Estate Planning | Making a Difference One Family at a Time

  1. Revocable Living Trust: A device used to avoid probate and provide management of your property, both during life and after death.
  2. Property Power of Attorney: An instrument used to allow an agent you name to manage your property.
  3. Health Care Power of Attorney: An instrument used to allow a person you name to make health care decisions for you should you become incapacitated.
  4. Annual Gift Tax Exclusion: A technique to allow gifts without the imposition of estate or gift taxes and without using lifetime exclusion.
  5. Irrevocable Life Insurance Trust: A trust used to prevent estate taxes on insurance proceeds received at the death of an insured.
  6. Family Limited Partnership: An entity used to:
    1. Provide asset protection for partnership property from the creditors of a partner;
    2. Provide protection for limited partners from creditors;
    3. Enable gifts to children and parents maintaining management control; And
    4. Reduce transfer tax value of property.
  7. Children’s or Grandchildren’s Irrevocable Education Trust: A trust used by parents and grandparents for a child’s or grandchild’s education.
  8. Charitable Remainder Interest Trust: A trust whereby donors transfer property to a charitable trust and retain an income stream from the property transferred. The donor receives a charitable contribution income tax deduction and avoids a capital gains tax on transferred property.
  9. Fractional Interest Gift: An instrument that allows a donor to transfer partial interests in real property to donees and obtain fractional interest discounts for estate and gift tax purposes.
  10. Private Foundation: An entity used by higher-wealth families to receive charitable income, gift, or estate tax deduction while allowing the family to retain some control over the assets in the foundation.