Asset Protection

Lawsuits and the unexpected happens all too often and many are concerned about protecting their assets from creditor claims, taxes, divorce, and other disasters.

The greater your success, especially in realms such as business, professional practice, or real estate endeavors, the higher the potential risk you face. It’s crucial to recognize potential “risky behavior” that may currently be part of your activities:

Are you about to sign loan documents, a personal guaranty, or a lease? Do you manage rental properties or oversee employees? Do you practice law or medicine? Are you involved in construction or provide professional services? Perhaps you’re entering a marriage with children from a previous union or separate property assets.

Engaging in these activities adds flavor to life, yet we understand the importance of preventing that spice from becoming overpowering and negatively impacting your life.

This is where our expertise becomes invaluable.

We guide our clients in determining the appropriate level of asset protection planning tailored to their specific circumstances. Our approach includes considerations such as insurance, prenuptial/postnuptial agreements, asset segregation, jurisdiction selection, gifting, utilization of LLCs, partnerships, corporations, and asset protection trusts. We create customized combinations, layering strategies based on the unique needs of each client.

There are many different strategies to accomplish the protection of your assets while you are alive and after you are gone. To find out which strategies may be right for you, contact us.

Special Needs Planning & Trusts for California Children

Contact Kitzes Law if you need estate planning for your special needs child. We will work with you to develop a sustainable living plan for your child that will provide them with the finances they need to live a full life while preserving their access to government benefits.  

Estate Tax Protection & Planning

You work your entire life to save and have enough money to comfortably retire while ideally leaving something for your loved ones when you pass away. During your life, you pay all kinds of taxes: income taxes, property taxes, sales taxes, and so on. And, at the very end, the government even wants to tax you on the assets you have left at your death. 

The best way to protect your assets and your family’s future from excessive taxation is to hire an attorney who specializes in estate tax planning. The experienced estate tax planning lawyers at Kitzes Law, can help you reduce—if not entirely avoid—the federal estate tax burden.

Estate Tax and Estate Income Tax – 2 Separate Taxes

Estate Tax and Estate Income Tax are two different taxes.

Estate Tax is based on the total value of the Estate Assets when you pass.The current Federal Estate Tax Exemption amount is $13.61 million dollars per person! However, that number changes yearly and is currently set to be reduced to under $7 million dollars per person in the year 2026. We will see.

Estate Income Tax is based on the net income the Estate Assets before they are distributed. In 2024 the estate income tax rates are 10% for the first $3,100, 24% for $3,100-$11,500, 35% for $11,150-$15,200, 37% $15,201+. Therefore, it is critical to keep a close eye on deductions and when to make distributions to avoid such elevated income tax rates.

At Kitzes Law, we take that all of that into consideration during your initial planning as well as throughout our relationship with you and the management of your estate.

Advanced Estate Planning

For families with substantial estates, navigating intricate legal and tax challenges becomes a paramount concern, with estate tax being just one facet of the complex landscape. At Kitzes Law, we specialize in offering an array of advanced estate planning strategies specifically designed to alleviate the tax burdens that affluent families may encounter. Beyond addressing estate tax implications, our expertise extends to guiding families through intricacies such as gift tax and generation-skipping tax, enabling the seamless transfer of assets across successive generations without the risk of substantial estate tax depletion.

Some popular advanced estate planning tools and strategies include:

• Life insurance trusts
• Asset protection trusts
• Dynasty trusts 
• Family limited partnerships or limited liability companies
• Asset gifting

You’ve dedicated considerable effort to build your family’s wealth and legacy. It’s only fitting to invest a similar level of commitment into safeguarding those assets, particularly against the impact of excessive taxes. Contact Kitzes Law to minimize the potential tax burden faced by your family, so you can maximize the inheritance you pass to them.