Complex Estate Planning

Qualifying for Medicaid, transferring property, or reallocating assets requires complex estate planning. Failure to create a trust or establish certain kinds of financial planning tools could result in greater tax liability, problems for your family and business, and legal difficulties during probate.

At The law offices of Benckendorf & Benckendorf, P.C., we create complex estate planning strategies that allow clients to establish funds for future health care needs, provide for the continuity of a closely held business, or support a cherished cause. Since tax liability and different kinds of penalties are a result of a failure to plan, understanding the options available to you now is essential for avoiding problems later. Our lawyers consult accountants, tax experts, and other financial professionals in determining what works best for our clients.

If you've considered establishing a trust or using additional estate planning tools to protect your family's financial security, contact complex estate planning attorneys at Benckendorf & Benckendorf, P.C., today.

Complex Estate Planning and Your Financial Future

The law offices of Benckendorf & Benckendorf, P.C., advises and represents clients in regard to the following kinds of complex estate planning tools and issues:

  • Special needs trust (supplement needs trust)
  • Testamentary trust
  • Irrevocable trust
  • Immediate annuity
  • Marital deduction / Q-tip trust
  • Business continuity plans
  • Charitable remainder
  • Transfer of property titles
  • Reallocation of assets

Assigning Trusteeship

Regardless of what kind of trust you establish, assigning trusteeship is an important decision not to be taken lightly. While some people elect to assign a family member as trustee, a corporate trustee can also be elected through the services of a financial institution. Typically, corporate trustees are bonded and insured, will prepare annual reports and tax returns on a trust, and provide a greater deal of transparency in their fiduciary responsibilities. However, a corporate trustee will cost more and may even charge fees for many of their services. A family member trustee, while cheaper, is almost never bonded and insured. As a result, if financial mismanagement occurs, it's unlikely that the trust's beneficiary will be able to recover losses.

Contact Complex Estate Planning Attorneys Today

Complex estate planning involves a number of financial, legal, and tax issues. We have the experience and resources needed to navigate this complex area of law while securing your financial goals well into the future.

To schedule an appointment and discuss how we can help you, contact the law offices of Benckendorf & Benckendorf, P.C., today.