How can I protect my assets from taxes?

In Georgia, wills and probate law can be used to help protect your assets from taxes. One way to do this is by setting up a trust. A trust can be used to transfer assets to a trustee, who will then manage and distribute those assets for the benefit of the beneficiary, which can be a family member, charity, or other designated recipient. The trust will be managed by a designated trustee, who will be responsible for collecting any taxes due on the estate. Additionally, a trust can be used to shelter assets from estate taxes. Trusts can also help reduce the amount of taxes due on an estate by allowing for the transfer of assets to low-taxed beneficiaries. Another way to protect assets from taxes is by giving them away through gift-giving. Georgia has a generous gift-giving exemption that allows for up to $15,000 to be gifted each year without incurring a gift tax. This exemption can be used to transfer assets to family members or other designated beneficiaries. Additionally, there are certain types of life insurance policies and annuities that can help protect assets from taxes. It is important to note that the laws and regulations surrounding taxes and estate planning can be complex, so it is important to work with an experienced attorney to ensure that you are taking the correct steps to protect your assets from taxes.

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How can I protect my assets from taxes?

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