BFV’s succession planning clients include individuals and families, as well as many business owners. Our estate planning includes tax planning, if required (for 2005 estates in excess of $1,500,000.00 and in 2006 estates in excess of $3,000,000), as well as counsel with regard to selection of appropriate fiduciaries (executors and trustees, if applicable). BFV also provides succession planning for individuals who may not have a taxable estate. Succession planning is critical, as it allows the client, rather than the statutory rules, to determine the disposition of the client’s assets and the appointment of the person to administer the client’s estate (and serve as guardian for minor children).

We prepare and negotiate a wide variety of estate planning documents including wills, trusts (QTIP trusts, life insurance trusts, special needs trusts, qualified personal residence trusts, charitable trusts, etc), powers of attorney for health care and financial decisions.

For business owners we provide business succession planning for the orderly transfer of their business interests during life or at death. We have extensive experience in advising business owners in all aspects of business succession planning including the preparation and negotiation of Buy-Sell Agreements (with or without funding mechanisms), structuring sales or gifts of business interests, reorganizations, family limited partnerships and other structures suited to fit the client’s needs.