The planning and process involved in moving assets is complex. There are many factors to consider during the planning phase and many options available when structuring the most effective transfer for your particular situation. The professionals at DZH Phillips have experience advising clients with wealth transfer issues including tax planning, establishing trusts for minors, asset titling, selecting trustees, charitable giving, and succession planning.
Estate Planning
When people think about estate planning, they most often consider securing the advice of an attorney. Along with legal counsel, however, the services of a CPA can be an important tool in the development of estate planning strategies that limit tax burden and ensure your heirs will receive everything to which they are entitled. The financial planning aspect of a proper estate plan cannot be overlooked. Even those with modest estates at present may find that their assets have grown significantly in value at the time of their death. Consultation with an experienced advisor will help you organize your affairs and structure your estate in the most effective way for your heirs. Our experts in the area of estate planning will provide guidance in issues of joint ownership, trusts, life insurance, and federal and state taxes.
Charitable Gifting
Philanthropic giving is an important component of many wealth management strategies. In addition to providing valuable resources for the organizations and causes you support, charitable gifts carry significant tax benefits for individuals and estates. The advisors at DZH Phillips are knowledgeable about an array of charitable gifting strategies, including immediate gifts of cash or appreciated assets; charitable trusts; private foundations; community foundations; and donor-advised funds. Whether you’re looking to make a gift now or through your estate, we’ll assess your situation and recommend a strategy that will fulfill your philanthropic goals while minimizing your overall tax burden.
Succession Planning
If you’ve built a business from the ground up and invested so much of yourself in it, thinking about retirement may be the last thing you want to do. However, time and again, experience has taught that proper planning is essential to the survival of a business following the retirement or death of an owner or key manager. DZH Phillips encourages business owners to begin the process of succession planning early, and to incorporate it into their overall retirement and estate planning efforts. We know that succession planning is more than just finding the right person to take over your business. The right plan will help you identify potential leaders; provide incentives and training to retain and promote a loyal, dedicated staff; increase the value of your business; and move you toward retirement with peace of mind and a sense of accomplishment.
DZH Phillips helps clients foster a business environment that promotes succession planning through leadership efforts, recruiting, retention, and compensation; implementation of structures and procedures for hiring and firing, compensation, and other administrative issues; board development; and documentation of business policies. We’ll help you with a comprehensive approach to succession planning that includes retirement planning, client transition, and employee development.