Asset Protection and Business Planning

San Bernardino County Lawyer: Asset Protection & Business Planning

As more Americans become entrepreneurs, they discover that wise business planning is essential to their success today and their financial security tomorrow. Our law firm can help you achieve your goals, whether your business is a one-person operation or one striving for a place on the Fortune 500 list.

Buy-Sell Agreements

Creating a Buy-Sell agreement can help you achieve tax advantages and control with respect to your family business. Equally important is the peace of mind you'll gain when you know your children will be well provided for and your legacy will be passed on in a highly structured and cost-efficient way.

Family Limited Partnerships

A strategy that can help you meet such diverse goals as estate planning and protection from lawsuits, the Family Limited Partnership may be something you should consider. We will help you determine if it's right for your business and family.

Lawsuit & Asset Protection

In today's litigious world, you've never faced greater threat from predators who will try to use the legal system to deprive you of your life's work. Part of your birthright is that you may be sued at any time, for any reason, and for any amount. The good news is there are proven strategies that will ethically preserve your wealth and keep the vultures at bay. We can help with these strategies for safeguarding your assets.

Limited Liability Companies

Tax-advantaged status and liability protection are the hallmarks of this legal tool. If we determine that a Limited Liability Company is appropriate for your situation, we will ensure that you derive all the benefits this company structure offers.

Estate Planning Lawyer Serving Redlands, California, And Surrounding Communities

Estate Planning for Family-Owned Businesses, Farmers and Ranchers

Family business owners, farmers, ranchers and landowners face unique challenges surrounding how to preserve the family business or farm-a symbol of their heritage. Sadly, over 70 percent of all family businesses don't survive the transition to the next generation. Estate taxes play a significant role in that problem.

However, estate taxes aren't the only costs chewing up assets passed from one generation to the next. Probate fees and other settlement expenses can significantly reduce an owner's legacy. On top of that are the problems surrounding the fair distribution of those assets to heirs.

Land Rich, Cash Poor

The typical farm family is land rich, cash poor. With hundreds of thousands, if not millions, of dollars locked up in equipment, livestock, structures and land, the net worth may be impressive. But when you look at the cash flow, it's another story entirely.

Estate taxes will be based on the current market value of all your assets. If your heirs can't readily come up with the cash from other sources, they may have no recourse but to sell the farm just to pay estate taxes and other settlement costs.

Estate Planning Solutions

Your farm or business poses two estate planning challenges:

1. How can you preserve it so that you can pass it on intact to the next generation?

2. How will you equitably distribute it among your heirs?

Achieving these two goals means planning in advance for such expenses as estate taxes, as well as implementing strategies that give you maximum control over how, when, and to whom ownership of your farm transfers. Contact our office for more information about your options.

Estate Planning Lawyer Serving Riverside County, California, And Surrounding Communities

Call 800-409-6271 or contact us online to schedule a consultation. All communications remain entirely confidential.