Meet Your Family Wealth Transfer Objectives with Help From an Experienced Huntersville Estate Lawyer
Skilled attorney assisting with multigenerational wealth transfers in North Carolina
Lake Norman Wealth Counsel concentrates on helping North Carolina clients create, preserve and pass on their hard-earned assets. Our careful attention to detail helps clients achieve their personal, financial, business and generational objectives regarding the handling of their wealth. Our Huntersville firm uses proven techniques to minimize income taxes, estate and gift taxes, and generation-skipping transfer (GST) taxes.
Comprehensive estate planning and wealth transfer advice for families
Our firm is recognized for providing practical estate, gift, and income tax planning services to clients, for whom family wealth transfers are often important as well. To help preserve the maximum amount of wealth and minimize taxes on current and future assets, we explore a variety of tools as appropriate for the client’s unique situation. Some of these include:
- Irrevocable life insurance trusts (ILIT), which must be carefully planned because they cannot be modified in any way
- Irrevocable trusts to own business assets that have the potential to appreciate
- IRA trusts to hold your retirement assets for the next generation
- Special needs trusts to provide for any family member who is disabled
- Qualified Terminable Interest Property (QTIP) trusts to provide for a surviving spouse while protecting assets for future generations
We fully recognize that every family’s goals are different, which is why our firm tailors solutions that fit the specific needs of each client.
Considerations for family-owned businesses
Running a business with family can be rewarding, but it can also lead to disputes over control, finances and other aspects of running a company. As a feature of our estate and business planning practice, we help clients discuss and solve for crucial items such as:
- Intra-family loans
- Seller-provided financing
- Self-cancelling installment notes
- Sales to grantor trusts
Our firm can also help you establish a family limited partnership (FLP) or limited liability company (LLC) to organize the family’s assets and reduce uncertainty about who owns what. We are happy to work with clients independently on these issues or to work cooperatively with a banker or investment professional to reach optimal solutions.
Schedule a no-cost initial consultation about family wealth planning
Lake Norman Wealth Counsel in Huntersville, North Carolina is prepared to meet and discuss your wealth transfer goals. A free, no-obligation attorney consultation is a good way to start. To arrange yours, please call 704-727-2026 or contact us online.