He also assists clients in the preparation of living wills, health care proxies, and durable and "springing" powers of attorney. Mr. Silverman counsels clients in the use of Limited Liability Companies and Family Limited Partnerships as vehicles which can protect assets, reduce income taxes and shift wealth to younger family members. In conection with the use of LLCs and FLPs, Mr. Silverman also counsels and assists clients in the prudent use of valuation discounts, which may reduce the incidence of gift and estate taxes upon the transfer of interests in these entities.