Introduction

Proper estate planning is advisable for everyone, regardless of the size of your estate, the size of your family or the nature of your assets.

The goal of estate planning is to provide that upon your death or incompetence, your family has access to your financial assets in the most timely and cost effective manner and that your estate is distributed according to your wishes in a manner that is efficient for income, estate and gift tax savings.

Even though you may not have a taxable estate, we still need to plan for your family having access to your assets in the most efficient manner possible and for distributing your estate according to your wishes.

Wealth Transfer Planning

The essentials of an estate plan include a pour-over will, a revocable trust, a durable power of attorney, and an advance medical healthcare directive.

Additionally, with complex situations, we can assist our clients with comprehensive estate, gift, and generation-skipping transfer (GST) tax planning by using advanced planning solutions such as Irrevocable Life Insurance Trusts (ILITs), Dynasty Trusts, Grantor Retained Annuity Trusts (GRATs), Qualified Personal Residence Trusts (QPRTs), and Sales to Intentionally Defective Grantor Trusts (IDGTs). Family Limited Partnerships (FLPs) and Family Limited Liability Companies (LLCs) can be utilized to transfer wealth to a succeeding generation, as well as to preserve the family business for the next generation.

Probate, Trust and Estate Administration

We can also provide Probate, Trust and Estate Administration services when an individual dies. Typically, we would advise on implementing the terms of the estate plan as specified in the will and revocable trust, assist in filing any necessary income and/or estate tax returns and provide representation to clients in probate court proceedings, if necessary.