“We try to focus on fewer practice areas, so we can provide more.”
Basic Estate Planning
At the beginning of any project, one of the first questions we will ask a client is if we can review the client’s testamentary estate plan to ensure that the proper foundation is in place. By testamentary plan, we are referring to Last Wills and Testaments, powers of attorney documents for medical and financial situations, and living wills along with other documents ancillary to the Will. We consider the basic testamentary estate plan to be foundational, and for many clients, this is the extent of their need.
We work with our clients to help identify tax issues related to business or personal transactions. Although we provide counsel related to income tax planning and structures, our primary focus is transfer taxes, such as estate and gift taxes. In every project, we consider the tax effects and how to structure the transaction in the most tax efficient and advantageous manner.
Wealth Transfer Planning
When a client comes to us with the goal of decreasing estate or gift taxes or transferring assets to a lower generation, we provide strategies through the use of different types of entities and trusts to help a client transfer the assets in the most tax advantageous manner. We also discuss and plan for the protections ancillary to the structures such as: creditor protection, protection from division on divorce, and in some instances, protection from the very person the assets are being transferred to, through the use of different control provisions.
Asset Protection Planning
Depending on a particular client’s profession, personal situation, or asset makeup, there may be a need to protect the client’s assets from potential creditors. In these situations, we can provide strategies and structures to help protect the assets from creditors. In some instances, the client must give up control, but there are some structures that allow the client to maintain control while providing the same protections.
General Business and Business Succession Planning
If a client is interested in starting a business, we can provide counsel regarding the appropriate entity selection to obtain the best advantages and efficiencies for the particular business. Additionally, if a client is anticipating a liquidity event related to his or her business or wants to transition a portion of the business to another related or unrelated party, we can provide counsel on different strategies to achieve these goals. This planning also includes the implementation of different methods to help retain key employees, such methods including both equity and non-equity type strategies.
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, most estates need to go through the probate process with the court. We will be there to help take care of the estate administration and relieve the stress of managing the financial and administrative affairs during this difficult time.
If a client has an interest in philanthropy, we can provide counsel regarding the best or most efficient ways to accomplish the client's philanthropic goals, through different methods of giving that acheive the most efficient income, estate and gift tax goals for the client while promoting the charitable purpose of the gift.