Wealth Preservation and Tax Planning

You’ve worked hard to build your wealth, and we can build a sound and prudent wealth preservation plan to protect your estate and legacy from taxes, creditors, and unanticipated lawsuits. With protective planning, you can help to secure your and your family’s financial futures, so that you can have peace of mind. This includes shielding your estate from unnecessary estate and gift taxes, legal action, or the potential diminishment of your beneficiaries’ inheritances (for example, in the event of divorce). Some of the considerations include:

Minimizing estate taxes

• We have extensive experience in working closely with and coordinating with our clients’ CPAs and other financial advisors to help minimize estate taxes
• The use of various estate tax planning strategies and techniques that we implement for our clients include:
  • Spousal lifetime access trusts (“SLATs”)
  • Irrevocable gifting trusts for children and grandchildren
  • Qualified personal residence trusts (“QPRTs”)
  • Irrevocable life insurance trusts (“ILITs”)
  • Grantor retained annuity trusts (“GRATs”)
  • Family limited partnerships (“FLPs”) and limited liability companies (“LLCs”)
  • Charitable lead trusts, including testamentary CLATs (“T-CLATs”)

Asset protection planning

• Closely-held business owners, physicians and dentists, real estate developers and owners benefit from wealth preservation planning to protect their assets from potential lawsuits and judgments
• We assist clients with asset protection planning through the use of targeted trusts and other legal entities
• The creation of contingent trusts in estate plans where there are concerns that children may be adversely affected by a future divorce
• The creation of contingent trusts in estate plans where there are concerns that children are spendthrifts or have creditor, substance abuse, or addiction issues
• Prenuptial agreements for clients or their children