Estate & Trust Planning

You have worked a lifetime to build wealth. Have you considered what will happen to your hard-earned assets through retirement and in the event of your death? Without an estate plan (prepared by your attorney), your assets will be distributed according to state law and not necessarily according to your wishes. Having a plan in place is crucial if you want to minimize the estate tax burden on your beneficiaries, distribute the maximum amount possible to your beneficiaries with minimum delay, meet each beneficiary’s specific needs, and be sure that your assets are distributed in the manner of your choice.

Planning and distribution of assets

But planning for the distribution of your assets following your death is just one aspect of a comprehensive estate plan. Another is your retirement and the accumulation, conservation and enjoyment of the assets you have acquired throughout your lifetime. The continuity of a family-owned business is yet another consideration- will your business successfully transition from one generation to the next with minimal stress and financial upheaval?

Benefits of establishing a trust

Depending on your situation, establishing a trust as part of a comprehensive wealth transfer plan can be one of the most effective ways of lowering your taxes and diversifying your assets, while providing for your family and leaving a legacy for the future. Using an assortment of planning vehicles such as charitable remainder trusts, grantor annuity trusts, personal residence trusts, family partnerships, credit shelter trusts, marital deduction trusts and revocable lifetime trusts.