Basic Estate Planning
The legal documents that are fundamental to most estate plans include a Last Will and Testament, General Durable Power of Attorney, Medical Power of Attorney, Living Will or Advance Directive. For many clients, the fundamental documents are the extent of their need. In every case, however, the fundamental documents must match each clients’ present planning objectives. At the beginning of any estate planning project, we review a client’s existing needs and documents to determine whether the proper foundation is in place and any updates are necessary.
Tax Planning
We work with our clients and their tax advisors to identify tax issues related to their business or personal transactions. Tax issues arise in the areas of income tax and transfer tax, such as gift and estate tax. Although we may provide counsel in the area of income tax, our primary focus is transfer taxes. We understand the importance of considering the impact of taxes in structuring a business or personal transaction.
Wealth Transfer Planning
When a client has a primary goal to reduce estate or gift taxes in transferring assets to intended heirs, we are able to provide advice and legal services in the use of trusts or business entities. We can also provide advice and counsel concerning ancillary matters to such structures including timing, control, creditor and predator protection.
Asset Protection Planning
Everyone needs protection. Depending on your profession, personal situation, or asset makeup, there may be a need to protect your assets from potential creditors. Asset protection is a form of risk management. Understanding risk and risk exposure is important for each individual and every business owner. We can provide advice to our clients in the areas of risk management and risk exposure.
General Business and Business Succession Planning
If you are starting a new business or purchasing an existing business, we can provide advice regarding entity alternatives to assist you in choosing an entity that best matches your needs. If you are selling a business or desire to transition all or a portion of your business to another related or unrelated party, we can provide advice concerning alternative strategies to consider in furtherance of your goals.
Probate
If you have lost a loved one, you have many issues to deal with during such an emotional time. Whether your loved one had a Will or not, a large or small estate, many estates need to go through the process of probate. We can provide legal advice and counsel to guide you through the estate administration process during this difficult time.
Charitable Giving
Interested in philanthropy? We are able to provide advice and legal services to assist you in accomplishing your philanthropic goals. In most cases such advice and legal services will consider income, estate and gift tax considerations of your gifting strategy.