Advanced Estate Planning Lawyers Palm Beach
The lawyers at Doane & Doane assist individuals, families, and businesses with unique estate planning needs, such as business succession, tax planning, high net worth, and charitable giving planning.
We also help our clients plan for the future by creating trusts, managing Medicaid goals, and planning for the care of children and other loved ones. Whatever your goals, we can help you achieve them.
Family Limited Partnerships
A business created by family members pooling their assets. Each family member then owns shares of the business. Benefits include:
- Maintain control of family assets
- Facilitate annual giving
- Obtain valuation discounts for gift and estate tax purposes
- Shift income to lower tax bracket
- Avoid probate
- Create hurdles to creditors
- Provide management structure for disability
- Protect family assets against failed marriages
A private not-for-profit legal entity organized under section 501(c)(3) of the IRS Code exclusively for charitable, educational, religious, scientific, or literary purposes. Benefits include:
- Tax deduction for the transfer of assets into the foundation
- Charitable estate tax deduction for assets transferred into the foundation upon death
- Donor control over contributions and disbursements
- Public charity—Donations result in tax savings for the donor
Family Holding Companies
A legal entity formed to hold family assets and make partial distributions to future generations. Its major benefit is to reduce the gift tax that would otherwise be due.
Private Annuity Trusts
The transfer of a substantially appreciated asset in return for periodic payments back to the trustor. Benefits include reducing or eliminating estate taxes, as the asset is no longer part of the trustor’s estate.
A guardianship gives a court-appointed individual or entity the authority to make decisions for an incapacitated person who cannot provide for his her own basic needs, properly care for his or her health, and/or manage his or her finances.
Doane & Doane proves the legal and financial services required to manage a trust.
The legal transfer of assets to family members in anticipation of the future need to qualify for Medicaid health and long-term care benefits.
Power of Attorney
A document that allows the principal to give authority to another person to make financial and legal decisions on behalf of the principal. It is called durable when, by its terms, it remains effective even if the principal becomes mentally incompetent or physically disabled.
Health Care Surrogate Designation
A document, signed by a competent adult, designating another person whom the person trusts to make health care decisions on the person’s behalf should that person become unable to make such decisions.
A form that a patient signs stating that his or her medical information can be given to someone else.