Succession Planning Lake County

As one of the Lake County’s most experienced private wealth practices, we provide sophisticated, personable, and proactive tax, business, charitable and estate planning, and succession planning Lake County services for our clients—high net worth families and individuals and, senior executives of public companies and closely-held businesses.

The value of your estate is defined by the years of vision and hard work that you have invested. We provide practical estate planning solutions for all situations, even the most complicated, and sophisticated. We will ensure that all your wishes are followed and an estate plan that is customized to your situation, is created so that the distribution of your estate to your family, charities, and friends, is done, in the time and manner you desire. Each individual situation is unique, we will work with you directly, using a wide variety of techniques, to ensure that all your planning objectives are fully accomplished. We will guide you through the whole process of preparing for the smooth transition of all your financial assets after you have passed away.

Part of the succession planning process involves focus on provision of stewardship for your partner or spouse and children, assuring the right individuals care for your children. It also addresses the issue of control of your estate in the event of your incapacity.

Depending on your personal circumstances, we can structure your plan to eliminate or reduce taxes and also address asset protection for the intended beneficiaries of your estate. You can also use the planning process to identify and incorporate your family values into the succession plan, this will enable you to also pass to your family a legacy that is based on value.

Succession Planning Lake County Services We Offer Include Wealth Transfer, Wealth Protection, and Estate Planning

Some of the estate planning services that you may use in developing your succession planning, include:

1. Wills – are all about your final wishes and thoughts, and the meeting of the property financial and needs your survivors. We can help you draw up and update your will, as conditions change.

2. Probate – This is a system that is monitored by the courts, it helps in ensuring that creditors are paid before beneficiaries or heirs can own the assets.

3. Trusts – These are necessary for estate planning, asset protection, privacy benefits, probate avoidance, and can eliminate or minimize estate taxes. They can also be used to maximize the income of your family. Some of the trusts that you may use include revocable living trust, irrevocable life insurance trust, and dynasty /multi-generational trust.

4. Disabled adult guardianship – This becomes necessary if you become incapacitated, and as a result incapable of managing your financial affairs and/or health concerns.

5. Charitable Planning – This involves the formation of non-profit entities, creation of trusts, and donations of goods or money to the charities that can fulfill your charitable goals. This can result in you getting tax savings.

Complex estates may involve the transfers of estate freeze trusts, business succession planning, wealth, and also includes efforts to eliminate or minimize estate taxes.

We offer succession planning Lake County, phone, e-mail or fax us today so that our estate planning attorneys can advise and guide you in creating the best customized succession plan that will be suitable for you and your beneficiaries. Your family’s future generations, will thank you for it.

Get Success Planning Lake County Services Today from WM Schwartz.

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