Family Wealth Planning

Family wealth planning is the cornerstone for effective wealth preservation. At Ramsbacher Prokey Leonard LLP, we can assist with your lifetime wealth planning, helping to manage, preserve, and transfer your assets—whether an active business or passive investments—with an emphasis on multigenerational benefits.

We are experienced in advising heirs and helping them to develop life skills such as sound financial management. This can be especially challenging when wealth preservation spans generations, often requiring the effective use of entities such as corporations, partnerships, limited liability companies (LLCs), charitable trusts, and private foundations. We have extensive experience in forming, documenting, and if necessary, defending these entities.

A strength of our firm is ensuring that your family’s wealth is protected not only against unnecessary tax liabilities, but also against divorce, family disputes, third-party creditors, and other threats.

Family wealth planning calls for customized yet practical planning, that accounts for future growth potential and wealth management succession issues. This practice area often includes the following:
  • Participating with other advisors to analyze business and investment opportunities and to identify the optimal assets and timing for efficient wealth transfer strategies. To be clear, we are not investment advisors and do not provide investment advice. However, we will work with your other advisors to ensure that your overall wealth plan operates efficiently.

  • Recommending appropriate legal entities for each situation

  • Forming the chosen entity, including, but not limited to: C and S corporations, partnerships, and Limited Liability Companies (LLCs)
  • Preserving control through the use of entities, segregating capital assets from operational assets, utilizing voting and non-voting equity interests, and establishing management succession plans

  • Forming and funding special trusts, such as grantor retained annuity trusts (GRATs), intentionally defective grantor trusts (IDGTs), irrevocable life insurance trusts (ILITs), long-term dynasty trusts to benefit younger generations, and various charitable trusts, such as charitable remainder trusts (CRTs), charitable lead annuity trusts (CLATs), and private foundations

  • Valuation planning with respect to unique assets