Skip to Content

We provide sound advice on the management and transfer of wealth to family members and charities by implementing sophisticated transfer strategies. Among the instruments we might employ are:

  • Generation-Skipping Trust: Federal law allows the creation of this type of trust to ensure that inheritances can pass from one generation to the next without incurring taxes. This trust can also protect wealth from creditors, divorce and bankruptcy
  • Grantor Retained Annuity Trust: Also called a GRAT, this is a type of irrevocable trust that allows the grantor (donor) to contribute significant wealth to the next generation without incurring a gift tax. This is a valuable tool for wealthy individuals who would be facing large estate taxes upon their death by allowing them to freeze a portion of their estate and shift appreciation to their heirs. These are time-limited trusts during which annuities are paid annually. Once the trust expires, benefits are received by heir(s) tax-free, as taxes are paid by the grantor at the time the trust is established
  • Sale to Grantor Trust: Much like GRAT transactions, sales to grantor trusts are another tool that allows for freezing the value of an estate while shifting appreciation to a place outside of the grasp of estate taxes. Sales to grantor trusts offer a variety of anticipated benefits over GRAT transactions, depending on the circumstances
  • Family Limited Partnerships: A business that is organized as a family limited partnership (FLP) has many benefits, among them: ensuring that the business will stay in the family while reducing income and transfer taxes, allowing control to be maintained while distributing business assets to heirs, and providing liability protection to partners
  • Buy/Sell Agreements: These agreements can help avoid disaster in case of the death of a business owner. By establishing a buy/sell agreement, owners can avoid the need to liquidate the business; ensure its orderly continuation and income for the family of the deceased owner; and instill confidence in customers and creditors
  • Charitable Trusts: Different types of charitable trusts can be utilized to take advantage of tax laws that (depending on numerous factors such as interest rates and appreciation of assets) may allow for a charitably inclined person to do more for his family and charities, as a whole than may be accomplished by simple direct gifts
  • Qualified Personal Residence Trust: This trust removes the personal residence as a taxable asset in an estate plan while allowing the owner to remain living in it, and is an excellent instrument for those whose homes have significant value. Like the GRAT, this trust is set up for a period of time and can allow for a shift of appreciation that is outside the application of the estate tax

Let Our Florida Wealth Preservation and Estate Planning Attorneys Help Design a Strategy That’s Right for You and Your Heirs

From establishing new estate plans to modifying trusts that have outlived their effectiveness, our attorneys have a strong background in providing sound advice and sophisticated strategies to help you preserve a legacy for generations to come. To schedule a consultation, please contact us online or call our office at 954-314-4000.

Free Consultation

This slideout can include a call-to-action or a quick scroll back to the top.

Scroll to Top