A legacy is built not only with a gift of property given by will or trust but also with the convictions and values the gift embodies. High-net-worth individuals and families need to carefully plan how they will utilize their assets to shape their legacy in both of these ways. The decisions involved, however, are not just financial. They require consideration of the needs and desires of current and subsequent generations, an appreciation for the individual heirs involved and their ability to manage wealth, and an understanding of the legal and tax ramifications of the available estate planning tools.
Saul Ewing’s estate planning attorneys understand how personal these decisions are from our experience representing multiple generations of high-profile and high-net-worth families and individuals. We assist our clients in transitioning their wealth, valuable possessions, real estate, and business holdings to their heirs and preferred charitable beneficiaries, while navigating the family and organizational landmines inherent in wealth transfer. In doing so, our attorneys bring to bear their skills as trusted and skilled advisors with their extensive knowledge of the ever evolving tax code, estate and trust laws, securities regulations, and accounting rules that apply in the context of transitioning wealth from one generation to the next. Our attorneys are focused on helping our clients identify and implement strategies to hold, manage and distribute their assets in a manner that minimizes their liabilities and maximizes their ability to meet their estate planning and family preservation goals. Some of our tools include wills, various types of trusts, and other types of entities focused on wealth transfer, asset protection and charitable gifting, such as GRATs, GRUTs, QPRTs, ILITs, CRUTs, CRATs, FLPs, and LLCs. Additionally, individuals and families frequently rely upon our services for innovative planning techniques involving unique assets and real property holdings, including large parcels of land, ranches and farms, priceless antiques, jewelry and collectibles, artwork, and oil, gas, and other mineral
interests. Saul Ewing attorneys also understand that estate planning extends well beyond financial and tax planning issues to matters that involve the health and protection of the individuals who wish to transfer the wealth and the heirs who stand to benefit from it. To that end, we assist with planning techniques involving powers of attorney, advanced medical directives, guardianship arrangements, special needs, prenuptial agreements and other tools where, without sound legal planning and consideration, family dynamics often interfere adversely.