Estate Planning - Asset Protection Clients

Here are just a few examples of various cases the firm has represented over the years:

Retired Business Owner with multiple real estate holdings in 4 states. Net worth over $14.5 million. Potential estate tax liability over $6 million with multiple ancillary estate administration costs. Established Family Limited Partnership with Limited Liability Company as general partner. We prepared several revocable trusts to hold personal real estate, prepared and funded an irrevocable life insurance trust, and re-structured investments to lower income and estate taxes.

General Contractor with over $7 million in revenue and net worth over $9 million. With only one of several adult children working in the business, we had to complete a comprehensive business continuation plan, restructure the business form to enable the owner to control his business while transferring control over several years. We implemented a plan to lower income and estate taxes while ensuring continuation of the business in the event of the owner's death.

Restaurant Owner with $1.1 million in sales and sole owner of the business real estate. Owner had large risk exposure due to ownership of boat and aircraft; all in owners name. Our office converted the business to a limited liability company form, placed boat and aircraft in separate entities, completed comprehensive asset protection plan to limit exposure to frivolous law suites and to reduce income and estate taxes.

Heating Oil Business with five delivery trucks. All assets where being held by the owner in his name alone. Oil spill liability was great and any spill would have resulted in the client loosing everything. We re-structured the business, placing each truck in separate entity and limited the client’s exposure by forming a Family Limited Partnership with Limited Liability Company as the general partner.