Areas
of Law - What do we do?
It
is not uncommon to be "in the dark" about what type of
legal services you may need. Do you need a will or a
trust? Is estate planning only for the very wealthy?
In order to better
assist you, we have briefly described the areas of law that we
specialize in. Please CLICK
on any service below that would like to learn more
about. You
can also try our F.A.Q.
page, or "frequently asked questions", where there is
a more in depth explanation to some common
questions. You
also have the ability to ask your own question
via our website.
Estate planning
describes a process of integrating life and death planning -
with asset protection, tax and retirement planning. It
also includes ownership of property and business interests in a way which will achieve
your personally selected goals and objectives. This type of planning is not
discriminatory of income levels. Most everyone can do
estate planning. “Estate
planning” does not truly give justice or accurately describe
what it is that our firm does for families.
We
like to call what we do "Life Planning".
Most
of our clients do not do life planning for themselves,
they do it for the people that they love and care for.
For some people “estate planning” is to accomplish
the saving of taxes or avoiding probate.
However, successful planning, that meets the test of
time, is about everyday people who have the opportunity of
transferring, not just their property or wealth,
but their wisdom, as well.
Certain
truths or wisdom can be passed on about life, disability and
death. That is at
the core of planning.
Life
planning tools would consist of documents prepared to carry out
your instructions and to control your property while you are
alive and well, and to see to it that your family is provided
for. Tools to accomplish this end might be:
-
Trusts
-
Financial
power of
attorney
-
Health care
power of attorney
-
Instructions
for health care agents
-
Instructions
for my trustees and guardian for the care of minors
-
Retirement
planning maximization
-
Property
protection agreements
-
Remarriage
protection agreements
Wills and Trusts are the
legal tools which will convey your instructions as to what you
want to have done at the time of your death. A trust is
different from a will, and can be used in the event you become
disabled and unable to make decisions.
The documents themselves
are just one piece of a larger jigsaw puzzle of tools which are
needed to insure proper successful planning . The proper
selection of the right tool, and more importantly, the selection
of the right process will make the difference in an estate plan
that will work, or will fail. We will be able to tell you
which tool is right for you, and how you can best utilize either.
Whether it is a small
condominium or several thousand acres of farmland, our office
can help you review and prepare the important documents you need
prior to making any major decisions.
In
the realm of Estate Planning, the way in
which you own property will have a dramatic effect on your
estate planning - and the result that you hope to achieve.
Its not how much you own, but how long you'll be able to retain
the property and potentially pass it on to succeeding
generations.
The selection of the right
business entity can make a big difference in limiting your legal
liability and tax liability. You also need to consider what rules
are going to govern your company? Who will be the owners? The
decision makers? Our offices have the ability to meet with you to
discuss your goals, understand your business, and work with you to make
the right choices. We will handle everything from registering
you with the Secretary of State, to issuing shares of private stock.
We can also review commercial contracts, asset purchase agreements and the
like.
In
the realm of Estate Planning, the way you structure your
business can determine how success you will be in planning for tax avoidance and deferral, creditor protection,
retirement, and wealth accumulation. Proper planning
requires timeless wisdom through a continuous updating and
education process, with a counselor to assure the achievement of
financial and personal planning goals. Go to our corporate
exit planning schedule by clicking here.
Probate is a process
through the courts, which allows the transfer of property
formally owned by a decedent to be transferred to their family
or those persons listed in a will.
Guardianship is a similar
judicial process, but involves legal issues which arise during
life if an individual becomes mentally disabled and unable to
make decisions concerning themselves. A court appointed
guardian will make personal and legal decisions on behalf of the
disabled person.
A conservatorship
is a
court process designed to manage the property owned by a
disabled person.
The choice in how to live
out your remaining years must be made long in advance of
retirement in order to assure good quality of life.
Individuals who face an uncertain future of being able to
continue to live independently - must plan for how to pay for
long-term care assistance or face the consequence of going on
well fare.
Medicaid is a well fare
program. No area of law is more complex or fraught with
peril and misinformation than this area. The importance of
on-going counseling is never more important than when dealing
with disability and long-term care issues.
Disability
planning tools include:
-
Financial
power of
attorney
-
Health care
power of attorney
-
Advanced
medical directives
-
Living wills
-
Instructions
for health care agents
-
Docubank™
-
Family &
client education courses: Nuts & Bolts I, II, III
-
Trusts
-
Medicaid
/ Long term care protective trusts
-
Special
needs trusts
-
Discretionary
disability trusts for disabled adults
Elder law
connects many areas
of law in assisting older individuals with their unique problems
involving death, disability, real estate, public assistance,
retirement, and transfer of property - either during life or at
death.
Wealth strategy uses
creative planning techniques to minimize the affects of taxation
and maximize the amount of money and property which is placed in
the hands of family members after death.
Death planning
tools consist of:
-
Trusts
-
Wills
-
Anatomical
gift declarations
-
Memorial or
final instructions
-
Instructions
for care of minors
-
Appointment
of guardians for minors
-
Instructions
for my trustees and guardian for the care of minors
-
Memorandum
for disposition of personal property items
-
Minors
trust
-
Special
needs trusts
The laws of intestacy will govern those persons who choose none
of these.
If
you are not sure if you need a "Will" or a
"Trust", please visit our F.A.Q.
page for a more detailed synopsis of the two.
Corporate
Exit Planning Strategies
Exit planning, or business succession planning,
is a way in which owners of businesses can develop a plan or strategy where they
can exit their business in a way in which the owner can maximize the value they
will receive as they sell or exit their business while at the same time
minimizing the effects of taxation.
The process which is used is a unique 7 step
process which has been years in the development.
Business owners will voluntarily or
involuntarily exit their business one day or another. Involuntarily, they leave
their business as a result of death, disability, or the loss of a key employee
which requires the business to be closed.
Few business owners effectively plan for their
voluntary exit from their business. In many plans suffer from too little too
late.
In order to maximize the value for the owner,
a conscious effort needs to be made by the owner where they will start early in
the development of a planning strategy which incorporates their trusted advisors
and as well as make use of specialized and highly educated advisors who can
provide them with counseling strategies through the planning process.
Exit planning usually results in the sale of
the existing business to an employee or third party outside the business or to
the transfer of the business to an inside family member. Regardless of which way
the business owner decides to transfer the ownership of their business, special
consideration needs to be given to the best strategy to accomplish the family
and business goals as well as making the most opportunity of the tax advantages
and tax avoidance strategies that the law allows.
Our Exit Planning process starts, as does the
planning for all of our services, with education. There is a monthly group
education program which is offered at no cost or obligation.
Following the education, there is the
opportunity for the individual counseling session to learn more about this
process and what is involved.
For a list of Exit
Planning Programs, click here
Back
to Top
|
