Attorney Mieko Shikuma We truly believe in counsel-based estate planning

We believe that each client should receive individualized service and establish an estate plan which is tailored to his/her own wishes and goals. We truly believe in counsel-based estate planning, not form book-based estate planning.

For example, a couple who has been married for many years will have a different estate plan than a second marriage couple with children from the previous marriages. High net worth families will need special strategies in their plans to minimize estate, gift, income and generation skipping taxes. A taxable estate with illiquid assets will establish an Irrevocable Life Insurance Trust (ILIT) so that the personal representative of the estate would not have to sell the assets in a short amount of time for unreasonably low values just because estate taxes have to be paid within a 9-month period (or a 15-month period with an extension). Also, clients who are engaged in a high risk business may want to establish an Asset Protection Trust in another state in which a self-settled trust is accorded with creditor protection because Washington does not accord asset protection for a self settled trust while the trust maker is alive.

These are only some examples of personalized estate planning strategies. Attorney Mieko will discuss all these important issues with you and design an estate plan that suits your goals and wishes.

Attorney Mieko will help you minimize estate, gift, generation-skipping, and income taxes with a variety of Hi-Tech estate planning tools. If you want to make provisions for your children, grandchildren and great-grand children, Attorney Mieko will help you create a multi-generational dynasty trust (Inheritor’s Trust) for your descendants. A multi-generational dynasty trust can continue for 150 years in Washington. The Inheritor’s Trust allows the primary beneficiary to control the trust as trustee (Beneficiary-Controlled Trust), however, it is protected from the beneficiary’s estate taxes, judgment creditors, personal injury lawsuits and divorcing spouses.

In order to protect the assets that will be transferred to your loved ones, Mieko will help you establish special arrangements in which the assets will be protected from various predators.

For example, if you leave $1 million to your child, the child can lose all the money to divorcing spouses, a personal injury lawsuit or other judgment creditors. Even if you have established a trust with your child as a beneficiary, if the trust is not set up properly with maximum asset protection strategies, the assets can be taken away by these predators. Attorney Mieko will provide you with the maximum level asset protection that the current estate planning technology permits.

Attorney Mieko will help you establish your estate plan so that your estate would be subject to lower taxes and you can leave more assets to your loved ones without contributing too much money to the IRS.

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category: Estate Planning, Trusts, Wills

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