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Estate Planning

You’ve spent a life time building your wealth. We want to help your protect it and keep just enough that makes sense. Whether your wishes are Philanthropic or establishing a Legacy or both? These are important questions which will surface in understanding “who you are” and what mark you would like to leave behind. Establishing a legacy does not necessarily mean bequeathing assets upon death, safeguarding for future generations – providing an opportunity for you to determine the future direction of your assets, ensuring wealth preservation perhaps for generations, help minimize tax implications, and to maintain your financial privacy by avoiding probate.

Who will make decisions for you should you become incapacitated? Living wills, durable powers of attorney, and more, are issues which should be addressed in a proper estate plan. You may feel that you're too young to care about estate planning. Or, perhaps the reminder of death makes you uncomfortable. You might be tempted to put the whole thing off, assuming that it will just take care of itself. In all cases, estate planning ends up saving your family lots of time, heartache and money.

After discussing your goals, we will analyze the existing pieces to identify gaps, contradictory instructions and issues that could inadvertently require probate action and tax exposure. A well-designed estate plan can alleviate anxiety and fortify wealth during your lifetime by using asset protection strategies within your estate.

We help you...

  • Clearly define your estate planning goals.
  • Organize and create your estate planning team (experts on law, finance, and taxes) if you need one.
  • Prepare, organize and review your estate planning documents including current wills, trusts, health care and power of attorney.
  • Decrease the problems and expenses associated with probate.
  • Lessen taxes at time of death.
  • Arrange for management of your estate in the event you are incapacitated.
  • Draft a working plan for conserving and effectively managing your estate after death.
  • Transfer the assets of your estate to heirs the way you want.
  • Organize fair and adequate liquidation of estate to cover taxes and other expenses.
  • Amend your plan as needed.

You also get help with...

  • Living Wills and Trusts.
  • Lifetime Family Wealth Transfers.
  • Family partnerships and other business relationships.
  • Leaving money to charities.
  • Preparation for estate and trust tax problems.
  • Our approach to estate planning involves understanding your financial responsibilities and goals. Many of our clients have complex lives with wealth to protect, generations of children and grandchildren and blended families.

Wealth preservation requires a solid foundation. With careful planning and periodic reviews, we can help you can reduce your tax exposure, protect your family and assist you in achieving your goals.

Key Estate and Trust Administration Services

  • Preparation of Federal Estate Tax Returns (Form 706) and applicable State estate tax and inheritance returns
  • Preparation of Federal gift tax returns (Form 709) and applicable State gift tax returns
  • Fiduciary income tax returns (Form 1041) and planning to minimize taxes
  • Foreign-trust reporting, planning and compliance
  • Charitable-trust compliance and planning
  • Preparation of judicial and non-judicial fiduciary accountings for estates and trusts
  • Probate Forensic Accounting and Litigation Support
  • Assist personal representatives with the estate administration process
  • Post-mortem planning including disclaimers and allocation of generation skipping transfer tax exemption
  • Internal Revenue Service and State examinations

Key Estate Planning Services

  • Preparation, implementation and monitoring of estate plan
  • Business valuation & succession planning
  • Retirement planning including implementation of pension plans and funding of
  • Individual Retirement Account (IRA) and Roth IRAs.
  • Family and charitable gifting strategies
  • Asset protection planning
  • Wealth transfer planning

Estate planning offered through unaffiliated service providers.  Tax and accounting services offered through  our affiliate, Thomas J. Longman C.P.A., P.A.