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You have worked hard to achieve your level of wealth. You have accumulated assets and invested wisely. Now is the time to focus on preserving your principal, generating income and protecting your assets against taxes and other forces that threaten to reduce their value. This is where proper personal financial planning can help.

Comprehensive Personal Financial and Asset Management Planning

Clients with wealth come to The Law Offices of Lawrence Israeloff, PLLC and engage us to provide our full services of comprehensive personal financial and asset management planning. Our tax planning strategies help high net-worth individuals reduce the impact of federal, state and local income taxes, protect against unnecessary estate and gift taxes, and maximize growth opportunities during life and after death. To ensure more wealth is preserved and enhanced, we develop strategies tailored specifically to each client’s financial situation, helping them identify and accomplish their personal asset-protection goals.

Tailored Strategies for Asset Protection Goals

We help our clients make educated decisions for their tax planning and compliance. We keep them informed of the latest tax laws and updates, including the new 3.8% Medicare surtax (the “Net Investment Income Tax”).

Educated Decisions for Tax Planning and Compliance

As of January 1, 2013, there is a new 3.8% net investment income tax on some categories of passive investment income for individuals, trusts and estates that exceed certain income thresholds. As a result, it is in your best interest to identify these income sources and adopt strategies to lower your modified adjusted gross income or your net investment income to avoid the surtax. If you think the new tax may apply to you, we can explain your choices and help you pick the best strategy to minimize the tax impact.

Understanding the New Health Care Law

If you’re not sure what the new healthcare law means to you, you’re not alone. A poll by the Kaiser Family Foundation revealed that just over a third of the public had tried to find out more information about the law—the Affordable Care Act—in recent months. About half of the respondents to the survey said they remain confused about the law and its provisions.

Shared Responsibility Provision and Coverage Requirements

Among other things, our individual clients should be aware of the Shared Responsibility Provision that becomes effective on January 1, 2014. Under the provision, people of all ages, including children, must either have minimum essential health coverage, qualify for an exemption or make a payment when they file their tax return. We can help you understand whether your coverage meets the law’s requirements, how gaps in coverage will be treated and what circumstances qualify for an exemption.

Additional Legal Services

In addition to personal financial planning and tax strategies, we also offer a range of legal services, including:

  • Quarterly estimated tax payment calculations
  • Future tax projections
  • Trust and estate administration
  • Business entity formation
  • Partnership agreements
  • Limited Liability Company operating agreements
  • Stockholder agreements
  • Buy-sell agreements
  • Purchase and sale agreements

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