Estate Planning for High Net Worth Individuals
For most people, simple estate planning documents, such as online wills and those prepared by a local general-practice attorney, are sufficient. I offer these services at the request of my clients. However, the majority of my estate planning practice consists of cases where a simple will is not enough.
I am attorney Rob Frank in Lewisburg, West Virginia. I represent clients in the creation and litigation of large and complex estates. You need more than a simple will when you:
- Have an estate of significant value (assets over one million dollars)
- Own a small business, professional practice or farm
- Wish to avoid or mitigate a significant tax liability
- Have retirement funds and insurance policies that will or may be paid into the estate
- Have complex family relationships, such as multiple divorces or children from a first and a second marriage
- Have concerns regarding the effect of disability or medical care on an estate
If you have a large or complex estate, you need a lawyer who is capable of evaluating the size and nature of your estate, understanding your wishes regarding your estate, providing you with estate planning options, working with your tax and financial planning professionals to determine the best possible plan, and advising you of the potential tax and legal impact of all your estate planning options.
In these cases, your estate planning attorney must consider not only a will, but planning vehicles, such as:
- Revocable living trusts
- Charitable trusts
- Asset protection trusts
- Trusts to avoid gift taxes
- Qualified terminable interest property trusts
- Irrevocable life insurance trusts
- Generation-skipping trusts
As your estate planning attorney, I will use a team approach to plan your estate. Prior to meeting with you, I will ask you to prepare a detailed questionnaire regarding your estate and your wishes regarding your estate. Then, we will sit down and have a detailed discussion regarding your estate, your estate planning needs, and the potential options available to you.
After this meeting, I will, with your permission, discuss your estate planning options with your financial and tax advisors and with very experienced estate planning attorneys nationwide. I will then prepare and discuss a proposed estate plan with you. After you have discussed our plan with your advisors and tax and financial professionals, I will execute the documents necessary to set your plan in place.
Upon your death, I will remain available (at a suitable fee) to your heirs and loved ones to assist in the administration of your estate plan.
Contact Lewisburg Estate Planning Lawyer Robert Frank
For more information or to schedule a consultation, call me, West Virginia estate planning attorney Rob Frank, at 304-574-8340 or fill out the contact form on this website.