Estate planning encompasses a wide variety of steps an individual can take during lifetime to simplify, and reduce taxes on, the transfer of assets to successive generations.
These steps include:
· Preparing Wills, trusts, powers of attorney and health-care directives
· Structuring investments to save estate and other taxes
· Planning for the sale or transfer of a business
· Protecting assets from the claims of creditors
· Forming private trust companies and family offices
· Incorporating retirement benefits and insurance into an estate plan
· Tax planning for international investments and non-U.S. family members
· Addressing the special tax issues affecting entrepreneurs, corporate executives and hedge-fund and private-equity professionals