Since 2005
FinancialOpen - Directory of Forum on Finance & Banking is a financial community with information on banking, loans & mortgages, stock & bond, taxes, economics, personal finance.

What is Advanced Estate Planning?

Discuss everything related to Financial Planning (Asset Protection, Business Plan, Debt Consolidation, Estate Planning, Retirement Planning)

What is Advanced Estate Planning?

Postby Sijo Abraham » Wed Jun 12, 2013 1:30 am

Here are some of the areas Advanced Estate Planning covers:

1) Tax Planning: If your estate is large enough, you'll need to work with your estate planning attorney to minimize or reduce estate taxes and generation skipping transfer (GST) taxes.

2) Asset Protection Planning: Your estate planning attorney can help you structure the way you hold title to your property so as to limit creditors' ability to access it.

3) Planning for Disabled Beneficiaries: A Special Needs Trust can help you leave money to a disabled beneficiary without interfering with his or her government benefits.

4) Planning for Beneficiaries with Special Circumstances: If you have a beneficiary with trouble handling finances or may be in a rocky marriage, your estate planning attorney can help you establish a trust that will allow that beneficiary access to money or property without leaving him an outright distribution. This will help protect his or her legacy in case of divorce proceedings or creditors' claims.

5) Business Succession Planning: If you're the owner of a closely held business, special planning is required to smooth the transition of ownership in the event of your disability or death. Your attorney can help you anticipate potential problems and tailor solutions to meet your needs.
Sijo Abraham
 
Posts: 1
Joined: Fri Jun 07, 2013 2:07 am

Return to Financial Planning

Who is online

Users browsing this forum: No registered users and 1 guest