Wealth Transfer Planning

OUR ATTORNEYS COUNSEL INDIVIDUALS AND BUSINESSES WITH REGARDS TO THE MOST STATE-OF-THE-ART STRATEGIES FOR PRESERVING AND PROTECTING FAMILY WEALTH.

In doing so, we work closely together with our Estate Planning, Probate and Tax professionals in engineering and implementing creative strategies in order to transfer assets from one generation to the next while minimizing the tax cost of transferring wealth within the client’s family. Due to the complexity of today’s tax and property laws, it is important for an individual, a business or his, her, or its advisors to develop a comprehensive plan aimed at preserving wealth and minimizing the various tax and administrative burdens which may otherwise occur upon death.

The primary services provided by the Wealth Transfer Planning Sub-Practice Group can be divided into two basic components:

Core Wealth Transfer Planning & Strategies

• Counsel individuals regarding family wealth transfer strategies
• Develop and implement long-term plans for protecting client’s financial security during life while minimizing taxes imposed at death, avoiding unnecessary complexities and ensuring that assets are distributed according to the client’s intentions
• Prepare Wills and other related documents to maximize the benefits of available death tax exemptions
  • Probate and post-mortem planning
• Prepare personalized wealth transfer plans which incorporate one or more tax minimization methods
  • Advise clients on charitable gifting techniques
  • Advise clients on disability and health care planning
• Counsel clients on advantages and disadvantages of re-titling property between spouses, creating lifetime trusts, family limited partnerships, charitable trusts and foundations, and other available vehicles which may not only reduce taxes, but may also shield assets from claims of creditors or ex-spouses, such as investment services trusts
  • Create and implement tax-efficient plans for business succession through the use of shareholder agreements or the creation of irrevocable trusts or partnerships

Insurance and Wealth Replacement Planning

• Counsel clients regarding trusts and other ownership strategies
• Conduct policy review and comparison
• Counsel clients on split-dollar insurance and other funding techniques
• Plan and implement business-related insurance strategies

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