Estate Planning
Our attorneys in the estates and trusts practice of Kozloff Stoudt concentrate on estate planning, probate, trust law and related areas of taxation. We offer services in key areas that cover a broad range of needs for our clients. Advice to executors, trustees and other fiduciaries constitutes and fiduciaries side of our practice. Advice to individuals on the personal, practical and legal aspects of preserving, managing and transferring wealth represents the personal counseling side of our practice. We are involved with fiduciaries and fiduciary litigation as well as issues related to tax exempt entities for individual and foundation clients. However, even in this age of highly focused legal practitioners, we still often fill the traditional role of the family counselor who deals with a vast range of personal as well as legal questions.
We have extensive experience developing sophisticated estate and wealth preservation plans for wealthy individuals and families. These plans are designed to reduce potential tax burdens within the content of the client’s overall estate planning objective. We use sophisticated planning vehicles tailored to each client, including specialized trusts, family-limited partnerships, limited liability companies, and private charitable foundations.
Employee benefits are at the core of an executive’s wealth. We frequently work with these executives on estate planning for stock option plans, employee stock ownership plans (ESOPs), retirement benefits, compensation plans, restricted stock and fringe benefits, and compliance with relevant securities law.
With private and closely held companies, thoughtful, creative estate planning is required to achieve the client’s objectives. We counsel owners of these businesses on alternatives for transferring ownership and control to the next generation, and in solving liquidity concerns associated with estate taxes.
As the tax law affecting closely held businesses change, we continually develop new techniques for the smooth transfer of management and ownership. Our lawyers have recapitalized corporations and established partnerships that facilitate the transfer of the older generations’ business interests thereby insulating substantial asset value from federal and state death taxes.
Our firm represents numerous larger estates and trusts, many of which involve portfolios with such diverse and complex assets as art collections, closely held business interest’s real estate held for development. We assist in the administration and management of all types of estates and trusts, and counsel the beneficiaries in regard to tax saving techniques. At Kozloff Stoudt, our partners also can serve as executors or trustees when appropriate.
