Estate Planning

It is never too early to consider estate planning because it includes more than planning where your assets go after death.

Estate plans also leave your family prepared for unforeseeable events. Whether you are concerned about who will be your children’s guardian or how your business will operate when you are no longer involved, DLF can put your mind at ease with an estate plan.

We offer affordable estate planning packages that include wills, trusts, powers of attorney, and health care directives. We carefully consider the needs and goals of our client in preparing every estate plan, and provide comprehensive, tax-sensitive estate planning documents individually tailored to each client.

Trusts

A trust is a legal instrument in which assets are placed for the benefit of another person. Trusts take assets out of the estate and therefore, out of the probate process. Trusts may be revocable or irrevocable, created by a will to go into effect at the death of the creator (testamentary trust) or created during the lifetime of the creator (inter vivos trust or “living” trust).

Trusts are not only used for the transfer of assets after death. Many people use living trusts to facilitate an orderly transfer of assets while they are still living. A grandparent may set up an educational trust or special needs trust, for example, which will fund their grandchildren’s education or care. A trustee handles the money according to rules of the trust, which streamlines and simplifies the passing of wealth from one generation to another.

Business Succession Planning

Business succession planning is the process of identifying who will fill key ownership and/or leadership roles within your business when you are incapable or unwilling to do so (because of retirement, illness, or death). Business succession planning allows your business to continue with limited disruption when unforeseen events occur. We advise owners of closely held businesses, including C corporations, S corporations, general and limited partnerships and limited liability companies about preparing your business for a smooth transition in any circumstance that brings about change in ownership.