Wealth Transfer Planning
Wealth Transfer Planning involves the preparation of estate and financial plans including the use of Revocable Living Trusts, Durable Powers of Attorney, family asset management tools including Family Limited Partnerships and LLCs, family offices, Insurance Trusts, charitable and gift planning including Private Foundations and lifetime gift planning including multi-generational transfers to minimize estate tax for future family members.
An important aspect is choice of entities, restructuring of business entities and business ownership and management succession planning, Buy-Sell Agreements and sale of business assets.
Carnahan Evans is devoted to assisting clients in planning of succession for passing of wealth including active business assets downstream to the next generation and structuring transactions to minimize application of estate, gift and income taxes. Certain situations require Special Need Trust planning, as well as Social Security and Medicaid issues.