A husband and wife, both successful business owners with significant assets and a young child, came to us without any tax, financial, investment, or estate planning in place, leaving them vulnerable to estate taxes and business risks. We promptly implemented income tax strategies to reduce their current liabilities, worked closely with an attorney to establish an S Corporation to safeguard their business from personal liability and enhance tax efficiency, and set up various trusts to preserve their assets while seeking to ensure their child’s financial future. Additionally, we arranged for a life insurance policy through an Irrevocable Life Insurance Trust (ILIT) to address potential estate tax liabilities, keeping the proceeds outside their taxable estate.