We work with business owners to ensure the well-managed transfer of a family
business to the next generation, while reducing taxes, maintaining family
harmony, and providing business continuity. We have been a leader in establishing
and working with family limited partnerships and LLCs. We regularly employ
grantor-retained annuity trusts (GRATS), intentionally defective irrevocable
trusts (IDITS) and other sophisticated freeze techniques. Where applicable,
we employ and establish asset protection trusts.
Estate tax reduction strategies have led us to implement qualified personal
residence trusts (QPRTS), and various types of QTIP arrangements including
contingent QTIPS, Clayton QTIPS, conventional QTIPS and lifetime QTIPS. We
often utilize life insurance to ensure the liquidity of estate trusts; depending
on the circumstances, we may employ irrevocable life insurance trusts, including
Dynasty trusts in various states.
We advise clients relative to traditional methods of giving, including gift
annuities and charitable trusts, as well as specialized means to achieve
specific philanthropic goals, including establishing and administering corporate
or private foundations.
We work with members of our litigation practice to defend and contest trusts,
wills, deeds, and other conveyances for improprieties due to undue influence,
lack of mental capacity, and other issues that could call the validity of
the instrument or conveyance into question.
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