ESTATE PLANNING & ASSET PROTECTION require the combination of different areas of law: federal and state taxes, property law, estate planning, business entities, Medicaid, Social Security, and retirement benefits to mention a few. We represent individuals, their families, and privately-held businesses, and work with financial planners, bankers, accountants and insurance representatives to provide the appropriate plan to achieve our client’s wishes. Carefully designed health care directives, powers of attorney, Wills, revocable and irrevocable trusts and buy-sell agreements provide the route to your planning success.

Whether we review retirement benefits to determine the most favorable tax treatment based upon your desired distributions; examine income, gift and estate tax issues, including capital gains treatment of assets; or establish trusts, including Special Needs Trusts, to protect family members; or provide ideas for the distribution of assets involving blended families; our documents are individually formulated to achieve your goals.

Examples

  • We created a limited liability company to hold parcels of real estate which parents wanted to retain in the family, limiting when property could be sold, who can become a member of the LLC, and the rights of a spouse in divorce.
  • We designed the proper beneficiary designation for retirement benefits (IRA) and trust provisions to extend the distribution of the assets over the longest possible period of time.
  • We prepared a revocable living trust for the couple in a blended family so that each of them would be cared for during their lifetimes and the remaining assets of each spouse would be distributed to that spouse’s children.
  • We prepared a Will with a Special Needs Trust to protect a disabled grandchild so that the grandchild could continue to receive Social Security benefits.
  • We created a private foundation for a client who wanted the bulk of his taxable estate to be given to various charities; and established Charitable Remainder Trusts to provide income to a beneficiary and then distribute the balance to the client’s favorite charity.
  • We created health care directives for a client wanting a specific religious burial in Japan; and another for a client wanting only certain specific medical procedures used.
  • We engage in more sophisticated tax and estate planning when necessary to achieve the client’s goals, but always follow the guide to “Keep It Simple!”