Family Wealth Preservation Strategies
No matter the size of your estate, you have spent a lifetime accumulating assets and you want to preserve your assets from unnecessary taxes, administration/probate fees and costs so you can plan in a meaningful way for those you love and care about. At the Law Offices of Anita L. Barber, P.A., we start with the premise that every estate, regardless of size, is an important one.
Over the years and having met with many clients, each with their own special needs and desires, we have recommended Revocable Living Trusts as the cornerstone for our clients’ estate plans. A fully funded, Revocable Living Trust offers complete control to clients during their lifetime, provides for them and their loved ones in the event of their incapacity, and on death allows them to pass their assets to their loved ones without the costs, delays and publicity associated with probate.
Creating Your Living Trust-Centered Estate Plan
The Law Offices of Anita L. Barber, P.A. utilizes a holistic approach to understanding our clients, their needs and desires. Our comprehensive process begins with an “Initial Client Conference” to review your assets with you, including your business organization and financing structures. We want to learn about you and your family. Upon completion of this evaluation, we will create an integrated estate plan, custom-designed to meet your specific needs and goals that includes prudent tax planning and asset protection planning. At the conclusion of this meeting, I will quote you a flat fee for the design, drafting and implementation of your estate plan. For more complex estates, we will often schedule a second meeting, the “Design Conference”, to develop your customized estate plan, which may involve the use of Family Limited Partnerships and Charitable/Private Foundations.
Several weeks following the Initial Client/Design Conference, you will return to our office for your “Signing Ceremony”. At this time, we will review your estate plan documents with you in detail, explaining what each document does for you and how your documents interact with each other. If your documents meet with your approval, you may sign your estate plan documents. Once signed, we will provide you with your original estate plan documents and an “Estate Planning Portfolio”. This portfolio not only contains a copy of all of your estate plan documents which we prepared for you, but also vital, important information for you and your family’s use.
We will then assist you with a very important aspect of your estate planning, the “Funding Phase”, to ensure your estate plan works for you. The Funding Phase is the process of transferring assets to your Revocable Living Trust. Your most valuable assets, as determined by you in your estate plan, must be titled with the Trust’s name for the trust to afford any benefit to your family.
As it is my goal to work closely with you and assist you in making good choices for you and your family during your entire estate planning process, please feel free to contact me or one of my staff; we welcome your calls.
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