We counsel clients involved in traditional trust and estate planning to protect their property during life and develop plans for smooth and cost-effective distribution of wealth after death.
At a time when the tax and public benefits laws are in a constant state of flux, flexibility is the cornerstone of competent estate planning. We provide more than just traditional document preparation. We begin with a comprehensive review of financial and family circumstances, an honest discussion of the client’s planning objectives, and a thorough explanation of the tax laws and long-term care programs that will affect a family’s financial security.
In this area of practice we:
Prepare health care proxies, living wills and durable powers of attorney;
Prepare wills and revocable living trusts;
Prepare federal and state estate and gift tax projections;
Review beneficiary designations on life insurance policies and retirement accounts to ensure that these assets are integrated into the overall estate plan and to maximize income tax deferral;
Prepare irrevocable life insurance trusts (ILITs), qualified personal residence trusts (QPRTs), charitable remainder trusts (CRTs) and other trust arrangements where appropriate.
Establish limited liability companies (LLC) to hold business and rental properties in order to centralize family management and create desirable and tax-efficient mechanism for gifting.