Advanced Estate Planning

High net worth clients with substantial assets may need advanced estate planning strategies to avoid having their estates eroded by federal and state taxes.

The Trust Law Legacy Group, APC regularly assists affluent clients with sophisticated planning tools as Family Limited Partnerships or Limited Liability Companies, Personal Residence Trusts, Irrevocable Life Insurance Trusts and a wide range of charitable gifting techniques to reduce Federal Estate Taxes, Gift Taxes and Generation Skipping Transfer Taxes.

Family Limited Partnerships
A Family Limited Partnership (FLP) is a form of a limited partnership among family members. Among the advantages of a FLP include estate and gift tax savings as well as asset protection. An FLP also allows you to retain control over the transferred assets.

Qualified Personal Residence Trusts
Another sophisticated tool utilizing your house or vacation home. A Qualified Personal Residence Trust or a QPRT allows you to give away your house or vacation home at a great discount, freeze its value for estate tax purposes, and still continue to live in it. Speak with one of our attorneys to see if you take advantage of this advanced estate planning strategy.

Irrevocable Life Insurance Trusts
An Irrevocable Life Insurance Trust is an advanced estate planning tool created for the purpose of owning your life insurance policy. A properly established and administered trust holds the policy outside of your estate and keeps the proceeds from being taxed to your estate. The payout from the insurance policy can then be used to provide your estate with the liquidity to pay estate taxes, pay off debts, pay final expenses and provide income to a surviving beneficiaries.

With offices in Fremont and San Jose, California, and Metro Manila, Philippines, the attorneys of the Gervacio Denda Law Firm assist clients throughout California including Santa Clara, Los Gatos, Saratoga, Cupertino, Sunnyvale, Milpitas, Mountain View, Castroville and Marina in Santa Clara County, Monterey County and San Benito County.