Estate Planning Attorneys

Our team is skilled at business succession planning, guiding business owners to secure the longevity of their companies beyond their own tenure. A robust succession plan is imperative, encompassing crucial elements such as:

• • Limited Liability Company (LLC)
  • Family Limited Partnership (FLP)
  • Business continuity
  • Buy-sell agreement
  • Key person insurance
  • Exit strategy
  • Tax Efficient Estate Planning
  • Life Insurance

We work closely with business owners to determine who will take the reins, how stock will be managed, and the protocols for day-to-day operations. Without a well-crafted succession plan, the passing of a key company figure can cast uncertainty over the future of the business. We emphasize that a business succession plan is just as indispensable as a personal estate plan, ensuring a seamless transition and continuity for the success of your enterprise.

Having a will in place allows you to decide where your assets will go once you are no longer here. A will enables you to name an executor to administer your estate once you pass. Likewise, you can designate specific beneficiaries to inherit your assets; these are often spouses or children.  

Having a well-drafted will is paramount for people with children, especially if those children are minors. A will allows you to appoint a legal guardian to look after your children in the event of an untimely death.  

Family legacy planning and descendant’s financial and estate planning are often included in the estate planning process.

While it may seem easy to draft your own will, the process is always best left to an experienced estate planning attorney who can provide sound counsel and make recommendations based on your wishes. In addition to traditional wills, if a trust is part of your estate plan the attorneys at KJK can help you draft a pour-over will that transfers any assets to an established trust. A pour-over will helps ensure your assets pass to your beneficiaries in the most private manner possible eliminating the need for a lengthy probate process. 

We also assist clients with beneficiary designations for both real estate, retirement accounts including IRAs and 401ks, and other investment accounts, real property issues and transfers, and Homestead protection.

KJK’s attorneys skillfully assist clients and their families in navigating the intricate and challenging journey of preparing for the extended care of an elderly family member. Whether strategizing for the well-being of parents, other cherished relatives, or close friends, our dedicated team ensures comprehensive planning to address both the medical and financial requirements of your loved ones.

Our services cover the following vital elements:

• Long-term care planning
• Special Needs Planning
• Conservatorship
• Guardianship
• Medicaid Asset Protection Trusts
• Nursing Home Contract Review & Negotiation

Medicaid Assets Protections Trusts are an effective estate planning tool to protect assets from Medicaid’s reach.

Rising long-term care costs and longer life spans have made it critical to proactively plan for asset preservation. The most effective way to shield assets related to long term care costs from the government’s reach is through a Medicaid Asset Protection Trust. These trusts allow individuals to protect assets and still qualify for Medicaid benefits.

Because there is a government imposed five-year look-back period for all asset transfers, the grantor’s goal is to make the transfer to the trust at least five years prior to needing long-term care. If the Medicaid Asset Protection Trust contains assets for at least five years prior to applying for Medicaid benefits, the transferred assets are protected and the government cannot force the grantor to spend down those assets on long-term care.

Administering an estate or trust after a loved one has passed is a heavy burden during an already painful time. Executors of estates often hit roadblocks like creditor claims or familial disputes. Dealing with such issues on your own is time-consuming and stressful. If you have been named the executor of an estate, the lawyers at KJK can guide you through the probate process and any arising conflicts. We are also available to provide professional trust administration.

Probate Services We Offer:

• Probate & Estate Administration both testate and intestate
• Guardianship
• Probate Litigation
• Probate Mediation
• Will Contests

We assist our clients with the integration of their philanthropic objectives in their overall estate plan while achieving the maximum income, gift and estate tax benefits through the use of direct charitable gifts, charitable gift annuities, bargain sales and charitable lead and remainder trusts. Those with high-net-worth have a lot at stake when it comes to estate planning. Not only do they need to plan for the care of their family in the future, they also need to consider the tax implications they face. There are many factors involved in crafting an estate plan that allow the clients and their family to personally maintain as much of their wealth as possible. The members of our wealth planning group are able to apply a variety of sophisticated planning devices designed to preserve and protect a family’s assets while minimizing the income, estate, gift and generation skipping transfer taxes associated with the lifetime and/or testamentary wealth transfer. Our experienced attorneys can employ advanced tax minimizing techniques such as installment sales to intentionally defective grantor trusts, grantor retained annuity trusts (GRATs), irrevocable life insurance trusts (ILITs), qualified personal residence trusts (QPRTs), limited partnerships and limited liability companies.