When it comes to estate planning, Connecticut residents enjoy many legal and tax benefits. Being proactive and armed with the appropriate knowledge to make informed decisions is essential, which is why clients rely on the expertise of the accountants at Bergamo Tax & Financial Solutions in Watertown, CT. This tax planning and CPA firm has a team of professionals ready to walk you through the necessary steps to ensure your wishes are carried out as planned.

As you consider how you want your estate managed, keep in mind the following Connecticut regulations that could help benefit you and your beneficiaries:

• Probate Relief: If your entire property has a value of $40,000 or less, you can skip the sometimes lengthy and complicated process of probate. Under state law, you have the option to file a small estate affidavit with the probate court to begin the distribution process.
• Advance Directive: As a Connecticut resident, you have the right to make end-of-life decisions, as well as health care choices, without interference. Through an advance directive, your preferred plans must be enforced regarding “do not resuscitate” wishes and hospitalization care, as well as any other decisions affecting your physical and mental well-being.
• Reduced Tax Liability: Business owners who arrange a limited partnership structure for their companies may be able to reduce their tax liability under an IRS mandate called an estate freeze.  Establishing a plan for how your business will operate after your death can also help cut any property taxes owed.

There is a myriad of scenarios involved in estate planning. As such, the process can be overwhelming, confusing and even costly if certain steps aren’t followed. As the premier estate planning firm in Watertown, Bergamo Tax & Financial Solutions has a proven procedure designed to help clients define and carry out their desired goals. You’ll receive customized guidance to minimize estate taxes and establish asset transfers – all with ample flexibility to make any requested amendments to your estate plan along the way.

You’ve worked hard to accumulate your possessions and property. Give yourself peace of mind knowing your estate planning wishes will be followed. To get started, call Bergamo Tax & Financial Solutions today at (860) 274-1655 to schedule a consultation. Visit the website and Facebook page for additional information on more services to help you and your business.