Gueronniere, P.A. provides comprehensive estate planning services to clients from all walks of life, including high-net-worth individuals, families, and businesses throughout Florida. Knowing that no two estates are the same, we develop customized solutions that help clients protect their assets and achieve their financial goals.
When you meet with us, we will take the time to get to know you, explore your options, and tailor an estate plan to your unique needs and objectives. Whether you need assistance creating a will, establishing a trust-based estate plan, drafting a business succession plan, or charitable planning, our trusted advisors are here to help. Contact our Wellington office today to arrange a complimentary consultation.
The Trusted Choice In Estate Planning
At Gueronniere, P.A., we have extensive experience preparing essential estate planning documents, including:
- Wills
- Trusts
- Powers of Attorney
- Advance Healthcare Directives
- Living Wills
A will is a cornerstone document that determines how your assets will be managed and distributed after you die, names an executor to administer your estate, and designates a guardian to care for your minor children.
Because a will must go through a probate proceeding, which can be lengthy and costly depending on the size of the estate, many clients can benefit from establishing trusts. Generally, there are two types of trusts – revocable and irrevocable:
- A revocable living trust takes ownership of your property, allows you to continue managing it during your lifetime, helps plan for incapacity, transfers assets directly to the named beneficiaries, and avoids probate.
- An irrevocable trust cannot be altered, modified, or revoked. These trusts achieve several objectives, such as protecting assets from estate taxes and creditors’ claims, providing for a loved one with special needs, planning for incapacity, or leaving a charitable legacy.
Our services are not limited to drafting trusts and estate documents. We counsel clients throughout their lives to help them meet their estate planning and wealth preservation goals. When you become our client, working with our wills and trusts attorney will give you peace of mind knowing you have taken measures to protect your assets and your loved ones.
Florida Business Succession Planning Attorney
While you focus on launching and growing your business, who’s keeping an eye on the future? What will happen to your business as you approach retirement, if you suffer an incapacitating illness or injury, or when you pass away? You must establish a well-structured business succession plan so that your business will survive into the next generation,
At Gueronniere, P.A., we regularly design business succession plans as part of a comprehensive estate planning strategy for business clients, including those in the equine industry. Regardless of the nature of your business or its structure, we will work with you to:
- Select successors
- Establish operating guidelines
- Determine the value of the business
- Prepare buy/sell agreements
Our attorneys take a process-oriented approach to help business owners structure succession plans that fully address their company’s unique needs and demands. We regularly collaborate with a respected network of business accountants and financial professionals to arrive at business valuations. You can depend on us to help establish a plan that protects your life’s work and legacy.
Options for Charitable Planning in Florida
For many individuals and families in Wellington and throughout the state, charitable planning offers the inherent reward of leaving a charitable legacy and the related tax deduction. At Gueronniere, P.A., we counsel clients on various opportunities for charitable planning.
Charitable Lead Trust
A charitable lead trust (CLT) provides income to a charity for a fixed period. Assets in the trust may be securities, real estate, and other property. There are two types of charitable lead trusts – a grantor CLT and a non-grantor CLT:
- In a grantor CLT, the remaining assets go to the person making the trust (the grantor or donor). The grantor benefits from an upfront tax deduction for the trust’s present value but cannot take tax deductions for future charitable distributions.
- In a non-grantor CLT, the remaining trust assets go to the grantor’s designated beneficiaries. A non-grantor CLT can minimize estate and gift taxes.
Charitable Remainder Trust
A charitable remainder trust (CRT) differs from a charitable lead trust in that after the grantor transfers assets into a CRT, the trust pays income for a set period to either the grantor or their spouse and provides an immediate tax deduction. The remainder goes to a designated charity upon the grantor’s death.
Notably, charitable trusts are irrevocable: the grantor cannot remove assets from the trust.
Charitable Gift Annuity
A charitable gift annuity (CGA) is similar to a charitable remainder trust but structured differently. A CGA is an irrevocable contract between a donor and a charity in which the donor transfers cash or property to the charity, typically a university or nonprofit organization, in exchange for a partial tax deduction and a lifetime annual income stream from the charity. The payments are backed by the charity’s assets and regulated more strictly than the income payments in a CRT.
Donor-Advised Fund
A donor-advised fund is a charitable investment account operated by a 501(c)(3) organization, known as a sponsor or sponsoring organization. The donor can contribute cash, securities, real estate, and other property in exchange for an immediate tax deduction, while the assets appreciate without tax liabilities. The donor can recommend prospective charities; however, the sponsoring organization has the final choice of charities that receive the funds.
In short, charitable planning provides several benefits, such as:
- Minimizing capital gains taxes
- Providing an estate tax deduction
- Providing you or anyone you designated with lifetime income
Ultimately, charitable gifts benefit communities and the causes you support and leave a legacy that will honor you and your family.
Contact Our Experienced Wellington Florida Estate Planning Attorney
At Gueronniere, P.A., we provide our estate planning clients with compassionate representation and caring, efficient service. Contact our office today to start planning your estate.