Estate Planning, Trusts & Estates, Elder Planning & Asset Protection
Due to recent changes in the estate tax and Medicaid laws at both federal and state levels, it has become more important than ever to work with estate & elder planning lawyers who understand the ins and outs of the tax and Medicaid laws. Whether your estate is a few hundred thousand dollars or multi-millions, you should have an estate and asset protection plan designed to avoid probate court, eliminate unnecessary exposure to liabilities (including tax and nursing home liabilities), qualify you and your family for available benefits and pass your estate to the next generation in the most efficient manner possible, all while avoiding family disagreements. With a properly executed plan, questions are eliminated and answers become clear.
We Are Here For You
At Vieira & DiGianfilippo Ltd.,
our attorneys and paralegals know the laws and are committed to helping our
clients preserve their legacy of financial security for future generations.
We will help minimize estate taxes, administrative fees and court costs,
qualify for benefits, maximize your family’s protection from divorce,
creditor and nursing home claims and - most importantly- give you peace of
mind. We may not know what tomorrow will bring, but with a well-designed
and implemented estate and asset protection plan, you can be certain that
your dependents, family and estate will be protected and taken care of the
way you want them to be.
Our Strategies Are Diverse and So Are Our Clients
Estate
planning and asset protection strategies are client specific. Strategies
that work for key executives of large companies or disabled individuals may
or may not be appropriate for the owner of a family business, the venture
investor, the retiree worried about losing his assets to nursing home expenses,
young parents desirous of providing a future for their children, or
individuals in a second marriage or a long-term relationship situation. Personal
issues influencing planning also may include children of different ages or
circumstances, family members suffering for disabilities or other incapacities,
the desire to preserve a family vacation home, the intention to maintain
a tradition of charitable giving or the family’s particular exposure
to divorce or other liability claims. Clients in different stages of their
lives have different wealth and asset planning concerns. We have the ability
and the know-how to ensure planning needs are satisfied.
Our Extended Family
Our goal is to ensure that every client feels comfortable with his or her
representation. Working by our sides are skilled paralegals and accountants
who understand and value the confidential relationships surrounding complicated
family and personal issues. In addition to drafting estate planning documents
and settling estates, we provide a full range of in-house tax services, including
tax return preparation and filings and tax advice designed to minimize estate
and gift taxes by utilizing all available discounts, deductions and credits.
We work closely with accountants, financial planners, insurance agents, and
professional appraisers of business interests and real estate. We have long-standing
relationships with substantial public charities and private foundations with
respect to ongoing administrations and complex transactional matters. With
all of our close-knit relationships, our clients can be confident that their
family wealth can be preserved.
More to Estate Planning Than Just A Will
Although wills and trusts remain essential, estate planning is no longer
limited to these standard documents. It encompasses related areas such as
the impact of generation-skipping tax, income tax, employee benefits, business
planning, charitable giving and so on. Whether your estate is modest or substantial,
we can establish vehicles that will provide financial support to children,
grandchildren and future generations.
Delays Can Be Avoidable
Estate settlement is extremely important.
It often takes six to eight months to settle the estate of an individual
who has died without a taxable estate and between fourteen months and two
years to settle the estate of an individual who has a taxable estate requiring
the filing of federal and state estate tax returns. Our forte is to make
certain that a decedent's assets are distributed in accordance with his will
and/or trust or if he dies without a will and/or trust to make certain that
the decedent's property is distributed in accordance with the state's laws
governing intestacy as quickly and efficiently as possible. And
we always do our best to position our estate planning clients so that they
avoid Probate in the event of incapacity or death.
Involuntary Philanthropy... Estate Taxes
Continuing changes in tax laws at both state and federal levels have
made estate planning and estate administration increasingly complex. President
Bush's Economic Growth and Tax Relief Reconciliation Act has impacted the
tax laws. Changes in exemptions and lowered tax rates began in 2002, but
more substantial benefits have been postponed for several years. The complete
estate tax repeal is targeted for 2010, but gift taxes will remain in effect
and estate taxes may return in 2011 with a lower exemption than is now
in place. Moreover, irrespective of the future of the federal
estate tax, Rhode Island and Massachusetts now have their own independent
estate taxes, with substantially lower exemptions than the federal exemption. These
state-level taxes alone are significant enough to warrant planning, and the
planning must be specially coordinated to work with the federal tax. Thus
estate and gift planning over the next few years is likely to become more
complicated. For this reason alone, our attorneys, many with decades of experience,
have invested considerable time studying the tax law changes and analyzing
the implications of these changes.
We Go Above and Beyond
Our Trusts & Estates Attorneys
have bar memberships in Rhode Island, Massachusetts and Florida, and they
have extensive knowledge of state and federal laws. We are able to provide
or obtain representation far beyond the client's home state and serve clients
with assets in various locations. There are times when it is up to us to
determine if probate court proceedings are required. Families need experienced
and sensitive counsel during difficult times. Our goal is to counsel the
client in complying with all legal and related aspects of their personal
situation.
Become One of Our Clients
The Trusts & Estates Group
welcomes questions and inquiries about our capabilities and services.