A couple in their early sixties with an extended family was introduced by their accountant. The couple had a sizable estate. They were curious about how the recent tax laws changes effected their plan. In reviewing their existing plan, investments and how things were owned/titled coupled with their current intentions, several oversights were discovered in their current plan.
By working with their attorney, their documents were updated to reflect their current wishes while establishing trusts to protect their children and their hard work from potential future divorces and creditors of their children/grandchildren. Their vacation home, rentals and land that the business leased were transferred into new LLCs to add a layer of protection beyond the basic insurance coverage.
Lastly, we were able to untangle and prevent some serious tax and family conflicts/ownership issues associated with one of their parent’s estate before she passed away later that year.