My Philosophy

On Estate Planning

Many people have the mistaken impression that estate planning revolves around tax planning. While taxes are an important consideration in any planning, the primary focus of estate planning should be to direct the disposition of one's property to the people desired and in the form most beneficial.

After learning about the choices available to accomplish one's goals, a person must decide on the form of legacy to leave. Both before and after exploring the technical aspects involved, a person who is serious about estate planning must revisit the legacy he or she wishes to leave.

On The Estate Planning Lawyer

The estate planning lawyer's job is to stay centered on this goal, while incorporating tax planning where appropriate. This involves, first and foremost, the attorney/client relationship being solid enough so that the client feels comfortable sharing sensitive, personal information.

John Paul Kelly, P.C.

I take the time and interest to develop these relationships with my clients, and am pleased when I become an important advisor clients rely on at critical and challenging junctures in their lives. I make every effort to communicate with my clients in a clear and understanding manner, so they can make informed decisions.

To be sure, I help my clients undertake sophisticated tax planning where appropriate.

  • Trusts, family partnerships and other limited liability entities can be configured into an estate plan to accomplish business succession, asset preservation and tax goals.
  • Life insurance, if properly structured, can provide estate liquidity without being considered a part of the estate tax base.
  • Retirement plans can be adjusted to allow for as much post-death income tax deferral as possible.
  • Charitable giving can be incorporated in the most tax-favored manner, so as to give to charity while reaping maximum tax benefits.

But all of these technical features are merely tools to implement my clients’ dispository goals. It is my goal to assist my clients in the management of their assets during this lifetime and to advise how they can best perpetuate their legacy.
 

[Home] [About] [Philosophy] [Areas of Practice] [News] [Contact Us] [Privacy]