Practices | Wills, Trusts & Estates
Kanen Law Firm provides a full range of estate and tax planning services to private individuals, business owners, corporate executives, entrepreneurs, and other high-net-worth individuals. Our services include:
The basic theory of our estate practice is to ensure that our clients obtain the best legal advice while accomplishing their goals and maximizing their wealth. Whether you need legal representation in drafting your last will and testament, establishing a living will or health care proxy, creating a trust instrument or administering or probating your loved one’s estate, we will carefully listen to your needs and goals and will take all necessary legal measures to ensure that those needs and goals are met.
At Kanen Law Firm, we believe that having a well-crafted and legally sound will or trust is the most important part of planning for your family’s financial future. We advocate that every person should have a last will and testament or trust instrument so that their property and assets will be distributed pursuant to their wishes. Don’t let New York State determine who gets your property in the event of your death! Take charge of your and your family’s future and control how your property will be distributed among your family and loved one upon your death. Our firm will listen to your concerns and design the proper legal documents which best fit your individual needs. Each of our clients receives sophisticated advice based on current and comprehensive knowledge of complex federal estate and gift tax laws and we always integrate the client’s personal objectives, wealth preservation and ultimate family goals into the estate planning process.
In addition to the traditional will drafting and estate planning, Kanen Law Firm specializes in advanced planning techniques such as revocable or "living" trusts which offer the client confidentiality and continuity of asset management; irrevocable life insurance trusts to reduce the size of the insured's estate; qualified personal residence trusts which help our clients transfer a personal residence to heirs at reduced tax rates; grantor retained annuity trusts and sales to grantor trusts, in conjunction with family limited partnerships and limited liability companies, which help our clients transfer asset appreciation to younger generations at reduced gift and estate tax rates. For clients who wish to advance their philanthropic activities, our firm also assists in creating tax qualified charitable trusts and private foundations. Furthermore, many of our clients expand their investments and activities into the global arena, where our knowledge of multi-jurisdictional planning takes on greater importance. Non-residents investing in U.S. situs property must always adhere to strict rules to avoid U.S. tax implications, and our attorneys have the right knowledge and experience required to advise and assist clients in structuring such investments in a tax advantageous manner.
Doing what we do, we have come to understand that handling the estate of a deceased family member can be a very emotional and a very private matter. If your loved one passed away, with or without a last will and testament, Kanen Law Firm will navigate the court practices and procedures and take care of the administration or probate process, so that you can take care of yourself and your family during this difficult and emotional time. Our compassionate approach to these matters assures our clients that we will deal with their personal tragedy and grief in a dignified and considerate manner. We treat our clients as we would our family and friends.
Another important goal of estate planning practice at Kanen Law Firm is to protect our clients’ income and assets from creditors’ claims, tax collection and from many other potential legal risks. These risks may arise from diverse circumstances, including failed business ventures, public company directorships, personal injury claims or the termination of marital or other personal relationships. We have mastered the latest asset protection and wealth preservation techniques, which allow us to effectively plan for clients’ business succession while minimizing taxes and legal liability exposure to the greatest extent possible. There are many ways to protect financial reserves, personal property, real estate and other assets for retirement or for future generations. In addition to federal and state laws that exempt certain types of property from creditors’ claims, taxation or both, there are numerous estate planning tools that may be able to shield assets from future creditors and reduce or eliminate estate or income taxation.
Please contact Kanen Law Firm today to find out how we can help you with your estate planning, administration, and/or probate needs.