McGuireWoods lawyers serve individual clients who seek to transfer assets efficiently to their chosen beneficiaries. As a part of our private client and estate planning services, we help clients consider the impact of federal income, estate, gift and generation-skipping transfer taxes on the transmission of wealth. We develop and implement strategies that can achieve tax savings by establishing trusts for the benefit of family members. Our lawyers also advise individuals and families about the many forms of charitable giving that may be used to reduce taxes.
Our lawyers assist our business clients in transferring ownership and control of their businesses efficiently, using restrictive shareholder and partnership agreements, reorganizations of corporations, and operating agreements of limited liability companies (LLCs), among other strategies.
Additionally, we help clients provide for the special needs of family members, protect the family assets, and assure professional management of these assets. We also provide guidance on premarital and marital dissolution planning.
In the area of estate and trust administration, we advise executors and trustees, guiding them in all aspects of their fiduciary responsibilities. We regularly counsel clients on related income taxation, as well as gift and estate taxation. With respect to wills and trusts, we represent clients in matters pertaining to their interpretation, litigation and resolution. Furthermore, we rigorously defend valuation and tax audits of estates by the Internal Revenue Service.
What Kaestner Decision Means for State Income Taxation of Trusts
June 25, 2019
North Carolina Adopts New Power of Attorney Statute
December 1, 2017
Maryland Allows Use of Nonjudicial Settlement Agreements in Trust Administration
March 24, 2017
Tax Court Case Demonstrates IRS’ Vigorous Pursuit of Trust Fund Recovery Penalty
November 8, 2016
New Developments in Estate and Gift Tax Valuation Cases
July 15, 2015