Trusts & Estates
The Firm's Trusts & Estates practice offers a wide variety of services, including estate planning; income, estate and gift tax planning and advice; representation in tax controversies involving federal and state transfer tax issues; estate and trust administration; and representation of estate and trust beneficiaries.
Our estate planning services include traditional planning vehicles such as wills, revocable (“living”) trusts, basic marital trusts and family trusts, retirement plan and life insurance beneficiary designations, and financial and health care powers of attorney. Depending on the client's circumstances and wishes, we may add more sophisticated and cutting-edge strategies using entities such as grantor retained annuity trusts (GRATs), family limited partnerships or limited liability companies, and qualified personal residence trusts (QPRTs).
In addition, we specialize in providing services to clients going through a separation or divorce, including expedited preparation of revised wills and powers of attorney; analysis of any existing family trusts; and recommendations regarding trusts to facilitate marital property settlement agreements.
In formulating an estate plan for our client, we begin by discussing with the client his or her assets, family situation and goals. We then propose and explain alternative planning strategies, taking into consideration, among other factors, the client's asset mix, special family circumstances and needs, and the client's philosophy concerning issues such as using complex trusts to effect tax-efficient transfers over multiple generations, to transfer assets to children and grandchildren at discounted values, or to remove life insurance proceeds from the taxable estate. In all cases, our goal is to devise a carefully crafted estate plan that will efficiently carry out the client's wishes while minimizing or eliminating estate taxes.
When we assist a client in administering a trust or estate, or advise a beneficiary, our goal is to make the undertaking as easy and understandable for the client as possible, while ensuring that all issues of tax, fiduciary law, asset management, and family interactions are dealt with thoughtfully, thoroughly and efficiently.
Representative Activities and Services:
- Traditional estate planning: wills, revocable trusts, marital trusts and family trusts; beneficiary designations for retirement plans and life insurance; financial and health care powers of attorney
- Advanced estate planning vehicles: grantor retained annuity trusts (GRATs); family limited partnerships; qualified personal residence trusts (QPRTs)
- Income, estate and gift tax planning and advice
- Planning for clients in connection with separation and divorce
- Representation in tax controversies involving federal and state transfer tax issues
- Estate and trust administration
- Representation of estate and trust beneficiaries
For more information about our Trusts & Estates practice, please contact: Kay Schwartz at email@example.com.