Tax and Estate Plan Review​

Review your Tax and Estate Protection Plan

The final step in developing your Master Exit Plan® is to ensure that the wealth you have harvested will be properly protected with a comprehensive family estate protection plan.

The majority of business owners believe that if they have their “house” in order, meaning they have a will, maybe a trust, and burial plans in place, they have adequately protected their family. Statistically, privately held business owners are ill-prepared for incapacitation or death and the wealth created is often lost by the third generation.

The first generation makes it,
the second generation spends it,
and the third generation blows it.

It is common for business owners to think they are too busy to tend to after death concerns. However, once your Master Exit Plan® has been executed and the business has been sold, you must take extensive steps to preserve your family’s financial security for future generations.

We understand the importance of protecting the wealth you have created. Therefore, we encourage our clients to focus down the road to the third, fourth, and many generations ahead and ask the question, “what do you want your legacy to be?”

Family estate protection begins with identifying your dreams for your family and your contribution to society. A family culture that is one of high connectivity will foster the preservation of wealth. If necessary, our experts in family governance facilitate a 7-step process to ensure the vision of your legacy can be realized by proper estate planning that is aligned with your wishes.

A comprehensive family estate protection plan will ensure that your assets are distributed as you wish in the event of death or incapacitation, in a tax efficient manner, leaving the legacy you envision.

Legacy Partners’ estate experts review each client’s planning to determine if their preparation is complete.

This includes the following key documents:

Trusts: Revocable and Irrevocable. The most commonly utilized are the following however there are many others that our estate experts may deem of benefit to you for tax and legal purposes.

  • A Living Trust is created and funded during your lifetime, is revocable, and avoids probate court.
  • Testamentary Trust is created within a will and becomes effective upon your death.
  • Charitable Trust is set up to benefit a charitable organization. It is irrevocable and offers tax benefits will generating income.


Durable/Limited Financial Power of Attorney: A durable power of attorney allows you to appoint one or more persons to act on your behalf if you become incapacitated. A limited power of attorney agreement empowers an agent to act only upon specified activities.

Medical Power of Attorney or Advanced Directives: Often referred to as a Health Care Proxy allows you to designate one or more persons to make healthcare decisions on your behalf if you should become incapacitated.

Will/ Pour-Over Will: A Will provides instructions for the disposition of your property and appointment of a personal representative to settle your estate. A Pour-Over Will ensures that assets not previously funded into a trust are, at the time of death, automatically transferred or poured into your previously established trust.

Our estate planning analysis will provide specific recommendations that ensure tax efficiency and provide family estate protection. We also collaborate with your existing estate advisors to ensure proper implementation.

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