Securing assets in a trust on behalf of one party—often to benefit another—is desirable for important reasons: controlling taxation, planning against disability, avoiding probate and providing loved ones with financial security.
Be reminded: only an attorney knowledgeable in the current and changing law can successfully plan and administer a trust. Experience in this arena is invaluable. Our team of trust attorneys is comprised of veteran planners and administrators—all proven at managing assets effectively, all committed to sharing their knowledge with a new generation of attorneys.
Preparing tax-planning trusts is a rewarding aspect of our work, allowing us to significantly reduce death taxes, preserve lifetime income and ensure a well-balanced estate for each client through a variety of trust instruments, including irrevocable trusts, charitable remainder trusts and qualified personal residence trusts. We are knowledgeable about the taxes applicable to an ongoing trust and sophisticated in minimizing them. Creating a trust demands extensive conversation between the client and attorney. Deliberation predicates success, whether we are planning for tax reduction and the succession of trustees or administering a trust by handling personal affairs during disability or after death.
Because each trustee is personally liable for the debts of the trust, counseling is a critical element of trust administration, a complex orchestration of offering advice and seeking consent. We labor to communicate effectively for that reason, conscientiously advising trustees regarding all aspects of trust management, from handling investments, distributions and withdrawals to relating to beneficiaries. Many clients name their children or siblings as successor trustees—people who, when we first counsel them, are grieving. For the sake of all, we strive to establish a rapport with trustees while guiding them through their duties.
Douglas A. Hanson
Harry C. Benford III
John J. Pembroke
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