Asset Protection & Tax Planning

With proper planning, you can create a legacy within your family and the community, diverting much of what would otherwise go to the government or potential creditors. While we certainly get tax and litigation questions from families, the most common questions we receive are “How do I keep peace in the family?” and “How do we build, protect, and pass on our wealth to the next generation?”

Littleton Legal PLLC is here to help you to answer those questions while minimizing taxes through strategies such as dynasty trusts, private foundations, donor advised funds, asset protection trusts, and charitable trusts. We strive to minimize or eliminate taxes, but rest assured, protecting the best interest of you and your loved ones comes first.

Asset Protection Planning

Asset protection planning is an important part of estate planning. An estate plan can protect you, your family, and your assets from lawsuits. You’ve likely already done some asset protection planning, such as purchasing homeowners’ and auto insurance.

There are actually many ways to protect assets and the method we use will depend upon your goals, assets, and family. As we briefly mentioned, purchasing insurance is the simplest form of asset protection.

Additional methods include:

Setting up a business entity such as an LLC to own rental real estate or a business.
Including lifetime trusts for your spouse and children in your revocable living trust.
Purchasing long-term care insurance and/or Medicaid/nursing home planning.
Using domestic asset protection, spousal, children’s, grandchildren’s, or life insurance trusts.
Implementing offshore planning.

Asset protection planning helps you reduce risk of loss of assets from lawsuits, including divorce, landlord/tenant, car accident, slip & fall, bankruptcy, business failure, malpractice, and the like.

Littleton Legal PLLC will help you to analyze risk, options, and peace of mind to get the best level of asset protection in place for you and your family.

Estate Tax Planning

While estate planning is not just about saving money, financial and tax planning – which do aim to save you money and optimize your wealth – are important elements of the estate planning process. High net worth individuals must contemplate capital gains, generation skipping transfer tax, estate and inheritance taxes, and income tax planning opportunities – for you and for your heirs – as part of the estate planning process.

Only about one percent (1%) of the population is directly affected by federal estate tax under the current law. However, it is important for high net worth individuals to take advantage of planning opportunities while the law is favorable, as the estate tax has swung like a pendulum in recent decades. Even for the wealthiest, the federal estate and generation-skipping taxes are voluntary taxes. You volunteer to pay these transfer taxes if you don’t plan ahead.

Contact Littleton Legal PLLC to develop a comprehensive estate plan that will minimize and/or eliminate estate taxes.

Testimonials

Littleton Legal is to be commended for their promptness and professionalism preparing legal documents for my family. They were fantastic to work with on a schedule for our phone conversation and pick-up of our documents. I highly recommend Littleton Legal.

Arlynda S.

After our family friend passed away at 50 without a will or estate plan, I knew that I didn’t want my kids and spouse to go through the chaos my friend did. I can say that I have been thoroughly impressed with communication from their office. I like that Brittany has business experience and has answered questions about my LLC as well.

Melissa L.

I just want to Thank Littleton Legal for helping us with our Estate Planning and Will at a time that was very crucial that we get everything in order, and as many of us do we wait until something bad happens and then are trying to get everything done last minute. I cannot Thank Christy enough for being so kind to us and moving on things so quickly to get everything finalized when we already had so much going on, Thank You again to everyone at Littleton Legal, I plan on giving you more of my business and will refer you to as many people as I can!

Neovella S.

Littleton Legal helped my family with estate planning, and we felt very good having our options explained to us in a way that we understood. They were willing to help us with some non-traditional agreements we needed to include, and made sure we fully understood the potential impact of our choices in putting together our affairs. I am so glad that we started our marriage off this way; waiting until closer to the end of your life makes it much more difficult and emotional, as I have seen with our older relatives. Thanks Littleton Legal, for giving us the comfort of knowing our children won’t have to fight for our assets when we are gone.

Rebeka M.

I highly recommend the team at Littleton Legal for any needs related to estate planning, preparation and for a variety of business support services. Brittany and her team can help get you ready for the unexpected and will do it in a respectful and professional manner.

Kristi S.

I am the single parent of three and have a business, so getting my estate in order was not going to be an easy task, and I really needed to trust that the person doing it would do it correctly. I had worked around Littleton Legal for about three years and had considered them and several others for my estate work and very happily landed with Littleton Legal. Brittany and her team are knowledgeable, trustworthy, effective, and move quickly, which is what I was looking for. They use technology in a savvy way that saved me time and emotional energy. And, Brittany is always careful to explain why she is suggesting the strategy she’s suggesting and what the pros and cons are. I could not have found a better partner for my family’s financial security and I can’t recommend the firm highly enough.

Shelley C.

I co-counseled with Natalie on a probate matter involving foreign national. Natalie maintained a high level of integrity and kept the cost at a reasonable level. Eventually she negotiated for a resolution that’s in the client’s best interest. I’m impressed by the professionalism and would like to give her a shoutout.

Hansi M.

I couldn’t recommend working with Littleton Legal enough. Brittany and her team are professional, knowledgeable, and experienced. All of my questions were answered through my Estate planning. Brittany even made sure that questions I hadn’t thought to ask were answered as well. I’m so happy to have Littleton Legal on my side!

Jenn N.

Littleton Legal was a pleasure to work with from beginning to end. Their team helped my colleagues and me with issues around corporate formation and 501(c)(3) application. With the expert service of Littleton Legal, our nonprofit was granted tax-exempt status under 501(c)(3) as a public charity within a year of applying. Highly recommended for your business needs.

Marley S.

Brittany and her staff were so easy to work with. I went in not knowing a ton about estate planning and ended the process feeling confident in my understanding and of the decisions being made. There’s probably never a comfortable time to spend the money and effort on estate planning, but she has the process so streamlined that it was really painless. I highly recommend!

Allison H.

Asset Protection & Tax Planning

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