Wealth PlanningOverviewEstate and wealth planning can raise sensitive issues. Our lawyers act as both legal advisors and trusted counselors, helping clients leverage financial and legal tools to achieve their personal, family, business, and charitable goals. Michael Best provides guidance on income and estate tax planning, business succession planning, financial planning, asset protection planning, risk management, and retirement planning. Our clients, who come from diverse backgrounds and situations, include executives, private investors, family trusts, closely held business owners, and philanthropists. We look at the big picture of each client’s overall financial planning, often working with their accountants, investment managers, and other professional advisors. Our plans are designed to be flexible, and we assist clients in adapting and responding to unforeseen family and business issues, economic conditions, and ever-changing tax laws. ExperienceWe have extensive experience across all dimensions of wealth transfer, asset protection, and estate planning matters. Our work includes the following areas:
Tax and Estate Planning
- Asset protection
- Wills
- Living trusts
- Testamentary trusts
- Gift and estate tax preparation
- Individual income tax preparation and planning
- Fiduciary income tax preparation and planning
- Generation-skipping trusts and tax planning
- Qualified personal residence trusts
- Grantor retained annuity trusts
- Trust administration
- Family limited partnerships, LLCs, and other corporate structures
- Intra-family sales
- Minimization of transfer taxes
- Changes of residency planning
Family Business Succession Planning
- Transition to next-generation owners
- Formation and maintenance of corporate entities
- Shareholder and buy/sell agreements
- Recapitalizations
- ESOPs
- Qualified Subchapter S trusts
- Electing small business trusts
Charitable Planning
- Income tax implications
- Charitable remainder and lead trusts
- Family foundations
- Donor-advised funds
Contested Matters
- Tax audits and litigation (federal and state)
- Will contests
- Trust litigation
- Estate and trust accountings
Insurance Planning
- Irrevocable life insurance trusts
- Split-dollar plans
- Beneficiary designations
- Analysis of life, disability, and long-term care insurance
Marital Property Planning
- Pre- and post-marital agreements
- Titling of assets
Elder Law/Disability Planning
- Governmental benefits
- Special needs trusts
- Long-term care planning
- Property powers of attorney
- Healthcare powers of attorney
Retirement Planning
- Qualified and nonqualified retirement plans
- Deferred compensation
- Retirement distribution planning
- Stock option issuance and exercise
Related People Preview Attorney's BiographyJoseph focuses his law practice in the area of wealth planning for businesses, organizations, and individuals. He counsels clients on matters involving wills, trusts, estates, powers of attorney, and marital property agreements. Joseph also assists clients with tax planning, business succession planning, charitable planning, and other related considerations.  Preview Attorney's BiographySarah works with clients from varied family and financial backgrounds on estate planning, business succession, and trust and estate administration matters. The foundation of her practice is the strong relationship she forms with her clients. She has the ability to make estate planning techniques easy to understand and difficult or sensitive topics easier to discuss. Her clients trust her for confidentiality as well as sound advice.  Preview Attorney's BiographyJulie’s outstanding track record is built on successful outcomes in legal matters related to estate planning, trust administration, and probate. Clients rely on her sound judgment regarding lifetime planning, as well as the administration and distribution of assets at death. Luke A. Johnson* *Names that appear with an asterisk indicate a Michael Best professional not admitted to practice law.  Preview Attorney's BiographyBrad’s practice includes all areas of estate and business succession planning. He serves as a trusted advisor to individuals, families, and companies seeking to cost-effectively structure or transfer businesses. Clients value Brad’s responsiveness, particularly his ability to help them understand complex property and tax law concepts.  Preview Attorney's BiographyAmy has more than 20 years of experience in helping clients achieve their estate planning, business planning, and financial planning goals. She works closely with businesses and individuals to craft customized plans that preserve and grow their assets.  Preview Attorney's BiographyPhil has more than 20 years of experience assisting individuals with estate, wealth, and business succession planning and helping businesses with corporate and real estate matters. As an estate planner, Phil knows that transferring wealth effectively requires the preservation of family relationship. When advising clients and their families, he devotes significant time to communicating with members of each generation. He strives to develop practical plans that carry out his clients’ wishes and minimize taxes, while also providing the flexibility needed to address unforeseen circumstances. Preview Attorney's BiographyAs a Paralegal with Michael Best, Amy assists the firm’s attorneys and clients with a range of business and transactional legal matters. She focuses primarily on corporate and governance issues for both start-ups and established companies, including nonprofit organizations, as well as wealth planning and estate administration matters.  Preview Attorney's BiographyWith more than ten years of experience with businesses ranging from a regional accounting firm to a Fortune 500 company, Katie brings a strong and diverse background in financial accounting and tax compliance to her role with Michael Best. Clients benefit from her broad experience in tax, family office, and related services to high net worth families and individuals. Katie R. Petroske* *Names that appear with an asterisk indicate a Michael Best professional not admitted to practice law.
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