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Gerard W. O'Brien and Associates

2650 E. Imperial Highway, Brea CA 92821

714-985-9025

jerry@gerardwobrien.com

NIL SINE MAGNO LABORE

Nothing Without Great Labor

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The federal government taxes transfers of wealth in three ways: through the estate tax, the gift tax and the generation-skipping transfer tax. Together these taxes make up the federal transfer tax system. The modern estate tax was enacted in 1916, just three years after the federal income tax. Congress supplemented it with the gift tax in 1924 and again in 1932, and in 1976 enacted a generation-skipping transfer tax to curb tax avoidance through the use of trusts. Since 1976, the three-legged framework of the modern transfer tax system has remained essentially unchanged. - by

The Tax Foundation
2001 L Street, N.W.
Suite 1050
Washington, D.C. 20036
202.464.6200

 

 

TRANSFER TAX PLANNING

Effective tax planning will not only lower income taxes while you’re alive by implementing optimal tax deferral and other strategies, but it will also free up cash for investment, business, or personal purposes. Effective tax planning should also address potential estate tax issues if appropriate. Gerard W. O’Brien clients significant sums of money by creating and implementing strategies designed to reduce the impact of taxes on property you own.

Where appropriate, Gerard W. O’Brien, will help you “freeze and fractionalize” your estate if you expect your material wealth to continue appreciating. We can freeze the value of your estate, so as your property appreciates, no additional taxes will be owed on that appreciation. There are numerous tools in the toolbox that we can implement to achieve your goals.

We can also fractionalize the value of your estate by splitting the ownership interests in the property. The goal is to reduce estate taxes by allowing us to discount the value of the property for tax purposes.

In addition, much of what we do is income tax planning with estate tax ramifications. O’Brien & Associates works with clients to create and implement strategies designed to reduce the impact of capital gains taxes on the sale of their property.

CIRCULAR 230 [you must read this]

Legal Disclaimer

Gerard W. O'Brien and Associates has offices in Brea California, which is in northern Orange County, surrounded by Yorba Linda, Placentia, Fullerton, LaHabra and Diamond Bar. Diamond Bar is in Los Angeles County and the other cities are all in Orange County. We are about 45 minutes from down town Los Angeles.

We chose Brea to be the location of our estate planning offices for several reasons,the most apparent being it is a beautiful, safe and friendly city. There is plenty of parking, a very convenient freeway, tremendous shopping and dining opportunities and it is close to my home.

The best way to avoid unpleasant tax consequences relating to the transfer of property to your family, friends, and charitable causes is to have a working relationship with an attorney, who can guide you through the maze of laws that is the Internal Revenue Code. In Brea, Fullerton, Yorba Linda, Placentia, La Habra, Buena Park and Diamond Bar you can choose to work with Jerry O'Brien, Principal in Gerard WQ. O'Brien and Associates, A client Centered Estate Planning Law Practice.

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