Estate
Planning and Probate
Representative
Cases and Matters
Tax Planning
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Established limited liability companies to provide for the continuity of family businesses, obtain asset protection, and enable gifts of interests to be made to children, grandchildren and trusts for their benefit.
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Researched and implemented reporting positions on estate, gift and income tax returns to obtain the greatest overall tax savings.
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Worked with lenders to obtain short term financing for the timely payment of significant estate taxes where the estate consisted largely of real estate which the beneficiaries of the estate did not want to sell.
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Advised real property owners on the steps to implement tax-deferred like-kind
(“Starker”) exchanges
Trust Preparation
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Prepared charitable trusts and private foundations to enable families to achieve
Their charitable objectives during both their lifetime and in their estate planning
Documents.
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Prepared generation-skipping transfer trusts to enable clients to make gifts and bequests to their grandchildren.
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Established life insurance trusts to remove life insurance proceeds from the estate tax.
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Prepared education trusts designed to maximize the amount of education expenses that could be paid from the trust.
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Established special needs trusts for the benefit of disabled children.
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Provided legal counsel on the modification, reformation and termination of trusts found
Unnecessary or improper based on the needs of the beneficiaries.
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Served as ongoing counsel to the trustees of testamentary and inter vivos trusts, including life insurance trusts, generation-skipping trusts, QTIPS, GRATS, GRUTS, CRATS and
CRUTS.
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Prepared Qualified Personal Residence trusts (“QPRT’s”) to minimize estate and gift taxation of transfers of family
residence
Estate Planning
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Analyzed estate planning transactions, (including
GRATs, GRUTs, private annuities, or sales to grantor trusts) to accomplish tax and estate planning objectives.
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Prepared estate plans for non-U.S. citizens legally residing in the united States and owning property located inside and outside the united States.
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Prepared estate plans for non-married couples.
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Prepared equity-sharing agreements for unmarried co-owners of real estate.
Estate and trust administration
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Negotiated settlements of challenges filed against estates and disputes arising from creditors and dissatisfied heirs.
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conducted administration of estates and trusts with non-U.S. citizen beneficiaries and provided legal counsel on U.S. reporting requirements and the minimization of U.S. and foreign estate and income tax through treaty benefits and the use of “qualified domestic trusts”
(QDOTs).
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Served as ongoing counsel to trustees of supplemental needs trusts in order to maintain beneficiaries’ eligibility for public and private assistance benefits, and provided representation of the trustee before the Social Security administration with regard to challenges to the beneficiaries’ continued eligibility for benefits.
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Represented a disinherited spouse in making a spousal election against the estate of her deceased spouse where the deceased spouse’s will predated the marriage.
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Provided counsel to beneficiaries of an estate and advised them of their rights during the administration proceedings.
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Settled the estate of a decedent subject to the claims of an alleged daughter whose relation to the decedent was in dispute.
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Proper estate planning is critical to ensure that an individual’s assets may grow and be protected, and that Federal and state tax liability is minimized. Proper probate and trust administration is equally critical to see to it that an individual’s assets pass efficiently to his or her intended beneficiaries without unnecessary expense and delay. In this regard, our attorneys provide comprehensive legal services in estate planning and the administration of estates and trusts.
Maryland and D.C. Tax
Alert
For Maryland and DC residents, the amount you can leave to your heirs free of Federal and State estate tax used to be the same. In response to the rise of the Federal estate tax exemption to $1,500,000 in 2004, and $2,000,000 in 2006, Maryland and DC enacted legislation to decouple their state estate taxes from the Federal estate tax. In effect, Maryland and DC exemption amounts remain at $1,000,000 while the Federal exemption increases.
Many estate plans for married couples are intended to result in no estate tax upon the death of the first spouse. However, as a result of the Maryland and DC legislation, the terms of your will or living trust may no longer have that result. Estate plans should be reviewed and amended to avoid payment of unnecessary State estate tax.
Attorneys in our Estate Planning Department are available to discuss the impact these changes may have on your estate plan.
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Estate Planning
The foundation of any well designed estate plan is the will or revocable trust, as well as a financial power of attorney, health care power of attorney and living will or advance medical directive. Our professionals combine their experience in taxation, probate and trust law to develop, implement, and administer comprehensive estate plans to enable our clients to grow their assets, obtain protection from the claims of creditors and minimize Federal and state income and estate taxes. We are experienced in preparing estate plans for clients with modest assets as well as those with multi-million dollar estates.
The attorneys in the Estate Planning and Probate Group are also experienced with the special issues that exist in preparing estate plans for married couples in second marriages, as well as unmarried couples and same-sex couples. We represent foreign nationals and are therefore experienced with the unique estate planning and tax issues faced by these individuals. Additionally, we assist the families of children with special needs by establishing special needs trusts to protect the trust assets while preserving eligibility for government benefits. We are also experienced with the use of family limited partnerships, life insurance trusts, and “dynasty” trusts, as well as all of the other available options to reduce estate taxes and creditor claims.
Individuals also seek advice and counsel from our professionals when seeking to achieve charitable objectives by using charitable remainder trusts, charitable lead trusts, and Private Foundations. We understand the tax issues that arise from properly coordinating retirement benefits, stock options, and deferred compensation into an estate plan. Our professionals are also familiar with the range of issues faced by owners of real estate and closely held companies, as well as executives of publicly traded companies and self-employed individuals and professionals.
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Probate, Estate and Trust Administration
Our attorneys advise executors and trustees on all aspects of estate and trust administration, including the court supervised administration of a decedent’s estate known as “probate.” In addition to being experienced with the probate and trust rules of Maryland, Virginia, and the District of Columbia, we regularly advise executors and trustees (“fiduciaries”) so that they can fulfill all of their legal responsibilities regarding the administration of the estate or trust.
We advise fiduciaries as to the proper identification of lawful heirs and beneficiaries, as well as assisting in dispute resolution between rival claimants of property. We assist in the sale or disposition of property administered as part of an estate or trust and can prepare all manner of documents necessary to effect the transfer of good title.
Essential to the efficient administration of any estate or trust is the avoidance of unnecessary taxes, including income, estate and gift taxes, as well as less familiar excise and transfer taxes such as the generation-skipping transfer tax. Several of our firm’s attorneys and all of the principals in our Estate Planning and Probate Group have attained Masters Degrees in the laws of taxation, and are well-trained to devise the most tax-efficient strategies to administer an estate or trust.
We also have experience in representing beneficiaries, executors, and trustees in probate and trust litigation. While we generally avoid the expense and delays involved in litigation, our attorneys are skilled in the use of the judicial process if needed to resolve administration controversies such as will disputes or alleged breaches of fiduciary duties.
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Client Alert: 2010 Estate Tax Changes Have Dramatic Effect
Significant changes in the Federal tax law that took effect as of January 1, 2010, will dramatically affect the way an
individual’s property is taxed upon death. For decedents dying this year (2010), there is no Federal estate tax.
Changes in tax concepts as well as how they are applied mean there may be some question as to whether your property
will be distributed as you intended under your current documents. Click here for a printable fact sheet.
Significant changes in the Federal tax law that took effect as of January 1, 2010, will dramatically affect the way an
individual’s property is taxed upon death. For decedents dying this year (2010), there is no Federal estate tax.
Changes in tax concepts as well as how they are applied mean there may be some question as to whether your property
will be distributed as you intended under your current documents. Click here for a printable fact sheet.
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Other Information
Estate Planning and Probate
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Representative Cases and Matters
**Maryland and D.C. Tax Alert
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