You have dedicated years of your life to building your estate. Upon your death, what will happen to the fruits of your efforts? At William Berry & Associates, LLC, we can help you determine the best way to transfer your assets before and after death, ensuring that the people you designate as beneficiaries receive as much of your estate as possible, in the exact manner you desire.
Every estate plan, large and small, should include a will. For some, a simple will may suffice, while others, which may include real estate and other assets, should be handled in a different manner. Issues such as avoiding probate, lowering estate taxes and directing the distribution of your properly upon death are all important decisions that should be made with an experienced attorney. An understanding of trust laws, pour-over wills, estate affidavits and more are necessary to ensure the protection of your estate, big and small. The team at William Berry & Associates, LLC, will guide you through the process, directing you to the options best for you and your beneficiaries.
There are two basic types of trusts: revocable and irrevocable. A revocable trust can be altered during the life of the grantor (the person who creates the trust). The assets held in a revocable trust at the decedent's death are subject to the estate tax. Conversely, an irrevocable trust generally cannot be altered after you create it. The assets held in an irrevocable trust at the decedent's death are not generally subject to the estate tax. Our legal team can help you choose which option is best for your unique situation.
For larger estates, our firm has experience in using valuation discounts and other tax-advantaged gifting strategies allowed by the Internal Revenue Service. We use specialized trusts and limited liability entities to accomplish this goal.
Call to schedule a free consultation – 1-618-344-0034