Law Office of Charles P. Kersch
Tax, Business,
and Estate Planning Specialist
Tax Planning Services
Comprehensive
Tax Planning
Tax laws are complex, and the goal of tax planning is to help you decrease your tax liability as much as you are allowed under federal and state law. Often, even a simple change in tax planning can make a big difference in your tax liability. Whether you are concerned about how taxes may affect your estate or you are worried about your family’s financial future, we can help you develop a tax plan that best serves your interests.
Estate Planning
Deciding what to do with your assets upon your death is a big decision. At the heart of every estate plan is what you hold dearest: children, spouse, life partner, friends, community organization, etc. A successful estate not only provides for your loved ones, but also prepares for the risks, challenges and difficult decisions that may be faced, such as illness, long-term care and death.
At the Law Office of Charles P. Kersch, we take into consideration your tax planning and estate planning needs. Whether you need a simple will, a complex trust, or a power of attorney, we can assist you.
When we help you with your estate planning, we create documents that convey your intentions for your assets after death, identify those responsible for settling any debts and distributing your assets, and express your preferences with regard to your care if you become disabled before death. Typical estate documents include wills, trusts, healthcare and financial powers of attorney, and living wills.
Probate
The stress of losing a loved one can be overwhelming enough, without also having to deal with complex legal issues. The Law Office of Charles P. Kersch team will help you navigate the sometimes rocky waters of probate.
Probate is a court proceeding during which a will is confirmed as valid, debts are paid, and the assets of an estate are administered and distributed according to the provisions within the will. Every will is administered through probate. If there is no will or trust, the law requires an intestate probate, which is similar to a regular probate, but includes some extra procedures.
We can provide you with tools to guide you through probate, such as to-do lists and a system for organizing important documents. We draft the documents that must be filed at court, and go to court on your behalf.
We explain your responsibilities, help you communicate with beneficiaries of the estate, guide you through the creditor process, and help you put together an inventory. In addition, we will offer unlimited guidance on any issue that arises in the process of closing the estate.
Asset Protection
Guarding against litigation, judgments, and liens is the primary goal of asset protection. Engaging in effective asset protection planning can help you protect your assets from creditors such as trusts, partnerships, and off-shore creditors. Asset protection acts as a barrier between you and your creditors and keeps creditors from unfairly collected your assets during a lawsuit.
An important limitation on asset protection is the laws regarding fraudulent transfers. A debtor cannot make a transfer with the intent to hinder, delay, or defraud present or future creditors. If a court determines the transfer was fraudulent, it will set the transaction aside and make the debtor give the assets over to the creditor. Engaging in asset protection planning before you encounter problems with creditors will keep this from happening and will protect your assets.
Your profession, income, assets, and liabilities may influence whether you need asset protection planning. Our attorneys can evaluate your situation and help you determine whether asset protection planning is appropriate for you.
Asset Protection Strategies
There are many strategies available to protect your assets and reduce your tax liability. As part of the planning process, we strategize with clients on the pros and cons of various asset protection techniques to determine the type of approach and structure that works the best for them.
We use the following approaches to help protect our clients’ assets:
• U.S. asset protection planning
• International asset protection planning
• Retirement plans
• Foreign entity planning
At the Law Office of Charles P. Kersch, we can discuss the various asset protection options with you and help you decide which approach is right for you.The
Trust Administration
If you are a trustee, we can help you through the trust administration process. Whether handling a Living Trust following a death, a ongoing Family Trust, or an Asset Protection Trust, we will provide you with customized advice based on the particular trust involved—regardless of whether it was drafted by the law Office of Charles P. Kersch or another firm.
We will give you the tools to organize your important documents and plan your tasks, and will guide you through the process to protect you every step of the way.
Some of the trust administration issues we routinely handle are:
• Advanced and post-mortem planning
• Income tax issues
• Estate tax issues
• Generation-skipping tax issues
• Asset protection trusts
• Special needs trusts
• Familial discord
• Non-family and professional trustees
• Ancillary probates
• Unfunded or partially funded trusts
• Creditor claims, contracts, and other
outstanding debts
• Business entities owned by the trust
• International properties
• Fiduciary liability.
Business Formation
Selecting the right entity for its operations is an important issue for every business. Whether you are starting a new business or investing in an existing business there are many tax and non-tax matters that must be considered. These decisions will affect your liabilities, your taxes, your outlay of assets, and your ability to protect yourself in the future.
When starting any business it is essential to get quality input and advice in selecting the most appropriate entity formation specifically for your business, and your business goals. This will allow you to protect yourself and your business in the future. Unfortunately, the decisions you make at the outset made lock you into certain situations for years, without the ability to make changes.
Proper Choice of Entity Will Help Your Business Optimize Tax Planning and maintain financial security. Our goal as your attorneys is to help you avoid situations that can negatively affect your future.
At the Law Office of Charles P. Kersch we listen to each prospective client and learn how their business works, as well as their specific goals. We then determine the appropriate organizational model for each client to ensure they are choosing the best type of entity to allow their business to succeed and to protect their investment from the start. We believe it is at this critical stage where a business can put itself on a path to success and minimize risks to maintain financial security.