Everyone needs a basic estate plan. This involves putting the documents in place that will take care of you in case you become disabled and will take care of your loved ones once you pass away. However, there are certain circumstances where additional planning is necessary. This is where Advanced Estate Planning comes in. Here are some of the areas Advanced Estate Planning covers:

1) Tax Planning: If your estate is large enough, you’ll need to work with your estate planning attorney to minimize or reduce estate taxes and generation skipping transfer (GST) taxes.

2) Asset Protection Planning: Your estate planning attorney can help you structure the way you hold title to your property so as to limit creditors’ ability to access it.

3) Planning for Disabled Beneficiaries: A Special Needs Trust can help you leave money to a disabled beneficiary without interfering with his or her government benefits.

4) Planning for Beneficiaries with Special Circumstances: If you have a beneficiary with trouble handling finances or may be in a rocky marriage, your estate planning attorney can help you establish a trust that will allow that beneficiary access to money or property without leaving him an outright distribution. This will help protect his or her legacy in case of divorce proceedings or creditors’ claims.

5) Business Succession Planning: If you’re the owner of a closely held business, special planning is required to smooth the transition of ownership in the event of your disability or death. Your attorney can help you anticipate potential problems and tailor solutions to meet your needs.

For more information about estate planning and asset protection techniques and to schedule your free consultation with one of our attorneys, please contact the attorneys of Wild Felice & Pardo at 954-944-2855 or via email at info@wfplaw.com.  Protecting what you value most.

• The Many Benefits of an Irrevocable Trust: http://EzineArticles.com/4833942 #

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Many married parents aren’t worried about estate planning because they feel that when one of the two parents dies, the other will inherit everything and then set up an estate plan. This is a horrible idea for two mail reasons. First, when a trust-based estate plan is complete for a husband and wife while both are still alive, the amount of money and assets that may be passed to their children tax-free will be DOUBLED. Second, if you and your spouse even drive together, fly together, sleep together or travel together, there is a chance that you could both die at the same time. Don’t play with fire. Get your estate plan in order today.

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• Who is taking care of your children if something happens to you? Is that in writing? Do you want that same person ma…http://www.wfplaw.com #

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• Did you know that a Charitable Remainder Trust can both limit your estate tax and reduce your annual income tax? http://www.wfplaw.com #

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