Estate Planning; Estate and Trust Administration

For over half a century Bancroft & McAlister has been a leader in the field of estate planning and estate and trust administration. The attorneys who practice in this group provide a wide range of experience in the following areas of estate planning:

  • Planning for and preparation of revocable living trusts, wills and related documents such as powers of attorney and health care directives.
  • Planning for and preparation of irrevocable trusts such as insurance trusts, trusts for children and grandchildren, charitable remainder trusts, trusts creating family foundations.
  • Advising on the effects of the changing federal estate and gift tax exemption.
  • Providing income tax, property tax, and transfer tax advice relating to all of the above.

Also, following a decedent’s death, the legal assistants and lawyers of the firm handle the post-death administration of a will (probate) or trust. (Since most of the firm’s estate planning clients will have a revocable living trust, probates have become less common, and the focus usually is on the administration of the trust.) Post-death administration tasks include:

  • Working with the family to ensure that there is sufficient liquidity following the death of a family member.
  • Advising on Federal estate tax returns.
  • Advising on trust and estate income tax returns.
  • Supervising the preparation of fiduciary accountings.
  • Providing post-death tax planning.
  • Petitioning the probate courts where issues involving the trust, trustees, family etc. require court intervention or supervision.
  • Funding sub-trusts in such a way as to minimize income and transfer taxes.

In addition, the lawyers are frequently counselors to families on matters that go beyond tax and trust administration issues.

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