Studies show that 55 percent of Americans die without a will or an estate plan. Some people try to write their own will or power of attorney. Experience has shown us that do-it-yourself plans may actually be worse than doing nothing, resulting in dire consequences like family-owned businesses falling apart after a key person's death, an ex-spouse inheriting assets or special-needs children receiving assets and losing access to government benefits. Clear legal advice regarding business, personal estate and tax planning allows you to prevent these unintended consequences and structure your estate plan so your wishes are realized, while keeping an eye on the long-term legal and tax implications of those decisions.
At Herzog Crebs LLP, our experienced St. Louis estate planning and wealth management attorneys can offer you comprehensive assistance with these matters. We take every client's estate plan seriously, regardless of size or complexity, and our estate planning attorneys will work with other departments in our firm to ensure that your assets, whether they are a business or a house, are taken care of. Our attorneys remain up to date on the changing laws involving transfer taxes at both the federal and state level, the taxation and treatment of retirement plan assets during life and at death, and state and local probate law, all to better serve our clients and provide up-to-date and timely advice.
Our attorneys see estate planning and tax planning as inextricably intertwined, especially for individuals with significant assets, including business ownership. We assist our clients in planning for the orderly growth and transition of their assets, handling a wide range of matters such as:
- Drafting wills, revocable trusts, health care powers of attorney, financial durable powers of attorney and living wills
- Family limited partnerships and inheritance tax planning
- Business succession planning
- Vacation home or rental real estate planning
- Irrevocable trusts, including life insurance trusts, asset protection trusts, defective grantor trusts and charitable trusts
- Leaving assets in trust for your children and grandchildren to protect against creditors and predators
- Income tax planning and tax consequences of transactions
- Elder law
- Administering probate estates or trusts for decedents and advising executors and trustees of their fiduciary duties
- Handling disputes over tax or estate planning issues, including will contests, trust contests, matters involving the state probate courts, the IRS and the U.S. Tax Court, and matters involving Missouri and Illinois revenue
At Herzog Crebs LLP, we are highly experienced at sorting out these issues and creating an estate plan perfectly suited for you.
Contact one of our attorneys to discuss how we can help you plan for your future: