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| ESTATE AND WEALTH PRESERVATION PLANNING |
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The Dilemma Anyone who has accumulated or inherited a taxable estate (more than $1,500,000) is faced with two competing desires: You want to reduce (or eliminate) the inevitable bite of federal and state estate taxes so that more of your assets can be passed on to future generations, but you also want to enjoy the assets during your own lifetime.Wealth Preservation Planning Wealth Preservation focuses on techniques that can be put in place now to reduce the value of your assets for tax purposes, while keeping you in control to the maximum extent possible. It also includes the important area of Asset Protection, because the best estate plan in the world will be wasted if your assets are depleted as a result of a lawsuit or other creditor action.Contingency Planning Contingency Planning is for the period at and after your death, to ensure that there is (1) sufficient liquidity to handle debts and taxes, (2) a smooth transition of business and personal affairs, (3) adequate provision for spouse and/or younger generations, and (4) minimization of estate taxes.Our Approach If it is necessary for us to prepare new legal documents for you, we make sure you thoroughly understand them, going through and summarizing each legal document in plain English. We are committed to answering your questions and maintaining a relationship with you even after your initial problem is resolved.Working Together Often the individual desiring legal advice wishes to have one or more family members attend the consultations. We encourage the involvement of family members while understanding the importance of preserving the privacy of the elder client. |