Estate Planning
An estate plan is a master plan to protect your property during your life and distribute it according to your wishes after your death. A comprehensive estate plan sets your personalized goals for protecting your assets and preserving your wealth:
Asset Protection: Where do you want your assets to go eventually? Who should handle the management of your estate or business? By looking ahead, we’ll help uncover special issues that may include providing for your family’s financial security and protecting your assets against future threats. A thorough plan to protect your assets should evaluate:
- Business ownership issues
- Liability insurance
- Trusts
Charitable Giving: Most people donate to charities because they believe in the charity’s mission, and contributing gives them a sense of personal satisfaction. At the same time, charitable giving can help minimize your income and estate taxes. To meet your personal goals and tax-incentive needs, we may discuss:
- Donor-advised funds
- Income & estate deductions
- Charitable trusts
- Private foundations
Transfer of Wealth: It’s wise to plan early for the future distribution of your assets, including your estate or business. We’ll discuss strategies to enable the smooth transfer of your wealth, according to your wishes, as well as the management of your assets during your disability or incapacity. Important topics include:
- Business succession
- Children of a previous marriage
- Equalizing inheritances
- Estate probate management
- Lifetime giving
Transfer Tax Minimization: Tax strategies can have a surprisingly large impact on long-term wealth preservation. We’ll work to minimize your potential taxes without interfering with your other financial goals. Fortunately, comprehensive planning that addresses the following topics can help minimize the depletion of your wealth:
- Income taxation
- Gift and estate taxation
- Liquidity planning
- Wealth replacement
- Estate freezes
- Goods and services taxation
- Discounted gifting