We implement strategies, including forming trusts and business entities, with the goal of protecting clients’ wealth from potential third-party liability. Our strategies keep in mind the need for flexibility, along with tax consequences and future changes in the law of asset protection.
Business Succession Planning
We work with family businesses in preparation for and during times of transition. With the goal of preserving the business while addressing the interpersonal relationships of those directly impacted, we develop plans to effectuate transfer of leadership, and to ensure continued operations, through changes expected and unexpected, including retirement and sale of equity interests, as well as unplanned illness or death of corporate officers and other key stakeholders, to help lay the foundation for future prosperity.
Seniors have unique legal needs impacting their finances, health care, and living arrangements. Those needs are often interwoven with complex public benefit laws. When clients are planning well in advance for future long-term needs, we assist in securing funding sources and preserving the future generation’s inheritance. When clients are faced with imminent nursing care placements and daunting payment and benefit applications, we are here to help through the process.
We believe in being proactive for your family and will help you outline your final wishes through legally-binding plans. We prepare wills, trusts, durable powers of attorney, health care directives, revocable living trusts, and irrevocable trusts (such as grantor-retained annuity trusts, spousal limited access trusts, charitable remainder trusts, and more).
Executive Benefits Planning
Our Wealth Preservation team advises high-earning executives and professionals on complicated executive benefit plans such as deferred compensation, split-premium life insurance plans, and retirement plans.
Farm Transition Planning
No one understands farm succession planning like a farmer. Several of our attorneys have personal farming experience and remain active in the farming community. We relate to the complexities of agribusiness and farm family values when the family farm is at stake.
Retirement Asset Planning
You should look forward to a fulfilling retirement, and planning for your legal needs in retirement is key. We carefully plan for future changes in your health, cognitive ability, and wealth during your golden years, and a peaceful future without court intervention.
Our team shares strategies with clients to minimize local, state, and federal income, capital gains, real property, estate, gift, and generation-skipping taxes. We are up to date on the SECURE Act and closely follow pending changes to tax law in Congress and new regulations coming from the IRS.
Trust and Probate Administration
After the death of a family member, we assist clients with the efficient and fair transfer of assets. We regularly appear before probate judges and magistrates throughout northwest Ohio in estate and guardianship matters. Our team of sophisticated paralegals assists with trust reporting requirements, tax filings, deadlines, and asset transfers. We listen to the concerns of family members and work to avoid family conflict.
Is a Transfer on Death Designation Right for Your Small Business?