For the business, and for the family, ensuring that our wishes are granted when we are no longer in the position to dictate terms is vital to most. Proper estate planning does not begin at the death of the individual, but (hopefully) far before then. The plans for the succession of a closely-held business should be at the hand of the business owner, not left in the hands of an unprepared spouse or family member, or a surviving partner, nor even the state.
Unfortunately, we have seen too many situations where people have made the mistake of assuming that a Will adequately covers the needs of a spouse or other beneficiaries. In most cases, a Will does not avoid the probate process, allow you to voice your desires concerning conditions on gifts or assets intended for beneficiaries, or reduce the estate’s tax liability.
Investment and estate planning is paramount for individuals with retirement assets and other investments, including real estate, businesses interests and personal property. Careful planning now also significantly assists those designated to inherit assets.
We work very closely with your tax professionals, attorneys, and other advisers to ensure your needs and objectives are met with your planning. We have close relationships with a multitude of highly qualified professionals to assist in the areas of law, estate tax liability, and other needs as needed.