Protecting Your Assets Requires Careful Planning
Taking proactive steps to protect your assets cannot only reduce your tax burden, but also give you and your family peace of mind. The first step to take is contacting an attorney at Sheehan & Associates, P.L.C..
Taxes do not have to deplete an estate. Careful planning and legal strategies can shield money and property for high net worth individuals and families. Our job is to educate clients on the best ways to protect both personal and business interests.
Sophisticated Strategies For High Net Worth Clients
At Sheehan & Associates, we employ various strategies for our clients who enjoy a high net worth. Estate and generation-skipping tax planning can go a long way to reduce the taxable estate and the transfer taxes related to it. Insulating hard-earned assets from creditor collections, lawsuits and government clawbacks to recover taxes are effective techniques to keep what you have worked so hard to secure.
Other techniques include:
- Irrevocable life insurance trusts
- Domestic and foreign asset protection trusts (APT’s)
- Gifts to children’s, charitable and other trusts
- Annual gifting programs
- Unified credit exemption equivalent for lifetime gifts
Personalized service is paramount in asset protection. No estate is the same. Taking a cookie-cutter approach is a disservice and ignores the complexity of your specific financial picture. Implementing plans, trusts and business entities can give you and your heirs peace of mind.
Solutions Start With A Meeting
For more information or to schedule an appointment with an experienced trust planning lawyer, please contact us. We represent clients throughout metro Detroit, southeastern Michigan, and Newport Beach, California.