Trusts, Estates and Business Planning
There are a variety of legal strategies available to protect and pass on wealth. Wills, living trusts, family limited partnerships, private foundations and other vehicles all have their place in the appropriate situations. We can present and consult on the options to provide the option or options to help accomplish our clients objectives.
Taxes, lawsuits, business transfers, charitable giving, death and other life events can all require asset protection for individuals, families and businesses.
Our corporate and business practice covers the entire business life cycle from formation, counseling, growth, succession planning and exit strategies. We provide legal services to corporations, partnerships, limited liability companies and other types of business entities.
We assist in preparing various agreements including employment contracts, non-compete, non-solicitation and non-disclosure agreements. We also work with you to prevent or mitigate future liability by establishing policies, procedures, and regulatory compliance programs.
Asset protection may be an important component of an overall estate plan. Planning to protect assets is no longer limited to high risk professionals, but should be considered by anyone who may have exposure to unexpected liabilities.
Business Succession & Estate Planning
At the earliest stages, we work with managers, shareholders and owners to anticipate the time when there will be new management and/or ownership.
In today’s world of complicated transactions with aggressive timetables, client demands for efficiency, and results viewed with the benefit of hindsight, we handle the entire transaction from due diligence to closing in manner that protects the client and provides the best possible results.
Charitable Planning & Trusts
Charitable endeavors can provide tax advantages, assist in asset transfer and provide personal satisfaction.
Long-term Care Planning
Long-term care planning is designed to provide clients with the ability to pay for long-term care services without exhausting assets or savings, or relying on family. This often omitted aspect of financial planning is a critical component.
Trusts can be used for a variety of purposes depending on individual needs. Trusts may be created by contract (written or orally) or by operation of law. Most intentional trusts are established for a particular purpose. One example is an Irrevocable Life Insurance Trust designed to hold life insurance and used for estate tax avoidance, leveraging tax exemptions, and liquidity and creditor protection.
A will may be a simple estate planning device, but it may also be the most important. Anyone who wants to control where their property goes upon their death must
have a will. Otherwise, state intestacy laws will determine the distribution of property.