Good estate planning advice can save a client thousands of dollars in probate fees and estate taxes. For this reason, THOR sits down with every one of its clients and reviews their particular estate situation with a view to minimize probate fees and estate taxes and maximize the wealth a client can preserve for themselves and their family. THOR has extensive experience in this area – one of its shareholders has practiced estate planning law for 17 years. THOR provides a full range of estate planning services all of which are designed to help its clients achieve their personal and financial goals. These services generally include, but are not limited to, advice regarding the accumulation, retention and transfer of assets. Careful consideration is also given to the income, gift and estate tax consequences of every situation. We have worked with clients in a variety of situations, including:
- Planning for the appropriate disposition of wealth to meet individual and family goals and to minimize both income and transfer taxes;
- Tax advice regarding retirement savings and distributions;
- Assistance with completing designation of beneficiary forms for Individual Retirement Accounts (IRA) and qualified retirement plans;
- Allocation of contributions among Roth IRAs, traditional IRAs and qualified retirement plans;
- Determining whether a trust is appropriate and, if so, what type of a trust; and
- Tax advice regarding contributions to a client’s favorite charities.