Advanced Estate Planning

Advanced estate planning—is planning that is implemented with the purpose of minimizing taxes and protecting assets. Advanced estate planning goes beyond planning with a simple will or basic living trust. It is most often implemented for high-net worth families with valuable, or taxable estates and for families with charitable inclinations.

Advanced estate planning goes beyond the basic planning foundations of estate planning and provides options for minimizing or even eliminating estate taxes. Advanced estate planning can be used to perpetuate family values, leaving a legacy and protecting family wealth for future generations.

Advanced Planning involves the use of highly specialized trusts that need to conform to stringent IRS and State rules. If you want to learn how these planning strategies can help you and your family contact our office.

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Advanced Estate Planning for High-Net Worth Families

Advanced Planning for high-net worth families involves several planning strategies with various options for each. Each planning option is used to address a specific goal and result. Some of the planning strategies involve the following types of trusts.

  1. SLATs – spousal lifetime access trusts that permit each spouse to be a beneficiary of the trust created by the other spouse.
  2. DAPTs – self-settled domestic asset protection trusts that permit access by naming the settlor as a beneficiary.
  3. Hybrid DAPTs – non-self-settled trusts that permit access by giving someone a non-fiduciary power to add beneficiaries from a class that includes the settlor.
  4. GRATs – Grantor (Settlor) retained annuity trusts.
  5. SPLATs – Split purchase annuity trusts – two parties purchase an interest in an asset (e.g. the client and a GST exempt trust) and share ownership much like a GRAT.
  6. SPATs – Special power of appointment trusts that permit access but avoid self-settled trust status.

Advanced planning can benefit you, not just your heirs. Litigation and bankruptcies increase when the economy falters, hence the uncertainty in a changing environment makes Advanced Estate Planning quite important. Economic uncertainty, stock market volatility, recession fears, and foreclosures increase the need to learn how best to protect your high-net worth estate.

Related Areas of Practice

Probate Trust Administration Durable Power of Attorney Charitable Giving Special Needs Planning

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Why Copenbarger & Copenbarger LLP?

We are a full-service law firm that has been serving families throughout California since 1979. Since the beginning, our firm’s goal has been to protect clients just like you and families just like yours by protecting your legacy and resources for generations to come. We recognize that every person is a unique individual with unique needs and circumstances. We aim to be your first resource for all professional needs and to ensure that your choices, your wishes, and your legacy are protected.

Copenbarger & Copenbarger LLP

(800) 244-8814

Located in California, the law firm of Copenbarger & Copenbarger LLP represents clients throughout California, including, but not limited to the cities of Sacramento, San Jose, Santa Cruz, Pasadena, Santa Ana, Temecula, San Diego, Riverside, Bakersfield, and Borrego .

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