The Client
A widow, age 73, with a taxable estate of $ 3,600,000 --- composed mostly of several real estate properties.
The Summary Overview
The two children were concerned that the estate was extremely illiquid and that their mother was probably uninsurable. In addition, they wanted to protect against possible "fire sale" dissipation or other expensive estate settlement alternatives.
The Consideration
After substantial research regarding non-insurance alternatives for ameliorating potential estate settlement costs, it was evident that the best fit for various family objectives would involve an estate restructuring with appropriate "discounts" for estate valuation.
The Result
In conjunction with our affiliated tax firm's Wealth Transfer Group, the estate was restructured into several entities whereby potential estate settlement costs would be reduced by $511,000 --- and various provisions would maintain control of assets while increasing asset protection.