Are You Concerned About What Happens To An Inheritance If An Heir Gets Divorced?
According to the National Marriage Project, the most recent data shows that the probability that a first marriage will end in divorce or separation is 40 to 50 percent. And, each year many frivolous, as well as potentially successful lawsuits, are filed against people just like you (and your heirs). However, just as there are strategies and techniques to legally minimize taxation, there are equally powerful tools for protecting your heirs from divorce, as well as creditor claims and lawsuits against them. These techniques and tools can be used now to protect lifetime gifts to your heirs or can be established under your will to give your children and grandchildren not only tax protection but also a higher level of protection for lawsuits and divorce.
Unruh, Turner, Burke & Frees has experienced Pennsylvania will and trust attorneys who work hand in hand with you on estate planning, trusts, and estate administration. Our Trust and Estates Section has an emphasis on asset protection trusts and the process of passing on a LEGACY, including family values, and knowledge about finances, investment, business, education, and other topics of importance to your family. We also prepare estate plans and asset protection planning that often use wills, trusts, powers of attorney, and medical powers and directives.
Concerned About Avoiding Family Disputes And Having A Valid Plan That Carries Out Your Wishes?
Our proprietary process, Enhanced Estate Planning™ allows you like a single or married person, as parents or grandparents, to carefully and strategically plan your estate, to educate the next generation, and to protect assets from delays, costs, and creditors claims.
We have assisted thousands of individuals with the following matters:
- Administering Estates and Trusts
- Avoiding or Dealing with Probate and Executors Fees and Duties
- Estate Planning with Wills, Trusts, and Related Tools and Strategies
- Divorce Protection for Your Heirs, Children and Grandchildren
- Private Charitable Foundations
- Family Foundation(s) and Donor Advised Funds
- Grantor Retained Annuity Trusts (GRAT)
- Qualified Terminable Interest Property (QTIP)
- Irrevocable Life Insurance Trust (ILIT)
- Qualified Personal Residence Trust (QPRT or QPERT)
- Asset Protection Planning of Many Types
Many of the clients that work with our attorneys are surprised to find that the process of estate planning and asset protection can be incredibly interesting and some have described it as "fun" and as "fulfilling." As a client, you are able to implement planning strategies from one generation to the next. We take pride in our strong and lasting relationships with our clients. Contact the office at (610) 933-8069 to see if you qualify for a free consultation.
Have a legal need other than a will, trust, or estate? We make sure that you get the best representation either within the firm or by referral to other counsel.
Want To Protect Your Assets From The High Cost Of Long-Term Care?
Building your net worth can take years and it is crucial that you take precautionary steps to protect your assets (for yourself AND your heirs). Elder Law asset protection provides additional security against creditors, claims, lawsuits, and exposure to the high cost of in-home or nursing home care. There are many techniques available to protect your property and assets. These methods for asset protection are generally only successful if done properly. A knowledgeable Pennsylvania asset protection lawyer can help you with your asset protection plan. This section also often works with lawyers and partners in the business section of the firm who can assist you with related corporate and business organizational issues.
Worried About Death Taxes?
Every year, millions of dollars are spent on the federal estate tax, according to published figures from the Internal Revenue Service. But many of these taxes are incurred by families that just do not know the strategies to legally minimize or avoid such taxes and the similar taxes and probate fees imposed by many states.
Yes, there are ways to minimize the amount paid for estate tax and generation-skipping transfer tax, which will help eliminate the burden placed on heirs and estate owners. Furthermore, many inheritances, after depletion by such taxes and related costs, are then lost in personal or business litigation, or in divorces.
Executor, Trustees & Probate
Administering an estate (or a trust) can be an overwhelming responsibility, especially when problems arise. And most executors and trustees don’t know that they can be held personally liable. We assist executors and trustees to help ensure an effortless transfer of assets and to minimize the tax and personal liability exposure. When complications arise, we offer our expertise to limit liability exposure to beneficiaries and creditors and can successfully administer wills and trusts in probate court. Whenever possible, we help to resolve or close estate and trust administrations through informal family settlement agreements or if necessary, through the court accounting process.
