Estate Planning

Our attorneys have expertise in all aspects of creative estate planning, as well as the details of post-death planning and administration with special emphasis on:

• Customized gift and estate planning for high-net-worth individuals
• Representation of fiduciaries and beneficiaries in disputed estate and trust administration matters

In our estate planning practice, we prepare all documents including:

• Wills, living trusts, powers of attorney and irrevocable trusts
• Family limited partnerships and other vehicles to transfer wealth efficiently

In doing so, we pride ourselves on tailoring our estate planning services so that each client’s estate plan is customized to fit that client’s wealth, asset mix, family situation and planning goals.

For our clients with larger estates, we have developed planning approaches for specific assets including:

• Retirement plans
• Art collections
• Copyrights

We also assist with the preparation of gift tax returns to report the tax consequences of the lifetime gift planning we structure.

Trust and Estate Administration

Our practice group also counsels executors, administrators, trustees, guardians and conservators in matters of estate, trust, guardianship and conservatorship administration. These matters require the necessary attention to detail throughout the administration process, ranging from identification and valuation of assets, transferring title to those assets, and making distributions to beneficiaries of estates and trusts. Since one of the principal duties of a fiduciary during post-mortem administration is compliance, we also prepare, or assist in the preparation of, estate tax returns. We also counsel the fiduciary through the estate tax (or gift tax) audit process.

Trust and Estate Litigation

The "dispute" element of our practice combines the skills of MS&K’s Litigation Practice Group with the creative input of the members of the Trusts and Estates Department to take the lead in resolving such matters. We approach all disputed trust and estate matters cognizant of the additional emotional toll that such disputes can take on the litigants or potential litigants. With this in mind, our approach is to attempt to resolve these matters in as "low-key" a manner as possible, while prepared to take any steps necessary for our clients ultimately to prevail.

ESOP Services

We work with the owners of closely-held businesses to coordinate their estate planning objectives with planning for exiting the business and business succession. In some cases, the use of an Employee Stock Ownership Plan (ESOP) can effectively deal with business succession issues and, at the same time, accomplish meaningful tax benefits through the use of family limited partnerships and other such vehicles. Usually, this can be accomplished without selling to a third party. We can design and implement such a transaction and work with the client's other advisors, such as a stock appraiser, accountant and plan administrator. See our Tax Practice description for a more complete summary of our ESOP services.

Representative Trusts & Estates Matters

• Represented one of two heirs to the Vargas Estate, winning ownership of half of the physical collection of "pin-up" artwork and the related copyrights and licensing rights, valued at over $10 million dollars.

• Represented the Estate of Armand Hammer in connection with litigation concerning the distribution of his estate among heirs, putative heirs and charitable institutions.

• Represented the Philippine administrator of the Estate of Ferdinand Marcos in U.S. litigation over the proper venue for administration of the Estate, rights to property and other matters.

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