Wiles McMichael has been a full-service Estate, Tax, and Business Planning law firm assisting clients with wealth transfer, wills, trusts, and more since 2007. From the start, our attorneys have been passionate about helping families and business owners safeguard their hard-earned fortune through innovative wealth preservation planning strategies.
During your younger years, financial activities mainly revolve around preparing for huge milestones like buying a house, funding a child’s education, or growing your wealth.
However, once you have accumulated enough assets, your estate planning and wealth preservation efforts become more important. Monitoring your possessions and keeping them growing puts you in the position to not only protect your wealth but also leave a lasting legacy for your family.
It’s also worth noting that you most likely worked for many years to get to where you are now. Therefore, you deserve to protect your hard-earned possessions and ensure they go where you want them to. Proper wealth transfer planning enables you to utilize wealth transfer tools available under the law to build your legacy and protect your inheritors from overwhelming taxes and the unwarranted claims of creditors.
As you start your wealth preservation planning journey, remember to tackle this endeavor with expert legal practitioners. Having professionals guide you through the estate planning and wealth preservation options available to you can help you save every tax dollar, legal fee, and court cost legally possible.
If you’re looking to get started on securing your wealth and transferring them to your inheritors, Wiles McMichael is here to help. Our attorneys can help you craft a plan tailored to your financial situation, but most importantly, they can help you make informed decisions so you can give what you want to whom you want and in the way you want.
Our ultimate goal is to help you safeguard your legacy. As such, we are here to ensure your inheritance lives on while legally protecting your heirs in today’s litigious society.
Let our wealth preservation planning professionals and legal practitioners help you safeguard the wealth you’ve worked to build. We work with professionalism, care, and sincerity to secure your best interests from start to finish.
Four Key Wealth Preservation Strategies
Smart Practices You Can Employ To Preserve Your Wealth Effectively
1. Look at Your Assets and Secure Important Documents
To make the wealth preservation planning process easier and more efficient, it’s best to know exactly what assets you have and secure copies of important documents related to them. You need an accurate account of all your possessions along with their corresponding files, such as insurance papers, bank account papers, power of attorneys, and more. But while this sounds like a daunting task, your estate attorney can help you ensure you have all your documents set up correctly. Moreover, they can advise you on the legal tools you can explore to provide your inheritors with wealth protection opportunities.
3. Discuss the Wealth Preservation Plan With Family Members
If you want to build an intergenerational legacy, it’s best to avoid tackling the wealth transfer planning process on your own. Instilling the importance of financial responsibility and wealth preservation planning even to the younger members of your family helps ensure that your wealth will last across multiple generations. As such, consider who you want to participate in managing your assets as early as possible. You may also start thinking of when to discuss the matter with them in the presence of your trusted attorney. Having these conversations early on can help prevent losses and conflicts in the future.
2. Create and Regularly Update Your Will
A will allows you to delineate how you want to distribute your savings accounts, investments, cash reserves, real estate, and other assets, so creating one is crucial in preserving your wealth. However, your task isn’t over once you have drafted a will with your attorney. Since your family will inevitably undergo changes in terms of your assets, number of beneficiaries, and goals, your will must keep up with those changes. Regularly reviewing and updating this document with your trusted wealth transfer planning professional can help you protect your family and assets alike in the most secure way possible.
4. Seek Advice from Qualified Professionals
While finding ways to preserve your wealth and creating plans to transfer them to your desired inheritors is a transitional and positive endeavor, federal and state legislation concerning wealth transfer can be complex. Moreover, using the wrong tools may expose your loved ones to huge estate taxes that can easily deplete the assets they will receive. As such, you need the legal know-how of a qualified estate attorney to craft the best plan for yourself and your heirs. Legal practitioners can help you navigate these complicated laws so you can get on the best proper estate planning path according to your goals and needs.
It’s done! For now any way. My wife and I finally updated and completed most all of our end of life planning decisions and legal matters including the Smith Family Trust, Healthcare Poxies & Access, Power of Attorney, etc. Huge shout out to Tripp Wiles, Alex Richey and everyone at Wiles McMichael, for their professionalism and help, great group of folks to work with on these important matters. I highly recommend them. –M.S.
It was such a pleasure meeting everyone at Wiles McMichael. I feel at ease by Wiles McMichael sharing their knowledge, compassion, and concern. – S.H.
It is a feeling of comfort to know the staff of Wiles McMichael are here to promptly come to our rescue when needed. We continue to thank each of you for your patience and guidance in making certain we have all our documents set up properly. – J.C.K.
The attorneys and staff at Wiles McMichael are OUTSTANDING! I will be forever grateful that they were referred to us to handle our family estate. They are extremely knowledgeable. More importantly, they are caring, sincere individuals that will have your best interests protected. – L.G.
Why Choose Wiles McMichael To Assist With Wealth Preservation Planning
Qualified Professionals Who Ensure Your Assets Last Across Generations
Successful wealth preservation planning entails leveraging the best wealth preservation and transfer tools available. However, finding the right strategy based on your needs and goals is not easy. With that said, you can count on our Wiles McMichael estate attorneys to leverage their expertise and field knowledge to help you find the most suitable strategies that will safeguard your legacy for you and your heirs.
Genuine Care and Concern
Our full-service law firm is dedicated to helping you secure your assets and preserve your legacies. As such, you can count on us to help you understand your options for wealth preservation and multi-generational planning. We know that these often come with overwhelming legal jargon, so we’ll work with you with genuine concern and patience to answer all your questions and clear any confusion.
Wide Range of Expertise
At Wiles McMichael, we specialize in various estate planning and wealth preservation strategies. This means that whether you need to create a last will or require expert help with special needs planning, we can help put you on the right path to achieve your goals. Most importantly, we use our years of legal experience to accommodate your unique needs and preserve your agency over your property.
Dedicated and Focused Services
At Wiles McMichael, we believe that everyone has unique financial situations that therefore require unique preservation strategies. That’s why we go the extra mile to provide you with dedicated and focused attention from start to finish. We take the time to analyze your needs and goals so we can develop a wealth transfer plan that is not only compliant with federal and state laws but also pertinent to your vision.
We understand that creating your will and preparing for your future is not a one-time event. Since your family needs and financial goals change through the different phases of your life, you need a partner who will help you make sure your wealth preservation plan remains relevant to your lifestyle. That is exactly why Wiles McMichael is in it for the long haul. We’re here to help you review and update your plans when needed.
Prompt and Reliable Assistance
We understand that life is unpredictable, and having all your essential documents and plans set up ahead of time is key to protecting both your wealth and your heirs. As such, you can trust that our estate attorneys at Wiles McMichael will be there for you, especially when you need them the most. All you have to do to get started is get in touch with us and we’ll get straight to work to help you protect your wealth.