Business and Family Farm Transitions
Estate Planning decisions can be really hard for clients who own a family business or farm.
Few assets cause more concern than understanding, choosing and implementing transition and estate planning tools. At Badura & Wintz Law, we help business and farm families address financial security, control and management issues, and promoting and achieving fairness through family communication, use of entities in transition plans and the role of outside wealth accumulation, and understanding estate, gift, inheritance and income taxation to assure senior generation security and continuing operational success.
A pet trust is a legally recognized means to provide for the care and maintenance of our animals in the event of our disability or death.
We help our clients create a trust, which may take effect during lifetime or at death to hold assets in trust for the benefit of our client’s pets.
The trust designates a care giver who may or may not also be the trust investment manager. Payments are made to the caregiver on a regular basis and as needed for special situations such additional medical care. We often state that the primary purpose of the trust is to provide a warm, caring, loving and safe environment for the animal(s) in a fashion similar to that which our client has provided. Among other things, these include a good home, nutrition, exercise, grooming, quality veterinary care, human interaction (such as doggy daycare), and the animal(s) being afforded any and all reasonable luxuries.
We also provide end of life instructions, and designate an advocate for the pet if the caregiver or assets manager is not doing their job correctly. The trust continues for the life of the pet(s) (including those in gestation at our client’s death) or until all of the trust’s funds are used.