Estate Planning through Wills, Trusts and Lifetime Giving

We prepare wills and trusts for our clients and build estate plans that accomplish our clients’ objectives. We are skilled at drafting documents that respond to the complexities of family life in the 21st century. For the high net worth client, we undertake sophisticated tax planning. All of our attorneys possess extensive experience in planning to reduce or eliminate estate, gift and generation-skipping transfer taxes.

A client may wish to make lifetime gifts to his or her loved ones. Such gifts can be very effective estate, tax and family planning tools. We assist the client in deciding whether a gift should be made outright or in trust, and advise the client on the ways in which the use of a trust may accomplish the client’s objectives. In some cases, we may recommend the use of a family limited partnership or similar entity to facilitate the client’s goals.

  • Wills and Revocable Trusts
  • Irrevocable Life Insurance Trusts (ILITs)
  • Installment Sales and/or Gifts to Grantor Trusts
  • Grantor Retained Annuity Trusts (GRATs) and Qualified Personal Residence Trusts (QPRTs)
  • Intra-Family Loans
  • Family Limited Partnerships (FLPs) and Family Limited Liability Companies (FLLCs)
  • Children's and Grandchildren's Trusts
  • Generation-Skipping Transfer (GST) Tax Planning
  • Qualified Domestic Trusts (QDOTs) for Non-Citizen Spouses
  • Special Needs Trusts for Disabled Beneficiaries
  • Tax Planning with Retirement Benefits
  • Powers of Attorney and Advance Medical Directives

Click below to view descriptions of our practice areas

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Charitable Gift Planning

We advise the client with charitable objectives on the full range of giving techniques, from an outright gift of cash or property to the creation of a charitable trust to the establishment of a private foundation or donor advised fund. We assist the client in analyzing the relative advantages of those techniques, in light of the client’s particular objectives and circumstances, and prepare the documents necessary to implement the client’s charitable plan.

For the client interested in charitable grantmaking, we assist with the formation and operation of private foundations and public charities. We also advise our clients on the use of donor advised funds and, where appropriate, assist in reviewing donor advised fund agreements and establishing those funds.

  • Private Foundations
  • Donor Advised Funds
  • Charitable Remainder Trusts (CRTs)
  • Charitable Lead Trusts (CLTs)
  • Charitable Giving with Retirement Benefits
  • Charitable Gifts of Art, Collectibles and Other Hard to Value Property
  • Outright Charitable Gifts
  • Other Charitable Giving Techniques

Estate and Trust Administration

We handle the full range of estate and trust administration matters.  We guide an executor of an estate from probate of the will, through the preparation of any estate and inheritance tax returns, to the distribution of the estate's assets.  We advise and assist executors and trustees with the following:

  • Probate Procedures
  • Federal and State Tax Laws Applicable to Estates and Trusts
  • Preparation of Estate Tax and Inheritance Tax Returns
  • Administration and Distributions of Estates and Trusts
  • Accounting to Beneficiaries
  • Other Estate and Trust Law Issues, Procedures and Litigation When Necessary

Estate Planning through Wills, Trusts and Lifetime Giving

We prepare wills and trusts for our clients and build estate plans that accomplish our clients’ objectives. We are skilled at drafting documents that respond to the complexities of family life in the 21st century. For the high net worth client, we undertake sophisticated tax planning. All of our attorneys possess extensive experience in planning to reduce or eliminate estate, gift and generation-skipping transfer taxes.

A client may wish to make lifetime gifts to his or her loved ones. Such gifts can be very effective estate, tax and family planning tools. We assist the client in deciding whether a gift should be made outright or in trust, and advise the client on the ways in which the use of a trust may accomplish the client’s objectives. In some cases, we may recommend the use of a family limited partnership or similar entity to facilitate the client’s goals.

  • Wills and Revocable Trusts
  • Irrevocable Life Insurance Trusts (ILITs)
  • Installment Sales and/or Gifts to Grantor Trusts
  • Grantor Retained Annuity Trusts (GRATs) and Qualified Personal Residence Trusts (QPRTs)
  • Intra-Family Loans
  • Family Limited Partnerships (FLPs) and Family Limited Liability Companies (FLLCs)
  • Children's and Grandchildren's Trusts
  • Generation-Skipping Transfer (GST) Tax Planning
  • Qualified Domestic Trusts (QDOTs) for Non-Citizen Spouses
  • Special Needs Trusts for Disabled Beneficiaries
  • Tax Planning with Retirement Benefits
  • Powers of Attorney and Advance Medical Directives

Litigation and Mediation of Disputes concerning Wills, Trusts and Estates

When disputes arise in estate and trust matters, we represent executors, trustees, beneficiaries and family members. We appear before courts throughout New Jersey and in alternative dispute resolution forums.

  • Disputes regarding Interpretation of Wills and Trusts
  • Disputes regarding a Trustee’s Administration of a Trust
  • Disputes regarding an Executor’s Administration of an Estate
  • Challenging Wills for Undue Influence, Lack of Testamentary Capacity and Other Grounds
  • Defending Wills from Challenges
  • Elective Share Claims and Spousal Rights
  • Fiduciary Accounting Matters
  • Guardianships

Formation and Operation of Charitable Organizations

We assist our clients with the formation and operation of tax-exempt charitable organizations, including public charities and private foundations. For clients forming a charitable organization, we assist with the preparation of all organizational documents, including the certificate of incorporation and by-laws, and assist with the preparation and filing of the organization’s application for tax-exempt status. We advise the existing organization on the many issues that may arise in the operation of a tax-exempt organization.

  • Public Charities
  • Private Foundations
  • Drafting and Filing of Organizational Documents
  • IRS Application for Tax-Exempt Status (IRS Form 1023)
  • Review of Private Foundation’s Annual Information Return (IRS Form 990-PF)
  • Advice and Assistance with Charitable Grantmaking
  • Advice and Assistance with Other Operational Issues and Concerns

 

Business Planning and Succession Planning

We assist our clients with the formation and operation of limited liability companies, partnerships, C corporations and S corporations. For clients with closely-held businesses, we assist them in establishing and implementing thoughtful business succession plans which accomplish their long-term personal and professional objectives. We prepare buy-sell agreements, including stock redemption agreements and cross purchase agreements.

  • Buy-Sell Agreements
  • Limited Liability Companies (LLCs)
  • Family Limited Partnerships (FLPs)
  • C Corporations
  • S Corporations
  • Lifetime Gifts of Closely-Held Business Interests
  • Coordination with Employee Stock Ownership Plan (ESOP) Advisors
  • Coordination, Review and Analysis of Business Valuations
  • Other Planning for Closely-Held Business Interests