We present a tool (LIFS) for low-power implementation of finite state machines (FSMs). The tool decomposes a FSM into several small communicating sub state machines (partitions). Low-power operation is achieved since only one partition is active (clocked) at a time, thus fewer registers need to be clocked. The hand-over mechanism between different partitions in the final state machine is controlled by asynchronous controllers. By using an asynchronous hand-over mechanism our approach has up to five times less power overhead than comparable approaches. To show the effectiveness of the LIFS tool, we present experimental results from standard benchmark examples.