Creating Your Legacy
Chances are, you have a financial horizon that goes beyond our life time. You may want to provide the next generation with the financial backing and a leave a legacy behind. We rise to the challenge and proudly work with you to create an estate planning roadmap. Our substantial experience in multigenerational wealth transfer and estate taxes allows us to propose the ideal asset selection and financial safety net aimed at returns, as well as taxes.
Trusts are frequently-mentioned, but often misunderstood entities. A correctly structured trust can not only shield your assets from many adverse events that may transpire during your lifetime, but will also preserve them after your death. We have experience in various kinds of trusts, including
- Revocable living trusts
- Marital trusts
- Credit shelter trusts (CSTs)
- Grantor retained annuity trusts (GRATs)
- Grantor retained interest trusts (GRITs)
- Grantor retained uni trusts (GRUTs)
- Irrevocable trusts
- Irrevocable Life Insurance Trusts (ILITs)
- Delaware directed trusts
- Dynasty trusts
- Testamentary trusts
- Charitable remainder trusts (CRTs)
- Charitable lead trusts (CLTs)
- Charitable remainder annuity trusts (CRATs)
- Charitable lead annuity trusts (CLATs)
- Private foundations
In addition, we also provide guidance on selecting the right trustee. It should never be forgotten that the right trust in the hands of the wrong trustees can have disastrous consequences. When you need help with the critical decision of who you should put in charge, we will explain the advantages of corporate trustees and help you select the best one. Especially in complicated trust arrangements, which require in-depth knowledge about a wide array of applicable tax and estate law, the choice of trustee is absolutely crucial.
When referring our clients to experts beyond our firm, our advice is impartial. We do not accept a referral fee or any other favors from outsiders for referring clients and propose candidates with only your best interest in mind. We consider the potential challenges of the specific trust to match each client with the most suitable corporate trustee.
Whether you wish to leave enough wealth to your children, contribute to a charitable cause that will outlive anyone alive today or wish the preserve the business you worked so hard to establish, we are here to help.
Many of our clients want to give back to their local communities, their nation or to the world at large. Having seen the immense positive impact such generous acts can have on people, we are proud to help you make the most of your charitable funds.
Some individuals have a specific destination in mind for their charitable giving. Other clients, however, need input before making a selection. Should this be the case, we assist in helping the right charity whose goals and vision are compatible with yours. We then work this outlay into the rest of your broad financial plan to optimize the tax consequences of charitable contributions. If some of the contributions are to occur after you pass away, trusts and estates too become an integral part of the equation.
Some families, perhaps like yours, have ambitious philanthropic goals that involve significant complexities. Among the tools that can provide the powerful impact you are looking for are Private Foundations and Donor Advised Funds. It is a pleasure to help you formulate and execute the most suitable strategy to benefit the causes dear to your heart.