While nobody can plan for the unknown future, one of the most important gifts a person can give their loved ones is protection from the realities of the future, which may include death, divorce, lawsuits and disability. We provide individual solutions for estates large and small. Our attorneys are knowledgeable tax specialists with the skills and understanding to offer appropriate and creative solutions to a range of clients, whether a young couple with a modest estate and small children, or a retired entrepreneur with successful business enterprises and grandchildren to enjoy.
Simply stated, we draw from our experience to allow our clients to give their assets to whom they want, how they want, while minimizing the costs of taxes and administration.
Because of our years of practice developing estate plans, we are able to help our clients articulate their desires and concerns, and develop strategies to meet your goals. Through our knowledge, we are able to recommend the most appropriate and cutting edge techniques to accomplish those goals. With our skills, we are able to create detailed documents that give life to a planning idea. Once a plan has been put into place, our clients are able to rely on methodologies we have developed to be sure that the plan is perpetuated from year to year, and our cutting-edge practice to alert them to how changes in the law might effect their existing plans.
Because of our cross-specialization in tax and business planning, we are particularly well suited to effectively assist clients taxable estates of all sizes. Three of our attorneys hold a Masters of Law degree in taxation, while two are former auditors with the Estate and Gift Tax Division of the IRS. We confidently tackle the most challenging issues such as planning for closely held businesses, large retirement plans, non-citizens and second marriages to provide our clients with successful methods of maximizing what their heirs receive.
For many of our clients, no matter what size their estate, how their heirs receive assets is just as important, if not more so, then how much they receive. Parents with minor children are concerned that if their children receive money too soon, they will either waste it, be taken advantage of, or use it as an excuse not to reach their full potential. Parents with older children are concerned about the loss of family assets through divorce, taxes and lawsuits, and want to set aside funds for their grandchildren’s education or create a special fund for a disabled family member. We help our clients address these issues by designing trusts and using family limited liability companies to meet their unique needs.
There are a myriad of estate planning techniques that might meet a clients situation. Many are designated by their acronyms, GRATs to QTIPs, QPRTs to CRTs. Planning techniques that may have been appropriate in years past may not work as anticipated in the current economy with constantly changing tax laws. To find out about more about the alphabet soup of estate planning, and how to plan for an uncertain future, please contact Steven A. Loeb, Shareholder, of our Tax, Trusts and Estates and Elder Law Department to see how we can meet your personal needs.