Our firm has particular depth of experience with Estate, Gift and generation skipping transfer tax planning. In planning for individual clients, family groups, their related business matters and charitable efforts. For wealthier clients all three of these taxes, along with income taxes, affect the planning and require coordination in order to properly achieve optimum results.
For decades, our Trusts and Estates lawyers and our Tax lawyers have collaborated in providing the best advice possible so that the resulting courses of action reflect both the individual and family intentions and tax efficient means of carrying out those intentions.
The advantages of this sort of collaboration shows not only in the basic planning with wills and trusts, but also in trust mechanisms for making gifts, such as charitable lead trusts, charitable remainder trusts, grantor retained annuity trusts, intentionally defective grantor trusts, qualified personal residence trusts, and charitable foundations. Throughout all of this planning, the opportunity to achieve tax savings for later generations is at work through proper GST planning.