JF&A attorneys offer substantial expertise in the development of plans for the transfer of wealth, during life and at death, in a manner designed to respect and implement the client’s personal objectives while also addressing federal and state transfer tax issues.
Examples of such wealth transfer plans include:
- Revocable living trusts, wills, durable powers of attorney for asset management, and advance health care directives
- Lifetime gifting strategies
- Life insurance planning
- Strategies for the transfer of retirement and deferred compensation plans
- Disclaimer and other post-mortem planning
- Qualified personal residence trusts
- Strategies to “freeze” the value of appreciating assets
- Planning for the federal estate tax marital deduction including preparation of lifetime and testamentary QTIP trusts (and QDOT trusts for non-citizen spouses)
- Generational trust planning for the tax efficient transfer of wealth to grandchildren and more remote descendants
- Charitable planning, which may include charitable remainder trusts, charitable lead trusts, and private foundations
Attorneys of the firm also have significant experience advising trustees, executors and beneficiaries, while working collaboratively with each client’s tax, investment and other professional advisors, in the administration of trusts and estates. These services include all aspects of administration, such as the inventory and valuation of assets, issuance of statutory notices, responding to creditors, reviewing and/or preparing gift and estate tax returns and other tax filings, allocating and distributing assets, and the preparation of accountings and other reports, asset transfer documents, and necessary court filings.