Estate planning is an essential component of an individual’s financial life and part of an organized life. Clients of any age who wish to direct the disposition of their property, organize their living estate and maximize the amount of assets passing to loved ones must consider the benefits of an estate plan. Planning for the transfer of wealth involves many important aspects of the law and requires highly specialized skills. Many people are unaware of the heavy impact of estate and income taxation and thus fail to recognize the need for competent and creative advice. A proper estate plan is a plan for living that includes family-wide financial implications. Its principal goal is the orderly transfer of wealth from one generation to the next. There are many components of an estate plan, all of which must be implemented to meet the goal of asset and income preservation and to create appropriate liquidity when needed to satisfy tax obligations, without threatening the estate as a whole.
We provides a wide range of estate planning, trust, probate and guardianship services to our clients. We develop custom estate plans that provide for tax-efficient distribution of assets both during life and at death. As all clients have different family needs, financial circumstances and objectives, personal passions and interests, every estate plan is unique. Estate planning may include:
- wills
- trusts
- charitable giving structures
- private foundations
- gifting programs
- planning for family members with special needs
- business succession planning
- family limited partnerships
- liquidity planning
- disposition of assets
- insurance trusts
- asset protection
- powers of attorney
- guardianship proceedings
Law Offices of Dennis V. Composto 