Protecting Assets During Estate Planning
Preserving any emotional investments in your marriage when it is ending, memories fond and not, is up to you. But when it comes to a just division of material investments during divorce, including a home built and money earned during the relationship, an experienced family law attorney can work hard to safeguard your vital legal interests, even in the absence of a prenuptial agreement.
This guidance is a critical role we perform every day, for a multitude of family law clients across the greater Tacoma area, at Vieira & DiGianfilippo. You can benefit from our solid reputation for achieving favorable property division outcomes via mediation, negotiation and, if needed, litigation in the courtroom.
Almost Six Decades Of Estates Guidance For Rhode Island And Massachusetts Families
Protecting the wide range of your assets can serve to avoid legal crises such as:
- Estate taxes —There are options available to use your estate tax exemptions and minimize estate tax burdens for you and for your heirs after your death.
- Income and capital gains taxes — Careful planning also minimizes taxes your heirs will pay on inherited assets (especially retirement accounts) following your death.
- Nursing home costs — Long-term care expenses can derail retirement plans and deprive your heirs of an inheritance. We can protect and preserve your estate from long-term care liabilities.
- Probate — The probate process has many disadvantages that make it worth avoiding. Costs, delays and the fact that it is a public process that exposes family matters in publicly accessible records are among some of the main reasons to build a plan that helps keep your estate out of probate.
- Disputes among heirs — Failing to leave clear, concise directions for your estate can easily lead to disputes and conflicts among loved ones. The cost of fighting over the estate can destroy or vastly diminish the value you intended to pass on.
- Divorce and liability claims — Proper use of your generation-skipping tax exemption and trusts, which continue even after your death, can help keep your estate within your bloodline and protect it from divorce claims and other liabilities.
A major asset to be protected in estate documents is a closely held family business. The ability to preserve significant estates built through entrepreneurship, business formation and expansion is one of our firm’s many strengths.
When the time comes for the next generation to take over your life’s work, you want to ensure the smoothest succession possible. An effective estate plan can help create a seamless transition that protects the value of your business and benefits your loved ones for years to come.
Contact Vieira & DiGianfilippo
For an initial consultation with our experienced asset protection legal advisers, call us in Providence at 401-400-3375, in South Easton at 508-297-6163, or Mansfield at 401-400-3375. Your email will be responded to promptly.