Integrated Estate Planning
Integrated Estate Planning
Many attorneys feel Estate Planning is primarily post-mortem planning. We believe it very much involves current financial planning combined with contingency planning for the time when a family member becomes incapacitated or passes on. It involves positioning assets for easy transfer, contiguous management and protection in addition to wills, trusts, and most importantly tax planning for the estate.
Our attorneys work with clients and their accountants or financial advisors to maximize the wealth that will ultimately be transferred to their beneficiaries by protecting assets from potential claims of non-beneficiaries, and minimizing transfer taxes. Accomplishing this goal usually requires the use of sophisticated trust instruments. Our professionals also help clients select appropriate executors and trustees, as well as guardians for minors.
The firm provides a wide range of estate planning services, including wills, trusts (Insurance Trusts, Dynasty Trusts, Foreign Asset Protection Trusts, Spendthrift Trusts, etc.), family owned companies, and family limited partnerships. We start by reviewing a client's existing estate plan, whether it be a simple will or a complex asset protection structure. Our tax professionals will work with the client and his/her accountants to identify tax minimization techniques and where appropriate incorporate into a new comprehensive plan. Where there is harmonization required between family controlled business entities, and family trusts, we provide the necessary coordination.
Integrated Estate Planning combines current financial planning, protection of assets and minimization of taxes when assets pass on to family members or other beneficiaries. It looks beyond strictly traditional wills, but rather at the management of assets today, and how the management will change with the occurrence of certain events. It takes into consideration the core competencies and interests of younger family members, and the qualifications of trustees and guardians. It looks at contingencies and back-up plans and provides flexibility for the future in the event of unforeseen events.
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