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Special Needs Trust Attorney

Special Needs Trust Attorney

At our company our attorneys focus their practice on estates and trusts administration, domestic and international estate planning sophisticated domestic and international taxation, and asset preservation counsel to CEOs of major corporations, ultra-high net worth individuals, multinational businesses, and charitable organizations. Over the years, our legal practice has continued to rapidly expand into several additional complex and sophisticated areas in which we had advised many clients, including, but not limited to: international tax and wealth preservation planning; family business succession planning; tax and estate controversies; corporate and partnership business structuring; marital planning; and income tax planning for closely held businesses and real estate clients. Additionally, some of our attorneys serve as legal advisors to many prominent charitable organizations and have developed a niche practice in the complicated area of charitable planning and the structuring and operations of nonprofit organizations under the federal and state laws dealing with complex issues including, lobbying, advocacy, unrelated business income tax, joint ventures, avoiding excise taxes and foreign charities. Special Needs Trust u2013 created to help provide care for chronically disabled individuals (children, parents, siblings). Can be created during lifetime or at death.

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Irrevocable Trust

Irrevocable Trust

Trust is a legal entity in which you can place certain assets to accomplish specific goals. There are many different types of trusts, each used for different purpose. The following are some of the most common types of trusts:Revocable Trust u2013 This is a trust that you can make changes to at any time, or even be revoked the trust entirely. It is used for testamentary planning to avoid or ease the process of probate. Irrevocable Trust u2013 Most often used for lifetime planning, involving gifting, business planning and succession, wealth succession, pre-marital planning, asset protection and planning for lifetime events (such as childrenu2019s marriages, new grandchildren, new business ventures, loss of job or medical insurance, retirement)Special Needs Trust u2013 created to help provide care for chronically disabled individuals (children, parents, siblings). Can be created during lifetime or at death.Generation Skipping Trust u2013 If you want to pass money down to your grandchildren, or other heirs at least two generations away, this type of trust can help accomplish that goal while bringing significant tax savings.Charitable Trust u2013 You can leave an income stream to a specific charity in a trust and leave the remainder for your descendants (or the other way around) to take advantage of charitable income tax deductions or estate tax deductions.Business succession trust u2013 used to centralize control over family business or assets.

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