Estate & Gift Taxation
Wolcott Rivers Gates serves clients who desire a tax-efficient transfer of wealth. We routinely assist high-net worth individuals with plans to preserve assets, reduce taxes and provide for their family members.
The planning often includes taking advantage of available gift tax exclusions and creating dynasty and other trusts to reduce estate and generation-skipping taxes. When necessary, we collaborate with our family law attorneys to provide advice about premarital agreements and marital dissolution planning. We also advise executors and trustees in the administration of trusts and estates and all aspects of their fiduciary duties.
We regularly assist business owners in transferring their businesses to children or planning for a liquidity event upon the sale of a business. Transfer strategies include:
Discounted gifts or sales of minority interests
Creating nonvoting classes of shares
Restrictive shareholder agreements
Our experienced estate and gift taxation attorneys will work hard to help you achieve estate planning goals in a tax-efficient manner.
We provide estate and gift tax advice for the following areas:
General estate tax advice
General gift tax advice
Gifts and sales to irrevocable trusts
Transfer of business interest prior to liquidity events
Maximizing annual and lifetime gift exclusions
How gifts can reduce your estate tax burden
Alternate valuation elections
Settling estates with assets
Additionally, we help our clients take full advantage of the exemptions and exclusions allowed by law.