Estate planning goals for high-net-worth individuals is more sophisticated than estate planning for the middle or upper middle class. If you have a high net worth, then the chances are that you want to protect your family's inheritance, while minimizing estate taxes and passing your estate to your family in an orderly conflict free process.
Jeffrey B. Bock has more than 35 years of experience providing estate planning advice and guidance to high net worth individuals. High net worth clients need more than just basic estate planning. Jeff will work with you to develop a custom high net worth estate plan that minimizes your risks and protects your assets.
What Do High Net Worth Estate Planning Include?
- Minimizing Estate Taxes– You can leave your family 11.7 million dollars before you have to pay wealth transfer taxes. For a couple the amount is 23.4 million dollars. However unless the law changes before 2025 the amount will be halved in 2025.
- Planning for Your Business - You may have a business that you manage. Do you have a plan on who is going to manage your business if you cannot? Do you have a buy sell agreement with your partners? Are you prepared to be partners with your partner' spouse and children? Are your children capable of managing your business? If you plan for one child to take over your business, have you made plans for your other children? You need to make plans to bring about an orderly succession and to minimize conflict.
- Planning for Multiple Generations- Do you want to pass along wealth to multiple generations without having the wealth taxed at each generation? Do you want to pass your values to your children? Do you want your children involved with charitable giving? Do you want to set up a foundation. With proper planning you can benefit the charities you are involved with in a manner that also benefits your family.
Contact My Office to Learn More About High Net Worth Estate Planning
To discuss high net worth estate planning in more detail, please call 281-962-8529 in Texas or 561-392-8788 in Florida or request an initial confidential consultation online. During your initial meeting with Jeff, he will discuss your needs and help determine the best high net worth planning strategy for your estate.