McAfee & Taft provides estate planning advice and other services to some of the wealthiest families in the country. Generally, our Family Wealth services include careful planning for the management and disposition of assets to meet the client’s objectives while minimizing adverse effects of taxes, family disagreements, lawsuits and other factors.
Our tax planners regularly employ a number of sophisticated techniques and strategies, including:
- Creating family partnerships, corporations and other entities to achieve such goals as estate freezing, splitting of income, wealth shifting to younger generations and insulation from liability
- Grantor retained annuity trusts
- “Intentionally defective” irrevocable trusts
- Inter vivos revocable trusts
- Generation-skipping trusts
- Split-interest charitable remainder or lead trusts
- Rearranging assets among spouses to ensure the best utilization of tax and non-tax factors
- Lifetime gifting programs designed to avoid or minimize transfer taxes
- Life insurance planning, including irrevocable life insurance trust
In addition to being highly skilled in the drafting of instruments such as wills, trusts, durable general powers of attorney and other estate planning documents, McAfee & Taft attorneys have significant experience and expertise in the following areas:
- All phases of probate practice and other post-death administration matters
- Preparation of federal and state estate tax returns
- Assistance in handling postmortem matters such as income tax issues, disclaimers of estate and non-estate assets, installment payments of estate taxes, special use valuations of farms and closely-held businesses, trust consolidation and other related matters.