Whether you need a simple estate plan for distribution of your assets to beneficiaries, or more complex planning to preserve wealth and minimize estate taxes, we'll ensure your needs are well met – with advice that is right on the money.
For many years we have advised clients and their families on wealth preservation strategies designed to achieve their particular life goals. We also assist with business succession strategies to preserve value of family businesses and pass the business or its value on to future generations. We also have the expertise to know when and how to capitalize on estate and income tax laws to reduce tax costs.
Collaborating as a team, we work closely with our clients, their accountants, financial planners and other advisors. As they have found, our depth and breadth of experience adds up and can pay dividends for generations.
Our areas of expertise include:
Business succession planning
Charitable remainder trusts
Claims and litigation
Establishing charitable organizations
Estate analysis and planning
Family limited liability companies
Financial and business planning
Insurance funded wealth replacement trusts
Planning for charitable giving
Tax minimization strategies
Wealth preservation and planning
Wills and probate
Cases associated with this practice area
Avoiding Probate and Preparing for Incapacity
We assisted a client with the formation of a trust to avoid probate and help her plan for any future incapacity. In the event she becomes incapacitated, the successor trustee she selected will manage her finances and distribute funds for her benefit so she can maintain her standard of living. The trust will also avoid the probate of her assets upon her death. The trustee will distribute our client's assets to her beneficiaries without having to go through the probate process.
Caring for Young Children
We often work with young families. In one case, we helped a husband and wife who have three young children and no living relatives. Naturally, they were concerned about who would take care of their children if something unfortunate were to happen to them.
We helped our clients understand the issues involved and worked with them to draft wills allowing them to nominate individuals to serve as guardians for their children. The wills also contain trusts for the children to assist the guardian in supporting them and providing for their education.
Estate Tax Savings
A husband and wife requested our assistance in structuring their estate plan. Based on reports they had heard in the news, they mistakenly assumed their estates would not be subject to any estate taxes. After reviewing their assets, we discovered that without any tax planning their estate would owe more than $430,000 of estate taxes on the surviving spouse's death.
We worked with the clients to establish a joint revocable trust with tax planning provisions. As their estate plan is now structured, with current estate size and tax laws there will be no estate tax due on the first spouse's death – and little, if any, estate tax due on the death of the second spouse.
Attorneys practicing in this area
Hanna, Harry M. -
Honn, Darin D. -
Kmetz, Heather A. -
Levelle, Michael D. -
Tarr, Jeffrey S. -
Thomsen, LL.M., Dallas G. -
Paralegals supporting this practice area
Dolan, Michelle L. -