Big firm sophistication. Small firm focus.

Trusts and Estates

Our business clients are seldom just businesses – they are people, families, whose ultimate motivators often have as much to do with love, duty, and gratitude as with profit and loss.  They are justly proud of their success, but the ability to provide for their spouses, children, and grandchildren – as well as the causes and institutions they support – anchors their pride. Kleinbard’s growing Trusts and Estates Group is dedicated to providing our clients with practical advice that is customized to meet their specific goals, family circumstances, and needs in a cost-efficient manner.  Our team has a wide-range of experience in representing clients at all levels of wealth and with varying family complexities.  We pride ourselves on being counselors to our clients and take a holistic and creative approach to estate planning, by analyzing the client’s individual, family and business needs to develop a comprehensive estate plan that preserves, protects, and grows wealth and minimizes tax consequences on asset transfers. We handle both simple and complex estate and trust administrations with a compassionate approach and offer creative cost-saving solutions. We advise executors, personal representatives, and trustees on all phases of administration for both estates and trusts, including required or permissible distributions, tax matters, fiduciary duties, accountings to beneficiaries, and many other aspects of fiduciary law.  

Digital Asset Planning

Trusts and Estates

Digital assets are a necessary but often overlooked part of an estate plan or business succession plan by many professional advisors.  Digital assets are not computers, devices, tablets, or external drives.  Digital assets are all the data, documents, communications, and information stored on computers and devices or in accounts maintained and accessed online.  Some digital assets can hold a monetary value, such as sponsored blogs, cryptocurrencies, or website domains, while others have priceless, sentimental value.  Pictures, videos, and emails from a loved one could be forever lost if the platform storing these items is not disclosed or if authorizations to access these assets are not included in estate planning documents.  However, not all digital assets are capable of being transferred, as many are subject to Terms of Service Agreements that only give the user a lifetime license in the asset.  Navigating this increasingly complex area requires helping clients understand what digital assets they have, and then analyzing if and how they can be accessed and transferred.  Properly planning for digital assets streamlines the transfer and disposal of digital assets that are capable of being transferred, reduces unnecessary delays, and helps safeguard against identity theft and cybercrimes.

 

 

Experience

We can assist clients in simple or comprehensive planning for digital assets.  Our experience includes:

  • Inventorying digital assets;
  • Including provisions that authorize or limit a fiduciary’s to digital assets in estate planning documents;
  • Establishing digital asset trusts;
  • Cryptocurrency planning;
  • Naming digital asset advisors in estate or business planning documents;
  • Forming a business to hold digital assets;
  • Advising on the storage of digital assets;
  • Implementing gifting strategies for digital assets;
  • Advising on the tax treatment of digital assets;
  • Drafting clauses to determine the future value of digital assets and who has the right to access such assets in Prenuptial and Postnuptial Agreements; and
  • Incorporating digital asset provisions in governance documents for a business

Trusts and Estates

Our business clients are seldom just businesses – they are people, families, whose ultimate motivators often have as much to do with love, duty, and gratitude as with profit and loss.  They are justly proud of their success, but the ability to provide for their spouses, children, and grandchildren – as well as the causes and institutions they support – anchors their pride. Kleinbard’s growing Trusts and Estates Group is dedicated to providing our clients with practical advice that is customized to meet their specific goals, family circumstances, and needs in a cost-efficient manner.  Our team has a wide-range of experience in representing clients at all levels of wealth and with varying family complexities.  We pride ourselves on being counselors to our clients and take a holistic and creative approach to estate planning, by analyzing the client’s individual, family and business needs to develop a comprehensive estate plan that preserves, protects, and grows wealth and minimizes tax consequences on asset transfers. We handle both simple and complex estate and trust administrations with a compassionate approach and offer creative cost-saving solutions. We advise executors, personal representatives, and trustees on all phases of administration for both estates and trusts, including required or permissible distributions, tax matters, fiduciary duties, accountings to beneficiaries, and many other aspects of fiduciary law.