Finding the right attorney to provide you the peace of mind that comes from knowing you have taken care of your loved ones with an estate plan that accomplishes your concerns and goals can be daunting. At the heart of what drives the wealth preservation attorneys at RCO Law provides our clients peace of mind about the efficient use, protection, and ultimate transfer of wealth. Using our years of experience and knowledge, we work with clients to create customized and practical estate plans in a clear, straightforward fashion that accomplishes your goals. Whether you have a special asset, like a business, farm, or vacation property, or a unique situation, like a taxable estate, second marriage, or special needs child, the attorneys of the RCO Law Wealth Preservation group will help create a solution that gives you peace of mind

Asset Protection Planning

We frequently work with clients to develop and implement efficient strategies to maximize the protection of their assets from potential liability.

Business Succession Planning

We understand the unique challenges posed by the personal and business relationships in the transfer of a closely-held business to a family member or key employee. We create plans that permit a business to survive the death of its owner and continue to prosper.

Elder Law

Our attorneys maintain close ties to the senior community resources where we practice and will help you and your loved ones gain quick access to those resources. We are skilled in the preparation of Medicaid applications and guide our clients through the qualification process.

Estate Planning

We prepare wills, trusts, durable powers of attorney, and health care directives which put our clients’ wishes into legally binding plans.

Executive Benefits Planning

We regularly advise executives and professionals with complicated executive benefit plans such as deferred compensation, split-premium life insurance plans, and retirement plans.

Farm Transition Planning

No one understands farm transition planning like a farmer. Several of our attorneys grew up on farms and continue to be active in farming.  These attorneys understand that “fair” does not always mean “equal” when it comes to dividing the farm assets.  We develop plans to pass the farm to the farming children and be fair to the non-farming children.

Retirement Asset Planning

We counsel clients to avoid potential tax problems and tax liabilities related to withdrawals from their life savings.

Tax Planning

We work with clients to develop strategies to minimize local, state, and federal income, capital gains, real property, and federal estate, gift, and generation-skipping taxes.

Trust and Probate Administration

We assist clients after the death of a family member with the efficient and fair transfer of assets. We listen to concerns of family members and take measures to assist in the avoidance of family conflict.

Estate Planning

• Designed estate plans that allowed family businesses to pass to the next generation of owners while simultaneously providing a fair inheritance to the other members of the family.
• Created estate plans that eliminated State and Federal estate taxes.
• Implemented charitable trusts that achieved our clients’ charitable wishes while also providing tax benefits.
• Used probate avoidance techniques for both simple and complex asset situations.

Elder Law

• Used “Solely for the Benefit” trusts to preserve assets and qualify for Medicaid assistance.
• Prepared, filed and helped oversee the Medicaid application and approval process.
• Obtained emergency guardianships and conservatorships to protect he physical and financial safety of client’s loved ones.

Trust and Probate Administration

• Assisted executors and personal representatives in the efficient and timely administration of probate estates in accordance with relevant law.
• Advised individual and corporate trustees in all aspects of trust administration ranging from general guidance to managing all aspects of trust administration.
• Represented trustees and beneficiaries in applying to probate court for interpretations, modifications and enforcement of wills and trusts.

Retirement Asset Planning

• Assist clients with making decisions about lifetime distributions, rollover planning, beneficiary designations, and controlling post-death distributions to beneficiaries.
• Prepared conduit trusts that allow qualified assets to be left to a trust while maintaining the ability to stretch out the withdrawals.

Tax Planning

• Advised clients on the impact of federal and state income tax, estate tax, gift tax and capital gains tax consequences of their estate plan.
• Designed and implemented plans to minimize or eliminate estate and gift taxes upon death.
• Represented clients in disputes with the IRS, state and local taxing authorities.

Business Succession Planning

• Advised clients in all aspects of the sale of their business to sons, daughters, key employees and unrelated third parties.
• Worked collaboratively with accountants, financial planners and other professionals to ensure our legal advice fits seamlessly into the overall plan for our clients’ futures.
• Created transition plans that allow business owners to realize the financial benefit of their years of hard work while also ensuring the next generation of owners is in a financially stable and sound position to continue running the business well into the future.
• Used life insurance strategies to provided needed liquidity for the business at the time of an owner’s death.
• Used gifting techniques to achieve valuation discounts and reduce estate tax liability upon an owner’s death.

Farm Succession Planning

• Created estate and lifetime succession plans that allow the farm to pass to the farming child while fairly providing for non-farming children.
• Used limited liabilities to allow non-farming children to own a share of the farm while leaving control of the operations to the farming child.
• Provided for liquidity in the estate of a deceased owner that prevented the sale of farm land to pay other debts.

Asset Protection Planning

• Used corporations and limited liability companies to minimize the potential impacts of a catastrophic liability.
• Advised clients regarding the trap caused by fraudulent conveyances and the proper time and circumstances to do asset protection planning.