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Estate Planning

Our commitment is to assist you in achieving the objectives you set for providing for and protecting your loved ones when transferring your wealth at the end of your life. We will also assist you to ensure your care during lifetime in the event of an incapacity. Share your objectives with us and let us help you find solutions to best accomplish them.

Client Objective(s) & Potential Solutions

Funding future college education for children or grandchildren:

  • Outright gift
  • Gifts under the Unified Gifts to Minors Act
  • Gifts to minors through a trust:
  • Section 2503(b)
  • Section 2503(c)
  • "Crummey" Trusts
  • Qualified Tuition Plan (529)
  • Educational IRA and Trusts
  • Hiring child part time

Immediate funding of college education:

  • Scholarship Charitable Remainder Trust
  • Employment "hiring" of a Child part-time (your family member)

Gift of use of assets for a time, with assets returned at the end of the time period (business start up, etc.):

  • Long-term reversionary Trust
  • Interest-free loans

Permanent funding for disabled child (or parent) who qualifies for government benefits:

  • Special or Supplemental Needs Trust
  • Charitable Remainder Trust

Giving residence away while retaining use of the residence during your lifetime

  • Gift and lease back
  • Gift with use at sufferance
  • Sale of remainder interest
  • Split purchase
  • Grantor Retained Annuity Trust
  • Qualified Personal Residence Trust

Giving a large asset without paying any gift taxes:

  • Gifts of partial interests
  • Installment gift
  • Grantor Retained Annuity Trust
  • Grantor Retained Income Trust
  • Charitable Lead Trust
  • Intentionally Defective Grantor Trust with Self Canceling Note

Giving property away, but keeping the income produced by that property:

  • Grantor Retained Annuity Trust
  • Private Annuity
  • Installment Sale
  • Sale of Remainder Interest
  • Split Purchase
  • Charitable Remainder Trust

Selling an asset, with another family member receiving the proceeds:

  • Outright gift of property before sale
  • Charitable Remainder Trust

Closely held business is expanding, and client wants to gift shares in the company:

  • Gift of Recapitalized Preferred Stock
  • Gift of recapitalized partnership interest
  • Client’s assets are very illiquid
  • Gift of Illiquid assets

Gift of life insurance in trust:

  • Net Gift
  • Interfamily sales
  • Sale of remainder interest in illiquid assets (artwork, land etc.)

Providing for sudden or long term incapacity:

  • Advanced Directives for Healthcare
  • Durable Power of Attorney
  • HIPAA Release and Authorization
  • Management Trusts for Assets

Seek advice of counsel and a qualified tax professional to assess and implement your lifetime and legacy transfer strategies.

Unless otherwise expressly indicated, any federal tax advice contained herein, is not intended or written to be used, and may not be used, for the purpose of (i) avoiding tax-related penalties under the Internal Revenue Code or (ii) promoting, marketing or recommending to another party any tax-related matters addressed herein.

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