Private Wealth Services

McGuireWoods LLP’s private wealth services team is focused on the unique needs of high net worth clients, providing comprehensive service to private clients across the globe. The depth and breadth of our experience, our presence in strategic domestic and international markets, and our dedication to shaping the wealth services landscape allow us to serve clients efficiently and effectively.

Private Wealth Services Team Overview

Our Private Wealth Services experience includes the following:

  • Tailoring estate plans to the needs of family members in all generations
  • Developing creative and effective techniques to transfer wealth on a tax-efficient basis even as the laws change
  • Advising clients on succession issues in family businesses
  • Drafting pre-nuptial and post-nuptial agreements and assisting in all aspects of marital dissolutions
  • Helping clients with asset-protection strategies, both onshore and offshore
  • Advising on cross-border tax issues
  • Assisting corporate executives in minimizing taxes
  • Creating charitable foundations
  • Helping clients establish and operate family offices and private trust companies

Members of the private wealth services group are active in developing and analyzing the estate planning, tax, family law, and probate issues affecting clients. At the national level, our lawyers contribute to the formation of tax policy by participating in the development of legislation, regulations and groundbreaking rulings, and often publish articles concerning trends and changes in the law. We are well positioned to serve local and national needs involving effective planning, aggressive prosecution of tax and fiduciary controversies, and resolution of policy matters at all levels.

Chambers, the international rating service for attorneys, has ranked the Private Wealth Services Group as one of the top wealth management legal practices in the United States for several years, and has specifically highlighted the capabilities of Ronald D. Aucutt, Dennis I. Belcher, Charles D. "Skip" Fox IV and John B. O’Grady. According to Chambers:

“This firm is much admired for the depth and breadth of its private client practice. Clients truly appreciate the firm's particular attention to client service as well as the extensive knowledge offered by its superb team.”

Chambers’ rankings are based on thousands of interviews of clients and legal peers conducted by a team of more than 50 full-time researchers. The greatest weight in the interviewing process is placed on the views of clients. The qualities on which law firms and individual practitioners are assessed include technical legal ability, professional conduct, client service, commercial astuteness, diligence, commitment, and other attributes most valued by the client.

See the following practice areas for more information:

CONTACTS

Ronald D. Aucutt Partner T: +1 703 712 5497
Charles D. Fox IV Partner T: +1 434 977 2597
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RESULTS DEPEND ON A VARIETY OF FACTORS UNIQUE TO EACH CASE. PRIOR RESULTS DO NOT GUARANTEE OR PREDICT A SIMILAR OUTCOME.

Representative Matter

Advice related to private wealth management

Provide advice to a NBA player on private wealth management following a $20 million, 3-year deal with a NBA team.
Representative Matter

Failed fund leads to FINRA arbitration for Fortune 500 bank client

Representation of a Fortune 500 financial institution in a suit related to their ultra-high-wealth unit. Bank recommended that claimants purchase shares in an alternative investment fund as part of their overall diversified investment strategy. After that fund failed, claimants initiated a FINRA arbitration against the bank alleging breach of contract, breach of fiduciary duty, negligence, and fraud. Claimants agreed to JAMS arbitration after the bank moved to dismiss for lack of FINRA jurisdiction. A three-day arbitration hearing was held, focusing on the bank's due diligence performed prior to recommending fund to claimants and the appreciation of claimants’ investment portfolios despite the fund's failure and the financial crisis. Panel awarded claimants zero damages.
Representative Matter

Lawyers and accountants

Assisted lawyers and accountants nationwide in obtaining difficult rulings, audit results, or other favorable outcomes from the Internal Revenue Service.
Representative Matter

Four generations of family members

Represented four generations of family members in estate planning, estate administration, trust administration, investment management, construction projects, real estate issues, alternative energy issues, family business succession, charitable giving and other matters for over 30 years.
Representative Matter

Major trade organization

Advised major trade organizations on tax issues affecting banks and trust companies in the fiduciary income tax and estate, gift, and generation-skipping tax areas.
Representative Matter

Major trade organization

Represented major trade organization in a variety of projects including teaching at national trust and graduate trust schools, preparing and updating instructional books and on-line instructional materials, conducting monthly teleconferences for trust professionals for over ten years, conducting webinars, and presenting on different topics at national meetings.
Representative Matter

Trustee

Obtained permission from the IRS to file a Form 8939, Allocation of Increase in Basis for Property Acquired From a Decedent, after its January 17, 2012, due date.
Representative Matter

High net worth individuals

Assisted in the formation of private trust companies despite the lack of Treasury-IRS guidance.
Representative Matter

Bankers association

Presentation of annual seminar for regional bank association on estate and gift tax issues
Representative Matter

Diversified financial services provider

Advice on environmental compliance policies of corporate trust department
Representative Matter

Privately owned bank

Provide advice on appropriateness of investments in particular private equity funds
Representative Matter

Trust operations of a mid-size bank

Performed a variety of services for trust operations of a mid-size bank in the mid-Atlantic Region.
Representative Matter

