Estate and Wealth Transfer Planning

• Represents business owners and individuals for their estate planning needs, including:
  • tax planning (income, gift and estate)
  • gift and estate tax litigation
  • asset protection
  • multi generational planning
  • implementing gift trusts and family limited liability companies to maintain family ownership of heirloom assets
  • developing plans to transfer ownership of family businesses to next generation owners on a tax-advantaged basis using techniques such as GRATs, life insurance trusts, and sales to grantor trusts
  • drafting prenuptial agreements to protect family businesses, heirloom assets and wealth
  • estate tax planning for non-US citizens and resident aliens

Vacation Home Planning

• Represents individuals and cottage associations to develop agreements and policies establishing rules for transfer, use and maintenance of vacation homes by multiple parties.

Business Succession Planning

• Assists owners of closely held businesses with succession planning. Representation includes drafting plans for transfer of ownership to the next generation, agreements establishing rules for transfer of interests, and drafting policies setting forth rules for employment of family members.

Estate/Trust Administration

• Provides a full range of post-death estate settlement and trust administration, including the administration and tax planning for decedents’ estates, preparation of estate tax returns, income tax returns and fiduciary accounts, and handling of IRS audits and valuation disputes. Successfully negotiated settlement with IRS on gift/estate tax audits resulting in:
  • Recognition of family owned LLCs for gift purposes
  • 22.5 percent discount for partial interests in real property
  • 20 percent combined discount for marketable securities LLC
  • Full estate tax deduction for interest on Graegin notes
  • 35 percent combined discount for marketable securities limited partnership
  • Defined value formulas in gifts and sales respected by the IRS