We help preserve your legacy beyond the time of your immediate life. When proper planning was not done or a dispute arises, we help preserve your legacy, assets, business, and estate.

Estate Planning

Our clients rely on us to help them make prudent business, financial, and personal decisions and we take that responsibility seriously. We work closely with our clients on the best and most cutting edge strategies for wealth preservation and protection. Our goal is to develop an approach which best serves our clients’ needs in a cost-effective manner, including minimizing state and federal tax burdens to assure that assets pass to the intended beneficiaries.

Whether you are looking for a will, power of attorney, or health care proxy, or require more sophisticated planning involving the use of living trusts, we are here to advise, plan, and help you realize your personal and financial goals..

Some of the tasks involved in estate planning include:

  • creating a will or living trust
  • naming an executor of the estate
  • establishing guardians for dependents, if necessary
  • setting up durable power of attorney for financial and medical decisions
  • creating a healthcare directive
  • naming of beneficiaries on insurance policies

The legal team at Law & Stein will be able to provide you with the guidance necessary with respect to ensuring that all of your documents are properly prepared. They understand the importance of preparing for the future whether it involves drafting a will, establishing a trust, or annual gifting to help reduce your taxable estate.

 

Trust Administration

The duties of a trustee are complicated and numerous. At Law & Stein, LLP we offer legal counsel to trustees or to trust beneficiaries to ensure that all legal duties are properly carried out. Regardless of the type of trust, we can handle even the most complicated matters with skill and efficiency.

Our experienced trust attorneys at Law & Stein understand what an important role this is. We have the legal experience to understand all the ramifications, and the empathy to help you make the best choices.

Trusts are created for several reasons — to protect assets, to dispose of an estate, to ensure that assets are used for a specific purpose such as the continued care of a special needs or disabled individual or for tax planning.

Trust administration usually begins upon the death of the settlor and can be a complicated process. At Law and Stein, LLP, we have extensive experience in administering all types of trusts and can assist the trustee with any legal decisions that are involved in settling the trust.

Because we are also well versed in tax and estate planning, we can explain how each portion of the trust operates, and what your options are.

Probate

Probate is the court proceeding that proves the validity of a Will and through which an estate is administered. Through the probate process, estate assets (assets of the deceased) are collected and, after expenses and taxes are paid, distributed to heirs. Law & Stein, LLP efficiently moves an estate through the probate process. We also work with clients on strategies for avoiding probate.

At Law & Stein, we understand that this can be a difficult and stressful time for all involved in the probate process. Our team of experienced attorneys will work diligently to make certain that your case is properly handled in order to expedite the process.

The probate process involves four basic steps:

  • Filing of the petition with the probate court, and then appointing an executor or an administrator if there is no will
  • Written notice is given to all the creditors of the estate and an inventory is taken of all the probate property
  • All of the estate and funeral expenses, debts and taxes are paid from the estate
  • Legal title in property is transferred according to the will or state intestate succession laws

All of our attorneys have expertise in both state and federal laws and can provide our clients with legal advice and services throughout every step of probate.

In addition, we can discuss strategies to help you avoid probate by establishing a revocable living trust, for example.

Tax Planning

Tax planning is an evaluation of an individual’s or business’s financial situation with respect to taxes. The purpose of having a tax plan is to maximize your “tax efficiency” by working to minimize your tax liability. There are a variety of ways to minimize tax liability; some common options include tax-efficient mutual funds, irrevocable trusts, charitable funds, municipal bonds, and traditional/Roth IRAs.

Law & Stein’s attorneys are highly experienced with respect to assisting clients in the development and implementation of pertinent strategies for reducing and/or deferring any current or future tax obligations. At Law & Stein we work closely with our clients and their financial advisors in order to provide judicious tax planning with the most cost-efficient solutions.

Tax laws can be complicated and are constantly evolving. Therefore, it is very important to take the following into consideration when a devising tax plan:

    • short and long-term financial goals
    • the choice of investments/retirement plans
    • the cost benefit of your tax planning options
    • your filing status with respect to deductions, exemptions
    • maintaining tax compliance

Our attorneys provide expert counseling and advice to our clients on a wide range of tax needs, including both federal and state tax planning, in order to find the best solutions to reducing tax liability while maximizing tax efficiency.

Tax Controversies

Our attorneys handle a wide variety of estate planning, probate, and tax planning matters. We understand how stressful and complicated disputes with the IRS can be, whether the dispute involves personal or business taxes. We have the resources, knowledge, and skills to guide you in finding solutions in a timely and cost-effective manner.