Estate Planning
Life & Legacy Planning, Ltd., will conduct a thorough analysis of your assets and liabilities, including the exposure to transfer and income taxes in Colorado and other jurisdiction, to customize a personal estate plan for you and your family. We will discuss the different options available to you based on your desire for asset protection, requirement to reduce your taxable estate, ease of administration or management, and desired flexibly in your plan.
Advanced Planning for more Complex Assets and Wealth Transfer.
Clients may also require assistance with more complex estate planning beyond a foundation estate plan as part of their strategy for tax planning, transferring their wealth and business succession planning. We are happy to discuss and advise on these advanced planning techniques which my include
- Forming, then transferring assets to a Limited Liability Company or Family Limited Partnership; further planning may include gifting or transferring a portion of this company to your descendants or other beneficiaries.
- Creating a specialized trust such as an irrevocable grantor trust (IDGT); spousal lifetime access trusts (SLAT), irrevocable life insurance trust (ILIT), qualified personal residence trust (QRPT), charitable trusts intended to benefit the charity during your lifetime or after (CLT and/or CRT), and other forms of dynasty trusts.
- For clients who own businesses, we can plan to fairly include both participating and non active family members in the estate distribution to avoid conflict and protect the business as a successful and ongoing entity.