Broker Check

Estate Planning

Estate Protection

You’ve worked hard to build a business for you and your family, but without a plan it remains vulnerable to taxes, inflation and other risks at your death. And there may be family concerns such as equalization of inheritances, special needs children and need for financial management. We can facilitate and simplify the process of developing a coordinated plan of wills, trusts and funding to enable you to rest easy, knowing you have done the best for your family.

Estate Planning

Estate planning is the process of conserving everything you’ve worked for, and assuring an efficient distribution according to your wishes at your death. Your business is probably the largest, most complicated asset in your estate, so planning for your estate naturally includes planning for your business - and vice versa. Unfortunately for many business owners, where there is no estate plan, the Probate Court and the I.R.S. will make a plan for you:

  • Without a will, Massachusetts generally gives ½ the estate to the surviving spouse, the other ½ is split equally among children. Connecticut gives a surviving spouse $100,000 plus ½ the remaining estate, children splitting the balance.
  • Without a will, the Probate Court will determine who will administer your estate, and who will be guardian for any minor children or children with special needs. Your wishes may be ignored. There is no opportunity for charitable bequests.
  • With no planning, an estate that includes a business is likely to incur substantial complications, delays and expenses in probate.
  • With no planning, your estate may be exposed to unnecessary taxation at both state and federal levels. With no planning, an estate may be forced to liquidate assets to pay taxes and other expenses.

We work as a team to develop a comprehensive plan that allows you to rest assured that you have the right tools to protect your family and your business:

  • A plan that coordinates your business succession plan and your estate plan.
  • A plan that manages and distributes your estate as you would wish, including provisions for minors, special needs or charitable bequests.
  • A plan that protects your family by taking maximum advantage of available estate and income tax deductions, exemptions, exclusions and credits.
  • A plan that minimizes probate court involvement with its attendant delays and costs.
  • Our One-Stop approach streamlines and simplifies the process to an understandable, custom-designed plan that truly works for you and your family.

The information provided is not written or intended as specific tax or legal advice. Our employees and representatives are not authorized to give tax or legal advice. Individuals are encouraged to seek advice from their own legal counsel. Individuals involved in the estate planning process should work with an estate planning team, including their own personal legal or tax counsel.