S.D. Merritt & Associates helps achieve clients' goals through use of the planning techniques outlined below. Recommendations are made based on the particular needs of each client, and are coordinated to minimize income tax, gift tax, estate tax and generation-skipping tax implications.
S.D. Merritt & Associates uses the following vehicles to help clients transfer their assets to those persons they wish to benefit, in the time and manner they wish, and with the least possible taxes.
Certain elections, disclaimers, and other techniques can be used to alter a plan after someone's death in order to save taxes or for other valid reasons. Many of these decisions must be made within a limited period of time so it is important that legal counsel be sought as soon as possible after death.
Planning for incapacity includes using powers of attorney and trusts to help clients plan for the management of their assets and health care in the event the client becomes incapacitated. This avoids the necessity of costly court proceedings in these situations. Such planning includes the following documents:
Planning for children includes designating persons to take care of the children in the event of the client's incapacity or death as well as setting up vehicles to manage assets passing to children in order to avoid costly court proceedings for conservatorships and guardianships.
If you are charitably inclined, charitable planning can help achieve your charitable goals and at the same time achieve both income and estate tax savings. The following are some of the techniques used for this purpose:
The firm represents clients acting as executors, estate administrators, and trustees. We advise such clients of their responsibililities and prepare court filings and estate tax returns and assist with the administration and distribution of the estate or trust.