We offer consultation and complete assistance with the estate and trust administration process. We work closely with financial and other advisors to aid executors with the complexities involved in estate taxes, probate court matters, and the distribution of estate assets.
The passing of a loved one can create feelings of stress and turmoil in those left behind. Cognizant of the emotional state of our clients and the sensitivities that arise during this difficult time, we strive to ease at least the practical side of loss for the survivors. Many assets avoid probate at a person’s death because of trust ownership, beneficiary designation, or joint titling. We work with clients to coordinate all assets at a person’s death, not just probate assets.
With the help of our litigators, we also help resolve family disputes. We work with families to avoid litigation, but in some cases resolution can be obtained only through the courts.
We routinely assist clients with the following:
Creating and maintaining a basic estate plan is essential for clients at all income levels and stages of life. Whether one already has an estate plan in place or is just starting the process, there are a few basic elements that everyone should have in place to ensure that families and personal wishes are protected in the event of one’s death.
Our attorneys provide advice on the full range of estate planning matters, including:
Making the decision to distribute assets during one’s lifetime or to retain these assets until death has personal and tax implications. There are significant advantages and disadvantages on both sides of the decision that must be taken into consideration. We counsel our clients on the tax implications and nontax benefits of lifetime giving. We help individuals and families design a plan that maximizes tax savings while ensuring that they are financially able to cover their own cost of living and unforeseen medical expenses. We also prepare and file gift tax returns, or are available to consult with a client’s accountant who may be filing such returns.
For many individuals, the use of trusts as an estate planning tool has advantages not offered when passing down assets through the use of a will. Trusts not only can provide a fiscal advantage by reducing estate and gift taxes, but also can allow individuals to determine specific terms by which assets will be distributed at death, which can reduce the delay, expense, and complexity of probate court for heirs.
Our team of private wealth management attorneys helps clients understand the benefits and pitfalls of various types of complex trusts, including the following: