Wealth & Estate Planning

KJK’s Wealth & Estate Planning Practice Group believes in utilizing a team approach, involving our team with a client’s accountant, financial advisor, insurance agent and other professional advisors in a concerted effort to achieve the client’s overall planning objectives. We assist individuals and businesses with a variety of matters ranging from the basic estate plan for parents to more complex arrangements for business succession and the transmission of wealth to younger generations with minimal tax implications.

We offer a variety of estate planning services such as family estate planning, high net worth tax avoidance planning, charitable giving planning, business succession planning, asset protection, and special needs planning.

Focus Area

Family Estate Planning

Planning for the future, especially a future that may not include you, can be very stressful, but having an estate plan in place, particularly if you have children, is of the upmost importance.  KJK can help alleviate this stress and ensure our clients’ family is cared for, no matter what the future holds.  Our attorneys and staff are well versed in establishing estate plans for young, growing families.  When the clients’ primary goal is providing for their children after they’re gone, we know exactly what mechanisms to use to meet their needs.  We can draft pour-over wills, revocable trusts, powers of attorney for finance and healthcare, and advance directives (living wills).  We can provide everything parents need to ensure their children are taken care of after they’re gone.  To that end, we offer the Family Estate Plan Package at a fixed fee, which includes the following:

Tax Avoidance & Complex Planning

Those with high net worth have a lot at stake when it comes to estate planning.  Not only do they need to plan for the care of their family in the future, they also need to consider the tax implications they face.  There are many factors involved in crafting an estate plan that allow the clients and their family to personally maintain as much of their wealth as possible.  The members of our wealth planning group are able to apply a variety of sophisticated planning devices designed to preserve and protect a family’s assets while minimizing the income, estate, gift and generation skipping transfer taxes associated with the lifetime and/or testamentary transfer of wealth. Our experienced attorneys can employ advanced tax minimizing techniques such as installment sales to intentionally defective grantor trusts, grantor retained annuity trusts (GRATs), irrevocable life insurance trusts (ILITs), qualified personal residence trusts (QPRTs), limited partnerships and limited liability companies.

Charitable Giving

Charitable donations do not need to cease upon the client’s death.  We can help clients continue to support their most important charities through their estate plan.  In fact, charitable giving is often an important component of a client’s overall estate plan. We assist our clients with the integration of their philanthropic objectives in their overall estate plan while achieving the maximum income, gift and estate tax benefits through the use of direct charitable gifts, charitable gift annuities, bargain sales and charitable lead and remainder trusts. Our attorneys are also experienced in the formation and management of private foundations and supporting organizations, with many of our attorneys serving as officers and directors for these charitable organizations.

Business Succession Planning

Clients who own a business need to ensure the success of their business outlasts them.  To do this, it’s necessary to have a thorough succession plan outlining who will run the company, how to handle stock, and how the day-to-day aspects of the company should be handled.  When the key member of a company passes away without creating a succession plan, the future of the company is unpredictable at best.  A succession plan for our client’s business is just as important as the client’s personal estate plan.  Our attorneys understand the concerns of business owners, and apply a multidisciplinary approach to preserve our clients’ wealth and assets and to protect their long-term interests. We provide integrated succession planning to corporate and closely-held business clients through the use of buy-sell agreements, stock voting trusts and employee stock ownership plans (ESOPS), being sure to integrate the succession plan with the business owner’s estate plan, so as to minimize income, gift, estate and generation skipping transfer taxes on the transfer of the client’s business.

Asset Protection

With today’s litigious society, asset protection planning is becoming more and more important for a great many of our clients. Clients in “high risk” industries – such as doctors, accountants and attorneys – are particularly in need of asset protection as lawsuits are not uncommon in their careers.  However, asset protection is not just for those “high risk” clients.  Possibly the most overlooked client in need of asset protection are business owners and those who sign personal guarantees.  Our attorneys give the guidance that individuals, families and business owners need in understanding the potential risks.  We then design creative asset protection strategies to guard against these potential liabilities. The techniques we use to establish a wall around a client’s business and/or other assets include homestead and other statutory exemptions, equity-stripping, and domestic and offshore asset protection trusts.  To that end, we offer, along with other asset protection services, an asset protection package for a fixed fee, which includes the following:

Special Needs Planning

Families with special needs children and/or relatives face many unique challenges, which must be considered when crafting their estate plan.   It is important to ensure special needs family members are thoroughly taken care of and will still receive the care they need.  Our attorneys and paralegals have years of comprehensive experience and are skilled in providing kind and compassionate assistance to those families forced to deal with the often devastating legal effects of disability and death. We provide complete and comprehensive guardianship, estate and trust counsel, including fiduciary litigation services and advice on all matters connected with estate and trust administration and accounting.