With more than two decades of experience representing closely held business owners and high-net-worth individuals in estate planning matters, Andrea uses her team-focused approach when counseling clients on multifaceted estate and gift tax planning strategies.
Andrea is a partner in the firm’s Charlotte office, where she serves as co-chair to the firm’s fiduciary litigation practice. Through her extensive knowledge of the estate planning process and creative ability to navigate complex situations, Andrea successfully builds and maintains strong relationships with her clients.
Andrea advises on the ownership transition of family and closely held business entities. She partners with her clients and works collaboratively with their other advisers to implement tax-efficient strategies that preserve their businesses for successive generations.
Andrea is a fellow in the American College of Trust and Estate Counsel and a member of the North Carolina Bar Association Estate Planning and Fiduciary Law Section’s CLE committee, which she formerly chaired. She serves as regional chair of McGuireWoods’ Charlotte Women’s Leadership Network.
"I thoroughly enjoy getting to know my clients — how they have developed their business and created their wealth and their philosophy on wealth — so that I can provide them with practical advice on how to structure their plan consistent with their goals.
I know I have done my job when my clients shake my hand and say, ‘Thank you.'"
Served as counsel for First Charter Bank in North Carolina Court of Appeals case, COA 09-1232, First Charter Bank, Trustee, of the Last Will and Testament of Joseph F. Cannon v. American Children’s Home, et al., involving the construction of an ambiguous trust instrument and application of the virtual representation statute (NCGS Sections 36C-3-303 2nd 36C-3-304) in a case of first impression.
Advised family business owners and implemented gift planning to facilitate the transfer of ownership of the business to succeeding generations without the imposition of gift or estate taxes, resulting in the preservation of a family business valued in excess of $50 million.
Preparation and execution of numerous estate planning documents, including wills, revocable trusts and irrevocable trusts.
Evaluation of income tax issues of closely held business entities, including partnerships, LLCs and S-corporations.
Implementation of many sophisticated gift planning transactions and preparing and filing gift tax returns reporting the transactions.
Counsel on business transactions, including buying and selling businesses, structuring buy-sell agreements and forming joint ventures.
Representation of executors and trustees in fiduciary litigation, including estate and trust administration matters.
Assistance in forming a number of public charities and private foundations.
Representation of charitable organizations on Internal Revenue Code compliance.
Counsel regarding life insurance transactions.
Representation in the probate administration process and the preparation and filing of estate tax returns.
Selected for inclusion, Private Wealth Law, Band 2, North Carolina, Chambers HNW Guide, 2017, 2018
Selected for inclusion in The Best Lawyers in America, Tax Law, Trust and Estates, Woodward/White, Inc., 2012-2019
Named a “Legal Elite Women Attorney,” Business North Carolina, 2011-2014
Named to “Legal Elite,” Tax/Estate Planning, Business North Carolina, 2005, 2009, 2011-2014
Named to “North Carolina Super Lawyers,” 2011-2019; “Top 50 Female Lawyers,” 2012-2013; Tax and Estate Planning and Probate, Super Lawyers, Thomson Reuters
Fellow, American College of Trust and Estate Counsel, 2012
Recipient, Women in Business Achievement Award, Charlotte Business Journal, 2010
Fellow, American College of Trust and Estate Counsel
Board of Trustees, 2011-present; Chair, 2015-present; Chair, Foundation Committee, 2012-2015; Member, 2010-2015, Thompson Child and Family Focus
Cabinet of Professional Advisors, Foundation for the Carolinas, 2011-2013
Co-Chair, CLE Committee, 2012-2013; Member, 2011-present, Estate Planning and Fiduciary Law Section, North Carolina Bar Association
Member, 2012-present; Board Member 2017-present, Charlotte Estate Planning Council
Member, Joint Committee of the North Carolina Bar and Banker’s Association, 2008-present
Member, Mecklenburg County Attorney Grievance Committee, 2008-2011
Bloomberg Quotes Michael Barker, Andrea Chomakos on N.C. Trust Tax SCOTUS Case
April 19, 2019
McGuireWoods Earns Nationwide Ranking in Prestigious Chambers High Net Worth Guide
August 7, 2018
McGuireWoods’ Private Wealth Services Group Again Earns Top U.S. Rankings in Chambers High Net Worth Guide
September 19, 2017