For many of our clients, a Foundation Estate Plan does not address all their planning needs. For example:
We counsel clients concerning the proper ownership of their life insurance policies, and many decide to establish Irrevocable Life Insurance Trusts (ILITs).
Family Limited Partnerships (FLPs) help clients gain control over and manage their investments and properties, while providing significant asset protection and tax advantages.
Clients who own small businesses may need to develop a business succession plan. Effective planning may involve buy-sell agreements, redemption agreements, corporate recapitalizations, life insurance and creative financial arrangements.
We show clients how to protect themselves against unwelcome surprises. Clients in high-risk occupations may feel a need for asset protection trusts and other planning to shield themselves and their families from litigation or catastrophic loss, while ensuring that they will have the ability to start over if a loss should occur.
We guide clients who are motivated by charitable concerns through charitable planning to find the best way to accomplish their philanthropic goals with the means they have available.
For clients who have a child with special needs, establishing a special needs trust may be a high priority.
Multi-generational or "dynasty trust" planning can safeguard and promote the growth of family wealth for many generations.
A word of caution is important. Advanced Estate Planning techniques and tools are very powerful. As with all powerful tools, it is important to know how to use them and when their use is appropriate. When used in an inappropriate situation or when used in the wrong way, they can cause great harm.
Please contact us by telephone (401-331-5050) or use our online consultation request to find out how we can help you address your Advanced Estate Planning objectives and concerns.
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Our offices are located in the Samuel Staples, Jr. House on historic Benefit Street in Providence. We serve clients throughout Rhode Island from Newport to Woonsocket to Westerly and in southeastern Massachusetts.
Towns and cities served in Rhode Island include Barrington, Block Island, Bristol, Burrillville, Central Falls, Charlestown, Coventry, Cranston, Cumberland, East Greenwich, East Providence, Exeter, Foster, Gloster, Hopkinton, Jamestown, Lincoln, Little Compton, Middletown, Narragansett, Newport, New Shoreham, North Kingstown, North Providence, North Smithfield, Pawtucket, Portsmouth. Providence, Richmond, Scituate, Smithfield, South Kingstown, Tiverton, Warren, Warwick, Westerly, West Greenwich, West Warwick and Woonsocket.
Towns and cities served in Massachusetts include Attleboro, Dighton, Mansfield, Norton, North Attleboro, Plainville, Rehoboth, Seekonk, Somerset, Swansea and Taunton.