Financial Services & Banking Law
Environmental & Land Use Law
Our firm provides estate planning services to clients at all levels of wealth. Our lawyers work with clients to understand family dynamics to identify their particular objectives before recommending tailored and comprehensive estate plans. We regularly work with family advisers, such as financial advisers, insurance professionals, CPAs, and corporate counsel, to provide an integrated and efficient approach to planning.
Services Provided
Estate and Trust Administration
Our attorneys can address every aspect of your probate or trust matters, paying careful attention to all aspects of the estate and working to minimize your estate taxes. Our expertise in probate administration includes:
- Guiding an executor regarding his or her responsibilities and duties
- Marshalling and distributing assets
- Preparing and filing all probate documents
- Preparing and filing all tax returns, including federal and state estate and gift tax returns
- Communicating and negotiating among family members
- Property valuation
Lawyers in our practice who specialize in this service area include:
Estate Administration
Probate is a court-supervised legal process by which the assets of a deceased person are distributed. Probate has two purposes–Paying of any debts, bills or taxes, and distributing assets to beneficiaries.
The Value of an Experienced Probate Attorney in the Administration Process
As your attorney we can provide complete support throughout the probate and estate administration process. We will advise and support you in navigating the process and will be by your side to enable you to achieve a successful and efficient probate process by:
- Filing the will in probate court
- Obtaining your appointment as executor
- Inventorying the assets and liabilities of the deceased
- Valuing and distributing assets to the beneficiaries or heirs
- Collecting all rights to income, dividends, etc.
- Assisting in liquidating property
- Settling disputes
- Help With the Distribution of Assets and Resolution of Tax Concerns
Lawyers in our practice who specialize in this service area include:
Trust Administration
Trust Administration (sometimes referred to as Trust Settlement) is different from the probate process. A trust is a legal contract between the maker (or grantor) of the trust and the beneficiaries. Trustees have the responsibility to make sure the trust is implemented correctly. The process of implementing the trust — making payments to beneficiaries and filing necessary accountings and tax returns — is what is known as Trust Administration or Trust Settlement. This process usually ensures that the beneficiaries will receive the assets as outlined in the trust. Sometimes this means a one-time, lump sum payment; sometimes, payment is over time. Sometimes payment may be of the income only. It all depends on what the trust document says. Trustees or family members should consult with an attorney to understand their obligations.
Lawyers in our practice who specialize in this service area include:
Business Succession Planning
Just as individuals need estate planning documents, so does your small business. Even if a substantial portion of an individual or a family’s wealth may be held in a small business, many small business owners fail to plan for the future and take steps to preserve the assets of the small business if the founder dies or becomes disabled. Too many small businesses “hope for the best” rather than “hope for the best and prepare for the worst.” Complicated family dynamics and the emotional connection that leaders and family members feel toward their companies can make it difficult to formulate a succession plan. Succession, however, is arguably the most critical issue a small business or a family business will face.
The best succession plans are prepared when family and other stakeholders can discuss the plan without the emotional stress of an unexpected death, disability, or personal issues. Besides starting early, several things need to be addressed while formulating a business succession plan.
- Successors: Successors could be an employee, family member, competitor, or a third party that might want a jumpstart to a successful business.
- Value of your Business: There are several ways to measure the valuation of a business based on its assets, its projected income, or on the market value of similar businesses, and an experienced accountant can help you put the right value on your business.
- Market Research: Can your business easily be sold to a third party? Or is the value wrapped up in and dependent on a single owner? Do some research to determine if there is a market for your business after you’re gone?
- Balance: It can be hard to let go of something you created, find the balance between retiring from the business and the need for control.
- Key Personnel & Confidential Information: Develop documentation to ensure retention of key personnel and protect confidential information or proprietary business data
- Training: A successful transition depends on adequate knowledge being shared about operations. Take the time to train the next generation thoughtfully.
- Estate Plan: If it is a family business that will be passed on to a single child, making sure that there is an estate plan in place that adequately protects the surviving spouse and fairly allocates estate assets to other heirs.
Lawyers in our practice who specialize in this service area include:
Tax Planning
Ignoring the tax aspects of your estate plan can be an extremely costly mistake. Our tax attorneys work in conjunction with our estate planning team to ensure our clients accomplish positive tax results.
Lawyers in our practice who specialize in this service area include:
Trust and Probate Litigation
Our litigation attorneys understand the emotional and legally complex issues that often arise among family members and work closely with our estate planning practice on a wide range of trust and probate disputes, including the following:
- Will contests
- Contested guardianships and conservatorships
- Removal of trustees or personal representatives
- Breach of fiduciary duty actions
- Trust administration disputes
- Termination or reformation of trusts
- Elder exploitation issues and constructive trust claims
- Partition actions
Lawyers in our practice who specialize in this service area include:
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