One of the issues that trouble many is what will happen to their property and family after their demise. The issue becomes even more complex when it comes to a family business and the business owner wishes to train his children to run the business during his life. This requires not only the preparation of a will or a trust, but also an update of the company's conduct to bring in the heirs to manage, including updating the bylaws, preparing the employees and the environment and other actions.
Another issue, not less important, is the preservation of a person's possessions and wishes in his or her life, in a situation in which the person is temporarily or permanently unable to control his or her life (for example, a permanent medical condition such as dementia or a temporarily loss of mental fitness ). In such a case it is important for a person to ensure that the property will be dealt with as the person decided at a time when when still in complete control and for this purpose the mechanism of lasting power of attorney was created.
Another area of importance in the area of intergenerational transfer is the area of trusts. When a person has property that such person wants to ensure no one can touch during his or her life (e.g., creditors of a successful business owner, in case the business will collapse in the future) or after his or her death and that property is managed in the way such person wishes (e.g., creating a fund for his or her child's education, or for a public case). Creating a trust is the right and best way to do it.
Our firm handles all issues of intergenerational transfers, including arranging the transfer of ownership and management in family owned businesses and companies, trusts and estates, wills and inheritances and lasting powers of attorney
Inter-generational transfer of a business
Inter-generational transfer of a business, especially a family business, is a complex issue that requires preparing the business for the next executive generation, avoiding family conflicts and a gradual transfer of the business holdings, or preparing a will or a testamentary trust documents for transferring the shares upon the demise of the business owner.
Preparation of trusts and use as trustee for assets and transactions, including complex international transactions and including payment agent.
Wills and Estates
Our office handles all the issues of wills and realization of wills and inheritances, including inheritance orders and probate of wills, as well as inheritance redistribution agreements in the event that heirs seek to partition the inheritance differently than stated in the will or different than the division under the law, in the absence of a will.
Lasting Power of Attorney
Preparing and signing of lasting powers of attorney