Provider of asset administration and trust and fiduciary services

Contributed to the prevention of the issuance of overly burdensome Treasury or IRS guidance through public and private participation in the comment process.
Representative Matter

High net worth individuals

Obtained an IRS letter ruling allowing a conversion of a marital trust to a “unitrust” measuring the annual payout by a graduated scale of percentages of value, elaborating the standard in the regulations.
Representative Matter

High net worth individuals

Obtained an IRS letter ruling favorably addressing the overlap between the charitable and marital estate tax deductions in a sophisticated flexible estate plan.
Case Study

McGuireWoods obtains denial of injunction in asian carp case

McGuireWoods recently represented a coalition of Illinois business trade associations in challenging the efforts of other Great Lakes states to obtain an injunction to force the U.S. Army Corps of Engineers to close the Chicago locks as a means to halt the migration of Asian carp into the Great Lakes.

Case Study

McGuireWoods represents the Civil War Preservation Trust in partition suit

McGuireWoods tried a partition suit in Amelia County, Va., Circuit Court for the Civil War Preservation Trust. The trust sought to acquire outstanding interests in property it had purchased in Amelia County. The entire tract will be donated to the Commonwealth of Virginia to enlarge the Sailor's Creek Battlefield Historical State Park. The firm represented the trust on a pro bono basis.

Representative Matter

Trustee

Obtained letter rulings from the Internal Revenue Service to facilitate the division, reformation, or early termination of long-term trusts with assets valued in excess of $100 million.
Representative Matter

Individual Estate

Obtained a series of favorable letter rulings from the Internal Revenue Service to facilitate the termination of a long-term trust and its succession by a limited liability company, in order to continue intact a business with assets valued in excess of $1 billion.
Representative Matter

High net worth individuals

Obtained an IRS letter ruling elaborating the exception in the regulations from the special valuation rules applicable to stock repurchase agreements when less than half of the stock is owned by family members.
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Hed Amitai Hed Amitai
Partner
11 Pilgrim Street
London EC4V 6RN
United Kingdom

T: +44 20 7632 1609
F: +44 20 7632 1638
vCard
Ronald D Aucutt Ronald D. Aucutt
Partner
1750 Tysons Boulevard
Suite 1800
Tysons, VA 22102-4215

T: +1 703 712 5497
F: +1 703 712 5286
vCard
Michael H Barker Michael H. Barker
Associate
Gateway Plaza
800 East Canal Street
Richmond, VA 23219-3916

T: +1 804 775 1679
F: +1 804 698 4675
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Kevin Bender Kevin G. Bender
Associate
Gateway Plaza
800 East Canal Street
Richmond, VA 23219-3916

T: +1 804 775 7624
F: +1 804 698 2224
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Lucius H Bracey Jr. Lucius H. Bracey Jr.
Counsel
Court Square Building
310 Fourth Street, N.E.
Suite 300
Charlottesville, VA 22902-1288

T: +1 434 977 2515
F: +1 434 980 2252
vCard
William F Branch William F. Branch
Attorney
Gateway Plaza
800 East Canal Street
Richmond, VA 23219-3916

T: +1 804 775 7869
F: +1 804 775 1061
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Benjamin S Candland Benjamin S. Candland
Partner
Gateway Plaza
800 East Canal Street
Richmond, VA 23219-3916

T: +1 804 775 1047
F: +1 804 225 5341
vCard
Jean Gordon Carter
Partner
434 Fayetteville Street
Suite 2600
Raleigh, NC 27601

T: +1 919 755 6684
F: +1 919 755 6609
vCard
Anitra T Cassas Anitra T. Cassas
Partner
Gateway Plaza
800 East Canal Street
Richmond, VA 23219-3916

T: +1 804 775 4727
F: +1 804 698 2000
vCard
Douglas W Charnas Douglas W. Charnas
Partner
2001 K Street N.W.
Suite 400
Washington, DC 20006-1040

T: +1 202 857 1757
F: +1 202 828 2980
vCard
Andrea Chomakos Andrea C. Chomakos
Partner
201 North Tryon Street
Suite 3000
Charlotte, NC 28202-2146

T: +1 704 373 8536
F: +1 704 353 6194
vCard
Larry J Dagenhart Larry J. Dagenhart
Counsel
201 North Tryon Street
Suite 3000
Charlotte, NC 28202-2146

T: +1 704 343 2010
F: +1 704 444 8725
vCard
Adam M Damerow Adam M. Damerow
Partner
77 West Wacker Drive
Suite 4100
Chicago, IL 60601-1818

T: +1 312 849 3681
F: +1 312 698 4553
vCard
Julienne DeWalt Julienne N. DeWalt
Associate
Gateway Plaza
800 East Canal Street
Richmond, VA 23219-3916

T: +1 804 775 7684
F: +1 804 698 2242
vCard
W. Birch Douglass III W. Birch Douglass III
Counsel
Gateway Plaza
800 East Canal Street
Richmond, VA 23219-3916

