Redmon, Peyton & Braswell has been planning the estates of its clients for decades. Our estate planning is efficient and timely.
We can assist you with sophisticated estate planning that you and your family need if you own a business, or have access to assets in excess of $1 Million. Our attorneys prepare Wills, Grantor Retained Annuity Trusts (GRAT), Grantor Retained UniTrusts (GRUT), Self-Cancelling Installment Notes (SCIN), Charitable Remainder UniTrusts, (CRUT), Net Income make-up UniTrusts (NIMCRUT), Revocable or Living Trusts, 2503 Trusts, Private Foundations, Intentionally Defective Grantor Trusts (IDGT), Dynasty Trusts, Family Limited Partnerships (FLP), etc. We utilize all lawful estate tax avoidance techniques to assist you in avoiding estate, gift and generation skipping taxes to preserve family wealth through the generations.
We are all mortal. Estate planning involves looking at your options now because when facts change, such as the sudden death of a spouse, those actions may be foreclosed. For example, if you are young and single, estate planning involves making a will, documenting who will make financial and health care decisions for you if you become disabled, and carrying enough life and disability insurance to be sure that you will not be a burden to your family. As you get older, you need to think about long term disability, retirement, and taxes. Our attorneys are skilled at helping sort through the tax and legal issues that you will face in dealing with this inevitability.
Change also affects our estate plans and we should review your plans when change occurs.
- Marriage. Who is the beneficiary of your insurance policies, IRA, 401(k), or Will? Your new spouse?
- Divorce. Suppose one gets divorced and suddenly dies, what happens with all those beneficiary designations? And if it was a particularly nasty divorce, do you want to hand your children a lawsuit?
- Having a Baby. Your will needs to designate who will be the guardian of that child if something happens to you, also you will need to change your will to add provisions for someone to care for the finances if you die while the child is a minor.
- Death of a Spouse or Child. If you lose your spouse or a child, does your estate plan provide provisions for those possibilities? Without such language, you could face terrible tax consequences.
- Change of Residence. Laws are different from state to state. Do not assume that they are the same. If you move, you should have your estate plan reviewed by an attorney in your new state of residence.
- Disability. Disability of a loved one can change your estate plans.
- Changes in Tax Laws. Changes in tax laws can create a whole set of issues for your estate plan.