Estate & Wealth Preservation Planning Scott Beattie Profile Pic

Scott G. Beattie heads up the firm’s Estate Planning and Tax Planning Departments. Since 1991, Beattie has designed and implemented hundreds of estate and wealth preservation plans for his clients, both for high net worth individuals and people of more modest means. Mr. Beattie enjoys a challenge. His broad knowledge of estate, gift, and property tax laws make him particularly well suited to serve clients who own real estate, family farms, commercial properties and family businesses.

In the areas of Wealth Preservation and Wealth Transfer Planning, Mr. Beattie's work ranges from basic estate planning (such as the design and drafting of Wills, Living Trusts, Corporations, Partnerships, and LLCs), to more advanced planning strategies using Irrevocable Gift Trusts, Grantor Trusts, Charitable Trusts and Foundations, Intra-family Sales, and other advanced strategies and solutions.

The primary objective of the initial estate planning sessions are to deal with issues related to basic control and disposition of a client’s estate. Does the client want to avoid probate? Will the client (and spouse) remain in full charge of asset management during their lifetime(s)? Who are the designated successors after a death? Who will control financial and health care decisions in the event of incapacity? In California these basic control and dispositive issues are usually addressed in Wills, Trusts, Durable Powers of Attorney for financial matters, and Advance Health Care Directives which address lifetime and testamentary disposition of assets. If a business entity is involved, more advanced succession plans may include Rights of First Refusal, Options to buy real estate or businesses and Buy-Sell Agreements.

Mr. Beattie and his team will learn about a client’s background and family circumstances, understand his or her business and investment holdings, and most importantly determine the client’s wishes as to the lifetime management and testamentary disposition of their hard earned wealth. After learning about a client’s circumstances and objectives, significant effort is made to determine the particular risks and issues faced by the client. Is there harmony among family members? Is one child involved with the business but not others? Are there income, estate, or property tax issues which need to be mitigated? The answer to these questions will determine whether a basic level of estate planning will be sufficient or whether more advanced planning strategies are appropriate.

Recommendations are made to address both tax and non-tax problems associated with a client’s financial and business condition. The process then moves on to designing and implementing a plan to protect the client and his or her family, so that the client’s businesses and investment properties can continue to benefit the client and his or her family long into the future.

Business Planning
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