T: +1 804 775 4315
F: +1 804 698 2043
vCard
Abby Farnsworth Abbey L. Farnsworth
Associate
Gateway Plaza
800 East Canal Street
Richmond, VA 23219-3916

T: +1 804 775 4782
F: +1 804 698 2147
vCard
Charles D Fox IV Charles D. Fox IV
Partner
Court Square Building
310 Fourth Street, N.E.
Suite 300
Charlottesville, VA 22902-1288

T: +1 434 977 2597
F: +1 434 980 2280
vCard
William Gray J. William Gray Jr.
Partner
Gateway Plaza
800 East Canal Street
Richmond, VA 23219-3916

T: +1 804 775 7683
F: +1 804 698 2162
vCard
Kristen Frances Hager Kristen Frances Hager
Partner
Gateway Plaza
800 East Canal Street
Richmond, VA 23219-3916

T: +1 804 775 1230
F: +1 804 698 2071
vCard
Christina S. Hammervold
Associate
77 West Wacker Drive
Suite 4100
Chicago, IL 60601-1818

T: +1 312 849 8213
F: +1 312 698 4536
vCard
Harold Hancock Harold Hancock
Partner
2001 K Street N.W.
Suite 400
Washington, DC 20006-1040

T: +1 202 857 2913
F: +1 202 828 3324
vCard
Kelly L Hellmuth Kelly L. Hellmuth
Counsel
Bank of America Tower
50 North Laura Street
Suite 3300
Jacksonville, FL 32202-3661

T: +1 904 798 3434
F: +1 904 360 6310
vCard
Nicholas Heuer Nicholas J. Heuer
Associate
77 West Wacker Drive
Suite 4100
Chicago, IL 60601-1818

T: +1 312 849 3654
F: +1 312 698 4549
vCard
Meghan L Gehr Meghan Gehr Hubbard
Associate
Gateway Plaza
800 East Canal Street
Richmond, VA 23219-3916

T: +1 804 775 4714
F: +1 804 698 4676
vCard
Melissa Kreager Melissa L. Kreager
Attorney
201 North Tryon Street
Suite 3000
Charlotte, NC 28202-2146

T: +1 704 343 2039
F: +1 704 373 8839
vCard
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Event

12th Annual Fiduciary Advisory Services Seminar

Issues Confronting Institutional Fiduciaries

Wednesday, October 4, 2017
Chicago, IL
Event

Tax Reform Behind the Headlines

Challenges and Opportunities for Charities

June 6, 2017
Event

New Developments in Tax and Wealth Planning Seminar

Tuesday, April 25, 2017
Charlotte, NC
Event

Post-Election Program

November 10, 2016
Complimentary Webinar
Event

Hot Topics in Employee Benefits

November 10, 2016
Complimentary Webinar
Speaking Engagement

35th Annual Trusts and Estates Seminar

October 27, 2016
VA
Event

New Developments and Wealth Planning

October 26, 2016
Richmond, VA
Event

14th Annual Nonprofit Seminar - Staying Current in a Changing Landscape

September 28, October 18, November 2 & 3, 2016
Richmond and Charlottesville, VA; Charlotte and Raleigh, NC
Event

11th Annual Fiduciary Advisory Services Seminar

October 5, 2016
Chicago, IL
Event

Proposed Section 2704 Regulations

August 11, 2016
Complimentary Webinar
Event

New Developments in Tax and Wealth Planning

April 19, 2016
Charlotte, NC
Event

Top 10 Estate Planning and Estate Tax Developments of 2015

January 26, 2015
Charlotte, NC
Event

New Developments in Tax and Wealth Planning

October 22, 2015
Richmond, VA
Speaking Engagement

34th Annual Trusts and Estates Seminar

October 20, 2015
Event

13th Annual Nonprofit Seminar – Staying Current and Avoiding Trouble: What Nonprofits Need to Know

September 15 and 30; October 14, 2015
Richmond and Charlottesville, VA; Charlotte, NC
Speaking Engagement

M&A Solutions for Privately Held Companies

October 7, 2015
Charlotte, NC
Speaking Engagement

Non-Profits and Associations Forum

May 12, 2015
Washington, DC
Event

New Developments in Tax and Wealth Planning

October 22, 2014
Richmond, VA
Results 1-20 of 46
Results 1-20 of 315
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Publication

Estate Tax Changes Past, Present and Future

McGuireWoods LLP
June 2017 (updated)
Legal Alert

The WannaCry Cyberattack: Steps Businesses Must Take Now

Password Protected
May 15, 2017
Legal Alert

Recent Cases of Interest to Fiduciaries

May 8, 2017
Legal Alert

Brexit - UK Files for Divorce From European Union

What Should Companies Do Now to Prepare?

March 29, 2017
Legal Alert

Reminder: ATED Returns Are Due in April

February 13, 2017
Publication

State Death Tax Chart

January 2017 (revised)
Results 1-20 of 315