Many people and business owners make the mistake of not planning for the future. The price of such procrastination can be heavy. Financial security is sacrificed. Hard-earned assets may end up in the wrong hands. Family businesses may need to be sold to pay estate taxes or treat children equitably particularly if some children are actively involved in the business and some are not.  However, with planning, we can help clients ensure that their plans will be executed, even in the most unimaginable scenarios.

Our estate planning attorneys focus on each client’s unique objectives and work with them to structure estate plans consistent with their goals. We counsel our clients on how to transfer their property to family and friends in a manner that minimizes taxes, avoids or reduces probate costs, and conserves and enhances our clients’ assets for their eventual beneficiaries.

We also help clients be prepared in the unfortunate event of disability.

Estate Business Planning

As part of our full-service approach to estate planning, Scopelitis offers business-planning advice focused on issues ranging from succession plans to future ownership. Our attorneys use many planning techniques to ensure that hard-earned business assets are passed on to future generations. Our experience helping clients in this arena includes:

• Closely-held family businesses
• Limited partnerships
• Limited liability companies
• Partnership agreements
• Insurance trusts

Probate

Probate is the process of gathering the assets of a deceased person, paying valid debts, and transferring ownership of the assets to beneficiaries who are rightfully entitled to receive them. The entire process may be conducted under the probate court’s care, supervision, and protection. Despite the protection probate affords, which may be necessary in some cases, the probate process can be lengthy and expensive. In some cases, family members are denied access to beneficial asset ownership for an extended period. Moreover, the costs associated with the probate process may result in substantially fewer assets, even after a lengthy waiting period. Depending upon clients’ individual needs and desires, we can help avoid probate through planning and careful structuring of estates.

If you have questions about estate planning, please reach out to Scopelitis.