Estates and Trusts

Estate, Trust and Gift Tax Filings

We prepare these returns, and the accounting that supports them, in all 50 states.


Estate Tax Planning

Estate planning should be a cornerstone activity for anyone with significant assets.  There are many estate planning tools that should be considered, including cash and non-cash gifts, an array of trusts and family limited partnerships.  Generally, a combination of some of them produces the optimal tax savings.  Call for an evaluation of whether you will benefit from estate planning in today's environment.



To the extent that you gift property to others, including your heirs, during your lifetime, it will reduce your estate tax burden.  You can gift cash or property, but the rules can get complex and gift tax filings are required in many cases.



A trust is a legal entity that owns the property that you transfer to it.  They are powerful tools for limited estate taxes, and are often used when an outright gift to a child or loved one is inappropriate or not possible.


Family Limited Partnerships

These are time-proven tools to reduce estate taxes.  Typically, parents with significant assets will place some into a partnership and gift interest in that partnership to their children or heirs.  Since a minority interest in a partnership is worth something less than outright ownership of the assets, the discount taken on the estate tax return saves you taxes.


Avoiding Probate

Many people advocate structuring your assets in a way that avoids probate, but from a tax perspective this may not be the most effective planning.  We'll show you how to limit probate while maximizing your available tax deductions.


Post Mortem Planning

It is possible through the use of "disclaimers" to save significant taxes even if a decedent did not properly structure his will and assets prior to death.  This technique can be employed in the period between the dates of death and the due date of the estate tax returns.



The effectiveness of one's personal estate plan is dependent upon how well tax-saving opportunities are integrated with achieving a client's objectives.  That's why it is critical that your professional advisor proactively monitor changes in the tax law against your personal circumstances.


Over many years, Allegra and Company has provided expert estate and trust planning for our clients.  That means we have built an enviable reputation in this field.  In addition to timely advice, we'll be able to prepare all related tax filings to support you and your family.


Typical of the types of services we offer in the estate and trust area are:

  • Gross estate determination
  • Estate freezes
  • Family limited partnerships
  • Trust planning and implementation
  • "Defective" trusts
  • Post mortem tax planning
  • Representation before taxing authorities


To learn more about Allegra and Company and the support we can lend, please contact David J. Allegra, CPA, CFP® at (908) 665-1696, email address  or Denise Careccia at

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