Trusts & Estates

The Trusts & Estates Practice Group at Genova Burns specializes in assisting clients in considering and implementing life-long estate planning to minimize tax obligations, preserve wealth and to provide for effective and strategic wealth distribution in accordance with one’s objectives. The group is experienced with the preparation and execution of complex wealth transfer and estate management techniques.

Our attorneys provide elder law planning guidance that helps protect the financial and physical security of older adults so that their wishes will be followed during their lifetimes and beyond. We want to ensure that our clients know that in the event of a crisis, those they love will be protected and will also know how to protect them.

Genova Burns also provides legal representation in the administration of estates; including the conduct of uncontested and contested probate, handling the processes by which debts are paid and assets are distributed, tax compliance is implemented and post mortem tax strategies are considered.

Additionally, our tax planning practice helps clients choose the most tax efficient structure that meets the needs of their businesses, investments or other financial concerns. We are regularly asked to analyze the tax consequences of a variety of business and personal transactions, explore alternative possibilities, then develop, negotiate and help implement sophisticated tax reduction strategies that take advantage of appropriate planning opportunities.

This practice’s services include:

  • Wills (simple and complex)
  • Living trusts
  • Charitable giving trusts
  • Irrevocable gift trusts
  • Generation skipping trusts
  • Life Insurance trusts
  • Income and annuity trusts
  • Family limited partnerships (FLPs)
  • Private Annuities
  • Business succession planning
  • Qualified Personal Residence Trusts (QPRTs)
  • Grantor retained annuities (GRAT)
  • Qualified terminable interest property (QTIP)
  • Credit shelter planning
  • Children’s trusts
  • Gift Tax Exclusions Trusts (Crummey Trusts)
  • Intentionally defective grantor trusts
  • Business formation planning and selection
  • Sales, purchases, mergers & acquisitions
  • Buy/Sell Agreements
  • Health and long-term care planning
  • Medical or healthcare directives (living wills)
  • Probate of wills and appointment of fiduciaries
  • Post mortem tax planning to minimize estate and income taxes for the estate and its beneficiaries
  • Collection of decedent’s assets
  • Payment of debts
  • Trust funding and asset distribution
  • Managing fiduciaries and trustees
  • Timing and structure of sale or disposition of estate assets, to include business interests
  • Preparation of Federal and State death tax returns
  • Calculation and payment of estate taxes
  • Will contests and other estate administration controversies
  • Corporate reorganizations
  • Business succession planning
  • Planning for qualified retirement plan and IRA distributions
  • Sales of assets to intentionally defective grantor trusts
  • Guardianship
  • Conservatorships
  • Powers of attorney
  • Surrogate decision-making

Visit the Trusts & Estates Blog

Contact: Judson M. Stein, Esq.
Chair, Trusts & Estates Practice Group