Once you pass away, your Trust becomes an irrevocable trust and cannot be changed. Death is a given, but can you avoid a very public intra-family tug-of-war over your assets? We believe that substantial "business" experience is essential for understanding, structuring, and implementing a comprehensive estate plan for owners and co-owners, including co-owner agreements, business planning, and business succession. You can place your confidence in the lawyers at Dentons.
Your federal death (estate) tax, up to 55%, is based on the "fair cash value" of your property on the date of your death, not what you originally paid. Our attorneys also work closely with other professionals in the financial planning, accounting, banking, insurance, and litigation areas to meet each client's unique needs. To avoid a court proceeding one must act while they still have the capacity to do so. The following provisions shall apply to any and all trusts created under this Will, unless herein provided otherwise: A.
Whether it is a simple will or a complex trust requiring tax planning, we provide high quality services in a cost effective manner. The Siegel Group provides consulting services to accountants, attorneys, financial planners and life insurance professionals to assist them with the tax, estate and business planning and compliance issues confronting their clients. Our firm is dedicated to seeing that clients’ are protected into their estate plan.
We are familiar with the latest iterations of transfer and income tax planning, can provide necessary court-approved accountings, and can serve as trustee in special needs trusts. Probate is a matter of public record; a trust may allow assets to pass outside of probate and remain private, in addition to possibly reducing the amount lost to court fees and taxes in the process. Additionally, our tax planning practice helps clients choose the most tax efficient structure that meets the needs of their businesses, investments or other financial concerns.
Any payments made directly by you to attorneys affiliated with our legal plans or attorney-assisted products are not eligible for exchange or credit. If you own something you think is valuable, get an appraisal and have it updated every five years or so. (Find an appraiser at the American Society of Appraisers .) From your survivors' point of view, an equitable distribution may have nothing to do with monetary value. Jeter III, a skilled Cornelius estate planning attorney in your local Lake Norman area.
You are not considered a client unless we have mutually agreed on the nature and scope of our services. This specific area within the legal realm is coined as Elder Law. Our clients include individuals, family groups, business owners, investors, executives, professionals, celebrities, and foreign citizens. For example, a Nevada resident who dies and hasn't fully funded his revocable trust will need a Nevada probate attorney ( Nevada probate lawyer ).
While other estate planning law firms focus on death related issues, such as the avoidance of probate, minimizing estate taxes, and distributing an estate, Preston Estate Planning, A. Utah probate proceedings can be time consuming at best. Certain recognized forms of charitable trusts allow the donor or the donor’s family to reap substantial income or estate tax benefits. Trusts are not just for the very wealthy -- they can be advantageous for anyone with an estate worth $100,000 or more.
When the trustor dies, the living trust continues to function as planned, with no probate process. In fact, a lot of them use standard templates or even pay for legal document preparation services like ours to do it for them. We prepare a wide range of estate planning documents including wills, revocable living trusts, life insurance trusts, charitable trusts, trusts for grandchildren, durable powers of attorney, health care powers of attorney, living wills and other estate planning tools.
We provide legal representation that meets your estate planning goals. The first step in estate planning is to inventory everything you own, including assets jointly owned, and assign a value to each asset. We are sensitive to those family members who serve as executors or trustees at a time when they might have difficulty focusing on fiduciary matters. These methods are often referred to as 'grooming' employees, but the reality is these methods are vital for a company's overall success.
The fact is, without an estate plan, you can’t control what happens to your property if you die or become incapacitated. Some of these instruments, which are designed to deal with specific problems, require that the trust be irrevocable and unamendable, even during the lifetime of the trustor, in order to achieve their desired purpose. Subsequently, when IPO talks in fact materialized, we worked closely with investment bankers throughout the process further to facilitate the intergenerational planning, conducting sophisticated corporate restructuring to the benefit of both the family and the company.