At Jones, Nale & Mattingly PLC we devote extensive attention to our clients' estate planning and administration, trust planning and administration, and business planning needs. We help them develop the right path for estate tax, income tax, retirement and business succession planning. The right path is designed based on the Business Succession and Estate Planning Services objectives defined by the client as well as the tax implications inherent in achieving those objectives. Within these general areas, we assist individuals, families, closely held businesses and fiduciaries with the implementation and administration of the following planning strategies:
Estate and Gift Planning
Many techniques exist to preserve wealth and minimize taxes. We assist in developing the estate plan that accomplishes our clients' goals with the minimum tax cost. We inform our clients of the options available to them and ensure that they understand how this will impact both themselves and their beneficiaries. Basic estate plans generally include a Will, Revocable Trust, Power of Attorney, and Healthcare Directive (Living Will). Advanced estate planning techniques that may be implemented include a Generation Skipping Trust, Irrevocable Life Insurance Trust, Grantor Retained Annuity Trust, and a Family Limited Liability Company just to name a few. An annual gift plan may also be developed depending upon on the size and structure of our clients' estate.
Business Planning and Succession Planning
Whether our clients need assistance with forming a company or structuring a sale/transfer of the company, we can provide expertise to structure a plan that's in our clients' best interest. We advise our clients as to the tax consequences on such matters as choice of business entity, business organizational documents, buy/sell agreements and executive compensation.
Estate and Trust Administration
The preparation of fiduciary income tax returns, Federal and state estate tax returns and Federal gift tax returns is just one service we provide our clients. Estates and trusts hold a variety of assets and are governed by the provisions of the will or trust established by the client. We assist fiduciaries with the administration of the various estates and trusts to ensure that they are properly executing their role as fiduciary by filing tax returns, managing assets, making disbursements to beneficiaries and properly funding succeeding trusts. Postmortem planning, such as disclaimers, is also very important. Thus we can help the administration of your Family Business Office.
For assistance with all of your estate planning please contact Dennis L. Thomas, CPA, J.D., LL.M. Taxation (dennist@jnmcpa.com) today.
Below are links to one or more articles which may be used for educational purposes:
Estate Planning in the Shadow of the One-Year "Repeal" of Estate and GST Tax in 2010 presented at the 44th Annual Heckerling Institute on Estate Planning, January 26, 2010 by the University of Miami School of Law, Coral Gables, Florida
Basic Advantages and Disadvantages of a Family LLC
