Transfer Tax, Personal Income Tax and Charitable Gift Planning
We advise high net-worth families in relation to transfer tax and intergenerational wealth preservation planning, including estate tax, gift tax, GST tax, and charitable gift planning. In addition to providing advice in relation to transfer tax savings through the use of vehicles such as GRATs, CLATs, CRUTs, NIMCRUTs, defective grantor trusts, discounted sale planning, and other techniques, our team also has substantial experience in structuring intergenerational planning in the context of hedge fund and private equity fund formation, corporate mergers and acquisitions, and other liquidation or monetization events. In addition to transfer tax planning for our clients, we also advise on income tax opportunities, and thus have assisted our clients in reducing state income tax liability, maximizing the utility of losses, and similar issues.
Trust and Estate Litigation, Fiduciary Representation, Estate Administration and Probate
Estate administration involves the management and valuation of the decedent’s assets, the continuation or disposition of closely held businesses and investments, the payment of debts, and the filing of final income tax and gift tax returns. Our team prepares estate tax returns and handles estate tax audit examinations. We provide advice and counsel with regard to post-mortem planning opportunities such as the use of disclaimers, the timing of distributions and the deferral of tax payments. We represent corporate fiduciaries in all aspects of estate and trust administration.
Our Private Clients team includes adept trust and estate litigators who handle contested probate, spousal right of election, will construction and reformation, and contested accounting and claims proceedings. Our lawyers often appear before the Internal Revenue Service and state departments of taxation.
Family Office Advisory Services
We act as consultants to family offices and work with them to implement and operate multigenerational legal structures, private trust companies, and investment partnership structures. By understanding the family and its objectives, we can provide a thoughtful evaluation of strategic alternatives and develop a plan that accomplishes the family’s multigenerational objectives.