaware, Estate Planning and Tax Lawyer

There is a common misconception that the 2001 Tax Act abolished estate taxes. Rather, the act raised the threshold for estate tax exemption. If you expect to have a large estate when you die, you should consult a tax and estate planning attorney now to guide you through techniques to minimize or avoid death taxes.

At the law office of Harold W. T. Purnell, II, P.A., I have been practicing law for over 25 years. As a tax lawyer with a Master's degree in taxation, I am very skilled as a tax consultant and in advising individuals on estate tax planning and tax minimization strategies. If you have questions about estate taxes or gift taxes, including charitable gift trusts, contact a Sussex County tax planning attorney for a free initial consultation.

On January 1, 2006, the exemption for estate taxes was raised to $2,000,000. This means that if your entire estate is below the two million dollar threshold, your estate will not be required to pay estate taxes. However, unless a new act is put into place, this amount will revert back to $1,000,000 in the year 2011.

In order to minimize estate taxes to the fullest extent possible, I advise clients of the rules and how to take advantage of gift and estate tax laws. Under United States tax laws, each individual is able to pass gifts of up to $12,000 per year to another individual, tax free. This means that a married couple is able to pass $24,000 per yaer to another individual in a year tax free. Any gift over this amount is subject to a gift tax.

The following summarizes the estate tax and gift tax rate each year.

I understand that my clients worked to earn their wealth and would rather see it pass to family members than to the government in a death tax. As an experienced Delaware estate tax attorney, I work with clients to minimize their estate taxes through early utilization of gift tax amounts and leveraging credits. For effective legal assistance minimizing your estate, contact Delaware estate planning lawyer, Harold W. T. Purnell, II.

Harold W. T. Purnell, II, P.A.
8 North Race Street
P.O. Box 977
Georgetown, DE 19947
Phone: (302) 858-5151
Toll Free: (866) 296-HWTP (866-296-4987)
Fax: (302) 858-5161
Email

The law office of Harold W. T. Purnell, II, P.A., located in Georgetown, Delaware, represents individuals throughout southern Delaware, including Sussex County and Kent County and the communities of Georgetown, Dover, Rehoboth Beach, Bethany Beach, Fenwick Island, Milford, Laurel, and Seaford, DE.