Advanced Markets

Our firm specializes in developing the legal and tax structures for the use of life insurance and annuities in the business context.   Our firm does not sell financial products; instead, we review, as your lawyers, the transactions proposed by the agent to ensure the claimed legal and tax benefits are achievable and that there are no hidden consequences to the strategy.  Financial planners are often the first and most educated professionals who can develop sophisticated strategies for the business owner. However, financial planners are not lawyers, and do not have the technical knowledge of the tax laws (although many believe that they do), or the fiduciary duty, to ensure the strategy is right for you.  We can also unwind those transactions which have not achieved their intended results, or which have been ruled abusive or nonqualified by the IRS.

An experienced lawyer who is familiar with the various sophisticated uses of life insurance and annuities is the best person (along with your CPA) to determine whether the transaction proposed by the agent will achieve the claimed results.  If it will, your attorney can make sure all tax and legal requirements are followed, and draft any documents which may be needed to complete the transaction.

Our expertise spans the usual and the more complex estate planning techniques including:

  • Revocable Living Trusts (Inter Vivos Trusts)
  • Family Wealth Transfers
  • Family Limited Partnerships
  • Dynasty trusts and Generation-Skipping Transfers
  • Charitable trusts, private and private operating foundations
  • Foreign (Offshore) and Domestic Asset Protection Trusts
  • Creditor Protected Trusts
  • Grantor Controlled Trusts
  • Beneficiary Controlled Trusts
  • Terminating/Amending Irrevocable and Testamentary Trusts
  • Retirement plan distributions and Advanced IRA Strategies
  • Irrevocable Life Insurance Trusts
  • Qualified Personal Residence Trusts
  • Grantor Retained Annuity Trusts
  • Sales to Grantor Trusts
  • Estate Planning for Complex Deferred Compensation Arrangements
  • Probate Litigation and Contested Estate, Trust and Probate Matters
  • Business Continuity Planning
  • Tax Controversies
  • Individual Tax Planning

Estate Administration

We currently represent numerous estates in administration. We handle all of the required legal matters, prepare all necessary estate and trust tax returns and advise our clients on the related income tax matters.  We defend and prosecute Will Contests and Will Construction Proceedings in all New York City counties, and handle these matters for trusts and trustees.