Estate and Asset Protection Planning
The Firm takes great pride in many of its highly successful and high net worth individuals for whom the firm provides counsel. In connection with such representation, we assist our clients in determining how best to structure their holdings and dispose of such assets during and after their lifetime. Such financial planning naturally concerns minimizing a variety of estate-related taxes, while at the same time, protecting assets from third party creditors.
Frequently, the Firm will advise in the formation and funding of a family-limited partnership which provides, among other things: asset protection, a positive method of control, and a long-term plan for the accumulation of wealth that will remain outside of one’s taxable estate.
The Firm is routinely involved with the preparation of Revocable Trusts, Wills, Irrevocable Trusts, Irrevocable Life Insurance, Trusts, Durable Power of Attorneys, Living Wills, and Health Care Surrogate designations.
In addition, the Firm has been involved in the negotiation and preparation of pre- and post-marital agreements (also known as prenuptial or post-nuptial agreements) in order to protect the assets of individuals prior to or during their marriage, as well as assure that other rights and concerns in the marriage are protected. Need Probate Litigation? Learn More: Probate Litigation Attorneys
How to Preserve Your Estate
For over 30 years, the lawyers at Oppenheim Law have been representing various individuals who either have small businesses, medium-sized businesses, have accumulated substantial amounts of wealth, or are in the process of accumulating such wealth. Some of our clients have accumulated that wealth through hard work, sometimes luck like winning the lottery, or through inheritance. Either way, it is a human desire to try and preserve that wealth and make sure that it is not lost through a mistake, mishap or misjudgment.
Preventing Later Issues: Titling Assets, Trusts, and Special Deeds
Assets can be dissipated, not just by improper spending, but also through not properly titling assets and having those assets become subject to nasty divorces, distasteful will contests, accidents or judgments that could attach to the property, including various kinds of liens. Thus, it has always been Oppenheim Law’s approach to holistically review a family’s entire situation and determine how best to title assets, gift assets and protect assets, both in terms of avoiding unnecessary costs and probate, but also ensuring that assets are not lost through imprudently titling assets in such a way that third parties could easily have access to such assets. People frequently choose to place their assets in a trust to avoid probate, but that is only the beginning of the analysis. There are numerous other vehicles that our clients use in order to shield themselves from unnecessary risks. For example, frequently our clients look at life insurance and annuities as well as titling properties, sometimes in offshore entities, particularly real estate assets, and in limited liability companies.
Frequently, when one spouse dies, and the other is getting older, we frequently recommend considering using a ladybird deed, a special type of life estate deed used to automatically transfer property ownership without the need of probate, in order to transfer the surviving spouse’s homestead to their heirs upon his/her death. The beauty of the ladybird deed is that it is efficient and typically avoids the necessity of probate.
Most of the time it is not a one-size-fits-all approach and that there are always unusual circumstances in every family’s situation. Our team at Oppenheim Law will assist in determining your specific needs and then assist in helping formalize, not just your estate, but also to ensure that your assets are held in such a way that you are most protected and, of course most importantly, have peace of mind to know that everything is how you want it.
If you are seeking legal representation for your estate and asset protection planning, contact us online or give us a call at 954-384-6114 today for a consultation with an experienced attorney at Oppenheim Law.
Oppenheim Law | Estate Asset Protection Attorneys
2500 Weston Rd #404
Fort Lauderdale, FL 33331
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