Asset Protection & Wealth Preservation

For individuals with larger estates, proper Estate Planning also allows for the protection of assets by minimizing estate tax liability.  This is one of the best ways to preserve wealth for your family. This can be accomplished by an experienced and qualified estate planning attorney who is knowledgeable about the tools you will need. The law also can change from year to year so it is important to review your plan on a regular basis and consult with an expert attorney who keeps up on the latest changes with regard to inheritance taxes and step-ups in basis.

These are some of the vehicles Baker, Burton & Lundy uses in wealth preservation:

• AB Trusts
• Discounted gifting, sometimes using entities such as limited liability companies
• Generation-Skipping Trusts (this refers to tax skipping rather than beneficial use skipping a generation)
• Life Insurance Trusts
• Grantor Trusts
• Qualified Personal Residence Trusts (QPRTs)
• Portability

Please see our Estate Planning page for more information about estate planning and our process. We hope you will keep us in mind as you plan for the future financial security of your family.