Effective estate planning facilitates the orderly transfer of assets to your beneficiaries while providing security and protection for your surviving spouse and children. Comprehensive estate planning can eliminate or minimize the tax due on the transfer of your personal wealth or your business. For an exploration of some of these issues please my article Michael Jackson and Farrah Fawcett: Estate Plan Wake Up Call.
As part of comprehensive estate planning the use of various gifting techniques are usually employed to tax advantage of various tax breaks. For a discussion of the federal gift tax rules please go to the hypertext article entitled Gift Giving: A Way To Save Estate, Gift and Income Taxes
For business owners, providing for business continuity and succession of ownership is essential to the continued success of the business. Business transition planning can minimize family discord after the death of the owner of such family business. For an interesting article exploring these issues please go to our hypertext article entitled Gifting Shares of Stock In A Bad Economy
We can guide you through the complex process of getting your financial affairs in order. It is imperative to properly effectuating your estate plan with the proper legal documents such as wills, trusts, durable powers of attorney, and advance medical directives/living wills.
Often overlooked is determining the proper beneficiary designations for life insurance, retirement plans, IRAs, Roth IRAs, and annuities. Coordinating these designations with the overall estate plan and documents is an overlooked part of estate planning. Our firm offers the experience and understanding as to how to best coordinate these diverse assets into an integrated, well conceived estate plan for the specific client’s estate planning needs and goals.
Any solid estate plan includes not only the drafting of appropriate legal documents, but should also include an analysis of how assets are currently titled between family members. As a result of such review, the realignment of assets may be required between spouses, or by making various gifts to family members or to charitable trusts, if appropriate, or by changing beneficiaries of life insurance, retirement plans, IRAs and annuities.
The implementation of the various aspects of the best estate planning strategy must be based on each family’s particular or special needs. All these complex considerations need to be blended and combined to create a well conceived, comprehensive, effective estate plan that will actually work.
Finally, changes to the family situation, finances and other events should trigger the review of the current estate plan. For some of the events that should trigger a call to action and analysis, please see the legal guide entitled ESTATE PLANNING HOT BUTTONS. Please do not hesitate to contact us to assist you in updating your estate plan. We are here to help you in this most important matter.
Hiring Steven was quite possibly the best decision of my life! Steven took the time to hear every single one of my concerns and address them in an extremely clear, concise and thorough manner. He guided me through the notoriously complicated and stressful process of probate with the utmost of compassion and dedication. Thank you Steven!
I highly recommend Steven J. Fromm for all your estate and tax planning needs. He has the most complete and thorough knowledge of current as well as pending federal, state, and local tax codes of any professional that I have ever been involved with. His ability to totally sort out your current financial condition and relate it to a plan to minimize your tax liability and allow you to sleep at night is without equal. He is professional, timely, creative, and an advocate for your needs, whether its personal or business. You can be assured that you will be well taken care of, with cutting edge/ sound financial and tax advice by Steven J. Fromm.
I have always found Steve to be very responsive, accurate and creative in legal matters presented to him. He demonstrates a good business sense. We have collaborated on several highly technical issues over the years. I look forward to our continuing relationship.
Steven has been instrumental in helping my partner and I to create a secure and satisfying estate plan, which meets or exceeds all of our wishes and contains contingencies for everything from medical issues to wealth management and living wills. In this process, Steven has also become a friend. If you need Estate Planning, Tax Advice, a Will or a trust, etc., we highly recommend Steven Fromm, Esquire. He will listen and be sensitive to your unique situation.
Steve is an excellent attorney who has provided help for my family personally for business, tax, and other services for many years. He is extremely knowledgeable and thorough, and is extremely good at explaining legal concepts to me in clear terms understandable to a non-attorney. It is difficult to pick only three attributes above, since Steve’s work meets most if not all of the attributes above.
Steve is an excellent corporate attorney who has a deep understanding of corporate law, taxes and estate planning. He’s been extremely helpful to me in keeping my many companies and business ventures organized, focused and squeaky clean. He’s very strong in estate planning and wealth preservation as well. Finally, his follow through is air tight and utterly dependable.
Steven is a trusted adviser. We depend on him for so many things. He is patient, listens to our needs and makes excellent suggestions. He is extremely talented. We value his advice and have recommended him unhesitatingly to friends and family.
Steve Fromm is a superb lawyer and I highly recommend him! After a terrible experience with a previous lawyer concerning an estate administration, I entered his office feeling very deflated, confused and discouraged. However, I left his office feeling enthusiastic and eager to get down to business. My situation was very unique, I needed his expertise for an array of things and Steve was able to address all of my needs. With a limited timeframe and an extreme amount of obstacles to overcome he worked meticulously, diligently and accomplished extraordinary results. His professionalism is incomparable and I am forever grateful.
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