THIS IS AN ADVERTISEMENT
Estate planning at its simplest involves will and trust drafting for individuals of all ages. Some estate plans are simple and involve little more than basic wills, powers of attorney and health care surrogates. Many client’s estates need the addition of a trust to provide for inheritance for younger children, or adult children who have special needs, such as, health, substance abuse or other needs. Clients with larger estates may need to minimize tax burdens and will find trusts helpful in reducing or often times eliminating an estate tax liability, as well as, providing asset protection benefits for the trust beneficiaries. Often clients are interested in charitable planning involving various types of charitable trusts that may provide both income and estate tax benefits in addition to benefitting the client’s favorite charities. Sometimes charitable planning is combined with establishing a family foundation when the individual does not have a specific charity of choice. Another common estate planning option involves the use of family limited partnerships or limited liability companies to both manage a client’s estate and to reduce estate taxes.
For a more complete understanding of your estate planning needs, please contact our office for an appointment.