Our estate and tax attorneys hold master’s degrees in taxation as well as other professional licensure such as CPA and Insurance and are encouraged and hold licensure in multiple states making us uniquely equipped to provide comprehensive estate planning representation for our clients. A comprehensive estate plan can be one of the greatest gifts you can give to your family but goes well beyond the typical Last Will and Testament. Our attorneys will take the time to first truly understand what your goals and desires are regarding this extremely important family planning. We understand that each client is unique in their goals for their family and therefore each estate plan needs to be uniquely tailored to that client.
Estate planning consists of five main pillars:
If something happens to you, who do you want making medical decisions for you? If you were to die, who do you want to raise your minor children? Who do you want to manage money for them until they are old enough, and when is old enough? And, most importantly, do you have the flexibility to update and change your planning as life events change?
02. Tax Planning
Without effective tax planning, it is difficult if not impossible to effectively transfer wealth multi-generationally. From very basic planning to the most sophisticated, York Howell focuses on eliminating or reducing potential transfer taxes to the maximum extent possible.
03. Asset Protection
Lawsuits, divorces, bankruptcies, and bad business deals can also have a devastating impact on the transfer of wealth. In fact, it is because of the impact of taxes and outside attacks that most family wealth does not pass beyond the third generation. At York Howell, we always factor in appropriate and effective asset protection in any wealth transfer plan.
04. Maintaining Privacy
Probate is the court-supervised process of changing title to assets. To the greatest extent possible, we try and avoid the time and expense of probate and we also try and avoid the public nature of the probate process. We design estate plans that keep you from having to file a public list of your family, their addresses, and a description of the type and value of your assets.
Beyond simply ensuring that your wishes are effectuated and your assets protected, it is critical to think through the impact that your wealth will have on your family, your business, and your community. We have been fortunate to work with hundreds of families who realize that the best, most meaningful and most impactful legacies are achieved through thoughtful and intentional planning. We will help guide you through the myriad of options available to you to ensure that your plan has the impact that you desire based on your unique situation and your personal goals, values, and beliefs.
For clients who are interested in a facilitated core values experience, we also offer The Entrusted Planning Process. The Entrusted Planning Process is built on the Seven Core Disciplines that successful high-net-worth families have used for hundreds of years (as discussed in David R. York and Andrew L. Howell’s book Entrusted: Building a Legacy That Lasts). Individuals, couples, and families play the Rivets Core Values Card Game to determine their core values. These values are then directly integrated into your Purpose of Trust and serve as the foundation of your planning.
A few possible outcomes of the Entrusted Planning Process:
- Discover the values that drive your planning
- Establish a starting point to discuss your planning with your family
- Align your family’s unique culture and goals
- Prepare the next generation for stewardship and purposeful inheritance
ESTATE PLANNING SERVICES
Our Estate Planning Team Can Serve You In:
- Randy Sparks
- David York
- Andrew Howell
- Spencer Witt
- Stephen Mayfield
- Eric Whiting
- David Bishop
- Matthew Richards (not pictured)
- Asset Protection
- Buy Sell Agreements
- Charitable Giving
- Elder Law
- Family Legacy Planning
- Federal Tax Law
- International Tax
- Non-Profit Organization
- Probate Administration
- Tax Controversy
- Tax Planning