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Financial
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| Advantages of
using The Andersen Firm
over other law firms. |
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| Advantages |
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Testimonials |
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| At The Andersen
Firm, we strive to fulfill our clients needs to the best of our potential.
See what our clients are saying about us! |
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FAQ's |
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for your future and the future of your family isn’t easy. We have answers
to the most commonly asked questions. |
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In
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Trust Administration Services |
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The administration of a grantor’s trust can be a complex procedure and one that may be confusing to the Trustee and beneficiaries.
At the Andersen Firm, we alleviate many of the burdens that a Trustee may face by managing
every facet of the administration. Our Trust Administration process includes filing all
necessary documents, evaluating any opportunities to minimize tax liabilities, working
to preserve assets and initiating procedures to avoid any Trust Litigation.
Advanced Techniques for Estate Planning
- Qualified Personal Residence Trust (QPRT)
The QPRT allows you to move your primary or secondary residence out of your taxable estate while still allowing you to retain complete possession and use of the residence. After your passing the home is then transferred to your intended beneficiaries. This technique, while effective at reducing your taxable estate, can become complicated if you wish to sell the property in the trust.
- Build Up Equity Retirement Trust (BERT)
The BERT is a tax sheltered irrevocable trust that is set up by each spouse for the benefit of the other spouse. Gifts are made to the trust annually and, while still accessible, the assets are exempt from gift tax and estate tax. Also, because the trust is irrevocable the assets are protected from creditors and predators. Then upon the spouses death the assets are passed on to intended beneficiaries.
- Irrevocable Life Insurance Trust (ILIT)
The irrevocable life insurance trust or ILIT is a special type of trust, that holds and is the beneficiary of, a special type of insurance. This insurance inside this trust is guaranteed level premium, guaranteed benefit and can be placed on the life of one spouse or both spouses. The payout from the policy is not estate taxable and is specifically earmarked to pay the estate taxes.
- Limited Liability Companies (LLC)
An LLC is a business entity formed under the laws of specific states and is commonly used for estate compression for tax purposes and asset protection. Shareholders or “Members” of the LLC cannot be personally liable for the debts of the LLC. Also, the assets that are owned by the LLC can be “compressed” and used for wealth transfer.
- Grantor Retained Annuity Trust (GRAT)
A GRAT is an irrevocable trust in which the grantor transfers assets into the trust and retains the right to annual payments of a fixed amount of principal and interest for a prescribed number of years at the end of the period the assets go to the beneficiaries in accordance with the grantors intentions.
- Inheriting Trust
An Inheriting Trust is a special type of dynasty trust that is designed by the inheritor to receive an inheritance. The trust offers greater asset protection and estate tax planning while still giving the inheritor all the rights, benefits and control over the trust property that the individual would have through outright ownership.
- IRA Inheritance Trust (IRAIT)
Eventually we are all going to pass on to our greater glory. It is how we are remembered by those who loved us and knew us that keep us alive forever. With the IRA Inheritance Trust a check will be coming to your beneficiaries with your name on it for their benefit every quarter. This will be part of your legacy.
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