Tax Management
Taxes are an everyday reality, and Walny Legal Group works in tandem with a client’s financial planning and accounting teams to minimize exposure and risk.
Split Dollar Plans
Attorney Walny explains why sometimes it is beneficial for clients to consider a split dollar plan, a life insurance policy that is owned by more than one person.
QPRT
If a personal residence is the largest asset of an estate, Walny Legal Group can help determine if it would be beneficial to transfer that asset into a trust while a client is still living.
Minimization of Transfer Taxes
Wealth transfer taxes are among the easiest to plan for and minimize, if you plan well in advance.
Live Insurance Planning
Not all life insurance is the same so it is important to find the best choice to achieve the desired outcome, especially if the policy is part of a trust.
LLCs and Business Entities
The isolation of assets, such as parcels of real estate into different LLCs, is a common and beneficial asset protection strategy.
Irrevocable Life Insurance Trusts
While proceeds from life insurance payments are income tax-free, they can be subject to wealth transfer taxes. An irrevocable life insurance trust can ensure that doesn’t happen.
Intra-Family Sales
When family members enter into business relationships with one another their intimate relationships make proper planning and documentation even more critical.
GRAT
In some circumstances, the use of a GRAT can help increase the value transferred to a trust while minimizing tax exposure.
FLPs
Families can establish limited partnerships to manage certain assets, but a high level of expertise is required to best leverage these business entities to achieve a client’s long-term goals.
