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After confidential counseling sessions with you, the attorneys of the Vose Law Firm will design, establish, implement, supervise, and maintain your estate plan and your plan’s funding, which allows you to: |
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The attorneys of the Vose Law Firm provide sophisticated asset protection legal services. But exactly what is asset protection? Asset protection has many faces. |
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Have you ever wondered how American Royalty, (the Rockefellers, Carnegies, DuPonts, Kennedys, Fords, etc.), managed to pass on their immense wealth from generation to generation while sheltering it from estate tax, creditors and probate? The strategies used by those famous families are available to the selected clients of the Vose Law Firm |
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The mention of “offshore trusts” and “offshore investments” can create visions of exotic locales, numbered bank accounts, mysterious meetings, and secret passwords. There might be some small bit of reality in those visions, but there are practical and financially sound reasons that many wealthy Americans use offshore trusts and make offshore investments as a part of a well thought out asset protection/estate plan.
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A family limited partnership (FLP) can be one of the most useful and successful asset protection and estate planning tools. There are two huge advantages in using FLPs – they are a nightmare for predators and creditors, and they can reduce tax liability. Your own FLP can reduce the value of your estate for gift tax purposes and estate tax purposes and reduce your income taxes, while allowing you to have full control of the assets, day-to-day operation, managerial administration, distributions, and investments held in the FLP. |
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We all know of families in which a grieving widow or widower with young children makes a poor choice upon re-marriage. The wealth of the deceased spouse, which should have been used to provide for the children, can be frittered away by a new spouse. That new spouse may even then divorce and walk away with half of what was left of the deceased spouse’s assets.
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A Dynasty Trust is a complex tool that can effectively eliminate estate taxes, avoid probate, and provide effective asset protection and creditor protection for your heirs, while at the same time allowing investment opportunities and access to income and principal of the trust. Properly created, a Dynasty Trust can also include conditions that limit the likelihood that a wayward heir could jeopardize the passing of wealth on to future generations. |
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When you think of charities you probably think of helping the less fortunate members of our society, whether it is the ill, the poor, the disabled, the abandoned, or the victims of a disaster. Of course there are religious charities, charities to aid animals, charities to preserve the environment, and any number of other not for profit organizations, including family foundations, which could be your own family foundation. |
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Qualified Personal Residence Trusts (QPRT, pronounced “Q – pert”), can be used to substantially reduce estate taxes, leverage the applicable estate and gift tax exclusion amounts, and preserve control for the trust maker for a specified term of years. In Florida, it even gets better. The trust maker keeps the unlimited constitutional homestead exemption from creditor claims, and the maximum homestead tax exemption for the trust maker’s primary residence. |
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