Have you decided who will get your house, your money and other assets when you die? This process is called estate planning. We will help you make these important decisions, and put them in writing, so your family will follow your wishes. We will explain to you what a Health Care Proxy, a Power of Attorney and a Disposition of Remains Appointment are and how they are incorporated into your overall estate plan.
Who will take care of you and manage your finances when you are sick or unable to take care of yourself?
Our firm specializes in Wills and Trusts and can explain why you need a Will or a Trust and what happens if you die without one of these documents. We will also explain to you what a trust is, and help you decide if a trust fits your needs. If your estate is over $1 million, we will discuss with you ways to plan for and reduce your estate tax through proper tax planning. Our goal is for you to leave our office with an estate plan that you understand and that will cover all your future needs.
Asset Protection
Asset protection focuses on the management and preservation of assets during life and following death. The goal of asset protection is to protect your property from potential creditors, predators and Nursing Home Expenses.
Asset protection strategies seek ways to protect assets from being absorbed or taken by others. They protect individuals from Long Term Care Expenses, Creditors, Predators as well as the pitfalls of divorce. Trusts may be established in such a way that creditors or litigants cannot try to take the assets held in them. Additionally, plans can be made to protect a family home, business interest, money or other assets from being taken by the government if an individual later needs to depend on the government for support or medical services for extended stays at a Nursing Home.
Estate Tax Planning
Our Department works to develop a plan to minimize transfer taxes during and after a client’s lifetime
The Tax Planning Department works to develop a plan to minimize transfer taxes during and after a client’s lifetime, by utilizing sophisticated techniques to maximize the wealth our clients transfer to their children or to other designated beneficiaries. The tax planning department will prepare estate and gift tax returns, and provide assistance in resolving audits of estate and gift tax returns. In addition, the Tax Planning Department will consult with our clients to help them fully understand their retirement benefits, and advise and develop strategies to maximize the benefits our clients receive from their retirement plans. Our key services in Tax Planning include:
1. Developing an Estate Plan to maximize the use of the Estate Tax Exemption
2. Preparing Estate and Gift Tax Returns and Resolving Audits
3. Use of Advanced Trusts to Maximize Wealth Transferred to the Next Generation
4. Planning with Investments and Retirement Benefits
5. Charitable Planning with Retirement Benefits
6. Planning to minimize the impact of Large Capital Gains
Contact
Need help? Call us
2310 Genesee St.
Utica, NY 13502
