The attorneys at Unruh, Turner, Burke and Frees are often asked if sophisticated estate planning, meaning methods other than a simple will, are just for the wealthy. Sophisticated estate planning techniques are helpful for any family with a business, an expensive primary home or a vacation home. These families face tricky issues when it comes to distrusting wealth to heirs. There are a number of tools that can be used to keep the family harmony intact and ensure that you can maintain your current lifestyle. For example, a qualified personal residence trust is a tool that we can employ give a property to the next generation of family members while still allowing the current owner access to it. It also freezes the value of the property, so that increases in the value can be passed along to heirs without being taxed. It's a sophisticated technique that a simple wills don't contain but it could prove extremely useful to your family. It's not for everyone so please call David M. Frees at 610-933-8069 or email him directly at [email protected] to learn more.
David M. Frees, III
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Attorney, Speaker and Author