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.
Dynasty (GST-Skipping) Trusts
Some dynastic trusts can literally last forever, making proper drafting and flexibility extremely important for providing tax efficiency and asset protection for generations to come.
Planning for College Students
For anyone over 18 years of age, Healthcare Power of attorney, durable power of attorney and HIPPA documents are very important.
HIPPA Waivers
Your private medical information is yours alone, but a HIPPA waiver can help ensure your private medical information is disclosed to loved ones so that you can get the best care during a time of crisis or need.
Healthcare Powers of Attorney
Powers of attorney documents are perhaps the most critical estate planning tools that are used while a person is still alive.
Property Powers of Attorney
Powers of attorney documents are perhaps the most critical estate planning tools that are used while a person is still alive.
