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.