Our experienced team of estate planning attorneys takes an integrated approach to meet the needs of clients, consulting with their financial advisors and accountants to gain a full picture of a client’s unique goals and objectives.
Estate planning can be a complex process. It goes beyond simply preparing a will or arranging a trust. Proper estate planning ensures an efficient transfer of wealth from one generation to the next, through either a single transfer or over the course of a lifetime.
The plans that are prepared anticipate the issues that invariably arise during the administration process and offer solutions to avoid as many pitfalls as possible.
Gammage & Burnham’s attorneys guide clients through every stage of the estate planning process, including:
Basic Estate Planning
Although estate planning is anything but basic, there are foundational elements involved in the process. Gammage & Burnham guides clients on preparing last wills and testaments, devises of tangible personal property, revocable living trusts, healthcare powers of attorney and living wills, durable financial powers of attorney, and irrevocable life insurance trusts.
Complex Estate Planning
The risk of federal estate tax exposure may inspire clients to seek estate planning techniques that avoid or minimize that exposure. Our advanced planning techniques include charitable trusts, sales to defective grantor trusts, family limited partnerships, asset protection strategies, planning for annual exclusion and efficient use of the lifetime exemption, irrevocable financial life insurance trusts, and preparation and audit of federal gift tax returns.
Federal and State Income Tax Planning
A sophisticated estate planning practice renders general federal and state income, estate and gift tax advice. Estate and gift tax counsel at Gammage & Burnham analyzes the optimal timing of transfers, while counsel on income tax treatment and consequences for entities may extend to corporations, limited partnerships or limited liability companies. The firm also specializes in offering state and federal tax planning for individuals, trusts, estates and business entities.
Probate & Estate Administration
Invariably, a host of issues arise following the death of a loved one. Our attorneys are experienced with the court administered probate process, legal strategies to avoid probate, and any issues that may arise, whether the estate is taxable or not. We can assist with concerns about tax elections, how beneficiaries should disclaim an inheritance, how a spouse should manage unused lifetime exemption amounts, whether to exercise alternative valuation, and the preparation and audit of a federal estate tax return.
