Estate Planning Services

3 Stages of Estate Planning

Stage I

While settlor's are alive: nomination of guardianship/conservatorship

• Income tax liability
• Gifting programs
• Estate freezing programs
• Future value planning (insurance) retirement planning
• Business Succession planning
• Establish liquidation program (FET)
• Disability
• Health Insurance
• Nursing home planning
• Power of attorney, health care directive and health care directive for minor children

Stage II

At first death:

• Avoid probate (delays, public disclosure and cost)
• Avoid ancillary probate
• Alternate valuation option
• Protection from second marriage
• Elimination of general Power of Attorney
• Establishing management for surviving spouse
• Trustee succession plan
• Reduce FET and State inheritance tax
• Protection from creditors (due on death clause (notes))
• Discount planning to reduce FET
• Retirement planning (no spouse)
• Future value planning (prepay estate taxes)
• Identify and establish liquidation program for FET
• Business succession planning (initiated)

Stage III

At second death:

• Avoid probate and ancillary probate
• Eliminate and reduce federal and state inheritance taxes (100 years)
• Alternate valuation option
• Avoid sibling rivalry
• Avoid minority stockholder problems (succession of business established)
• Eliminate fractional interest problems (partition situation)
• Eliminate Due on Death clause (notes)
• Eliminate creditor problems, divorce, lawsuits, bankruptcies and premature death
• Generation skipping plans for bloodline, drug provisions, employment planning, charitable planning, Medicaid planning and grandma and grandpa educational planning for great-great grandchildren planning
• 303 Redemption planning
• 6166 Payment option