Preserving and Protecting Estate Assets
If you would like to ensure that your assets are effectively cared for and passed on in accordance with your wishes when you die, it is well worth your while to consult with an attorney about your estate planning options.
At Bernick | Lifson in Minneapolis, Minnesota, we assist clients with estate planning and the closely related areas of probate administration and trust establishment and administration. Contact us for sophisticated counsel from a team of skilled lawyers.
Skilled at Drafting Planning Documents
We believe in individualized service for each client. No matter what level of estate planning you are interested in, we can help you prepare any or all of the following documents in a manner that is oriented toward your specific goals.
- Wills: A will is a vital estate planning document that ensures that any property that is not disposed of by other means is passed on in accordance with your wishes.
- Trusts: A trust places certain of your property under the control of someone who will use it in accordance with your instructions. It can be used to care for minor children or people with special needs. It can also sometimes be used to reduce tax liability. (See sidebar.)
- Powers of attorney: A power of attorney gives someone the right to make certain decisions on your behalf. A health care power of attorney puts someone in charge of your medical care if you are incapacitated. A financial power of attorney protects your assets if you are no longer able to manage them.
Our attorneys can also assist estate administrators through the complex process of probate. Contact us for help with all of your trust, estate and probate needs.
Helping Clients Reduce Tax LiabilityWhile one aspect of estate planning is ensuring that assets are passed in accordance with your wishes, a closely related issue is reducing the tax liability of your estate. At Bernick | Lifson, we offer sophisticated approaches to reducing the value of property that is subject to estate tax. For many people, mechanisms such as revocable trusts (also known as living trusts), family trusts and family limited partnerships can reduce the tax liability that falls on their assets when they pass to the next generation. |

