Wealth Preservation and Transfer
Wealth preservation and transfer is a rapidly growing area of practice that involves planning for the accumulation, preservation, management and transfer of wealth, as well as the management of personal affairs during an individual's lifetime. Vedder Price's attorneys counsel clients with regard to matters such as compensation planning, employment agreements, options under retirement plans and individual retirement accounts, personal and business income tax planning, tax return preparation, investment bookkeeping, asset-custody arrangements, property ownership alternatives, premarital and postmarital agreements and planning for the possibility of mental or physical disability.
Advanced Wealth Transfer Techniques
Vedder Price assists many clients who have large estates with a variety of assets, including securities, real estate, closely held businesses, mineral interests and art collections. These clients often can benefit from sophisticated planning techniques, including grantor-retained annuity trusts, family limited partnerships, limited liability companies, installment sales of assets, qualified personal residence trusts, charitable remainder trusts, gift trusts and irrevocable life insurance trusts. Vedder Price's attorneys use such techniques to produce very substantial tax savings and achieve important family objectives for our clients.
Retirement Planning
For many clients, a significant part of their wealth is held in profit-sharing, pension and/or individual retirement accounts. Planning for such assets requires special attention to minimize income and estate taxes when such accounts are distributed. Estate planning attorneys also help clients comply with complicated tax rules regarding the timing of distributions, whether the client wants to retire and receive retirement plan distributions early or defer distributions as long as possible. Vedder Price's attorneys have counseled many clients regarding tax-efficient lifetime distributions, beneficiary designations and planning for post-death distributions.
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