Taxes can significantly erode your wealth—but with the right planning, they don't have to. At Cooper | Coons, we combine legal expertise with accounting knowledge to create tax-efficient strategies that preserve more of your assets for you and your family.
What is Tax Planning?
Tax planning is the strategic arrangement of your financial affairs to minimize tax liability—legally. This includes estate taxes, gift taxes, generation-skipping transfer taxes, and income taxes. Effective tax planning requires understanding both the legal structures available and the tax implications of each decision.
Our Unique Advantage
Jeremy Cooper is both a licensed attorney and a Certified Public Accountant (CPA) with a Master's Degree in Taxation. This rare combination allows us to see opportunities that other law firms miss and create integrated strategies that optimize both legal protection and tax efficiency.
Legacy Trusts
A legacy trust allows you to transfer assets to future generations while minimizing estate and gift taxes. Properly structured, these trusts can protect assets for multiple generations while taking advantage of your lifetime gift tax exemption.
ABC Trusts
Also known as marital trusts, ABC trusts help married couples maximize their combined estate tax exemptions. This structure can effectively double the amount you can pass to heirs tax-free.
Family Limited Partnerships (FLP) & Family LLCs (FLLC)
These entities allow you to transfer business interests or investments to family members at a discounted value for gift tax purposes. They also provide asset protection and centralized management of family assets.
Spousal Access Trusts (SPAT)
A SPAT allows you to remove assets from your taxable estate while still providing indirect access to those assets through your spouse. This is particularly useful for married couples who want to reduce estate taxes but aren't ready to completely give up access to their wealth.
Irrevocable Life Insurance Trusts (ILIT)
Life insurance proceeds are generally income tax-free, but they're included in your taxable estate. An ILIT removes the insurance from your estate, potentially saving your heirs hundreds of thousands in estate taxes.
Grantor Retained Annuity Trusts (GRAT)
A GRAT allows you to transfer appreciating assets to your heirs with minimal gift tax consequences. You receive annuity payments for a set term, and whatever remains passes to your beneficiaries tax-free.
Qualified Personal Residence Trusts (QPRT)
A QPRT lets you transfer your home to your children at a reduced gift tax value while continuing to live in it for a specified period. This is an excellent way to pass real estate to the next generation tax-efficiently.
Charitable Remainder Trusts (CRT)
If you have charitable intentions, a CRT can provide you with income during your lifetime, a charitable deduction now, and a legacy gift to your favorite charity—all while reducing your taxable estate.
Nevada Intentionally Defective Non-Grantor Trust (NING)
For high-income individuals in high-tax states, a NING trust can help reduce state income taxes by shifting income to Nevada, which has no state income tax. This complex strategy requires careful implementation but can result in significant tax savings.
Why Choose Cooper | Coons?
Tax law is complex and constantly changing. Our unique combination of legal and accounting expertise means we understand both the structures and the numbers. We work closely with your existing financial advisors and CPAs to implement strategies that work within your overall financial plan.
