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.  

Estate Planning

Trusts and Estates

Clients’ planning needs often change over time, as businesses and investments grow and mature, and as children do the same. College, marriage, grandchildren, careers, illness and recovery can all have major impacts on how clients deploy their wealth to enhance the lives of the people they love. These issues are as likely to keep them awake at night as any business challenge.

 

Experience

The heart of our Trusts and Estates Practice is meeting with clients at regular intervals over decades and generations, keeping abreast of family developments and making certain that estate plans are finely tuned to accomplish what our clients want for themselves and their families. We work with them to deploy the whole range of planning and transfer techniques, in order to make certain their wealth is used as they intend and in a tax-efficient manner, and to ensure they have good legal protection against catastrophic lifetime events, such as, serious illness.

Our experience includes managing:

  • Wills and inter-vivos trusts;
  • Effective use of spousal exemptions and lifetime credits;
  • Lifetime gifting programs;
  • Family limited partnerships;
  • Use of annual giving exclusions;
  • Life insurance planning, including insurance trusts and split-dollar insurance;
  • Multi-state and international estate and tax considerations;
  • Qualified personal residence trusts and other home transfer devices;
  • Estate freezes;
  • Low-interest intra-family loans;
  • Living wills and other medical decision documents; and
  • Lifetime powers of attorney in the event of legal incompetence.

Proposed Regulations on Valuation Discounts Could Impact Gift Planning

Valuation discounts are a critical feature of estate planning, especially for families whose closely-held businesses represents a piece of the family wealth. The basic idea is that a minority interest in a private business is actually worth much less than the minority percentage multiplied by the possible purchase price. ...More

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.