Advanced Estate
Planning

Estate Tax Planning

Navigating the complexities of estate taxation requires a thorough understanding of current laws and regulations. Our knowledgeable attorneys will work with you to develop effective strategies to minimize estate taxes, utilizing tools such as gifting, generation-skipping trusts, dynasty trusts, gifting plans, Spousal Lifetime Access Trusts (SLATs), Intentionally Defective Grantor Trusts (IDGTs) and Irrevocable Life Insurance Trusts (ILITs).

Spousal Lifetime Access Trusts (SLATs)

We assist clients in establishing SLATs that are tailored to their specific needs and objectives.  SLATs offer significant tax planning opportunities. Our team helps you take advantage of the gift and estate tax exemptions, maximizing the transfer of assets to the trust while reducing potential tax liabilities. We work diligently to ensure that your SLAT complies with relevant tax laws and regulations, allowing you to pass wealth to your chosen beneficiaries in a tax-efficient manner, while providing asset protection from potential creditors or legal claims.

Intentionally Defective Grantors Trusts (IDGTs)

We assist clients in establishing IDGTs, which are designed to be treated as owned by the grantor for gifting and estate tax purposes but the grantor is treated as the owner of the trust for income tax purposes. IDGTs offer significant estate and gift tax planning advantages. We help you leverage the tax benefits of IDGTs, including discounted asset valuation and the payment of income taxes by the grantor, which further reduces the taxable estate. Our team ensures that your IDGT is structured in compliance with tax laws, maximizing tax savings for future generations.

Irrevocable Life Insurance Trusts (ILITs)

We assist clients in establishing ILITs to hold life insurance policies outside of their taxable estate. Our attorneys guide you through the process of creating and funding the ILIT, ensuring that the trust is the policy owner and beneficiary, thereby maximizing estate tax savings. By placing life insurance policies in an ILIT, you can provide liquidity to your estate while minimizing estate taxes. Our team helps structure ILITs to meet your specific needs, ensuring that the trust operates in compliance with tax laws and regulations, allowing your beneficiaries to receive the proceeds tax-free.