Estate & Trust Services

Navigating the estate and gift landscape requires the help of trusted advisors. LKB can help you make sense of this increasingly complex area. We handle all aspects of (i) estate and gift planning, (ii) trust and (iii) estate administration and trust, estate and gift tax compliance. We advise families in the proper planning of their estates in order to protect assets, minimize tax exposure and make provisions for beneficiaries tailored to each families’ unique needs and intentions, including the transfer of business and non-business assets to beneficiaries and the implementation of philanthropic intents. We can work with a client’s estate attorney to help monitor and update an estate plan as needed or we can help a client decide if an estate plan suits their needs. We can also recommend estate planning attorneys to assist in the process. In addition we work with a client’s other professional advisors, ensuring the proper transfer of knowledge between all parties.

Estate and Gift Planning Services Include:

  • Development of estate plans to reduce estate and gift taxes while achieving the family’s goals
  • Development of family gift giving programs
  • Creation and implementation of business succession plans
  • Development of testamentary plans to minimize taxes
  • Creation of strategies for using inter-vivo trusts
  • Design and implementation of charitable-giving strategies to minimize estate, gift and income taxes
  • Planning for Individual Retirement Accounts (IRAs) and qualified plan distributions to maximize family wealth and minimize taxes
  • Preparation of business valuations to be utilized in effectuating lifetime gifts to minimize estate and gift taxes
  • Assisting clients in identifying long-term care and life insurance needs and implementing solutions

Trusts and Estates Administration Services Include:

  • Preparation of judicial and non-judicial fiduciary accountings
  • Post-mortem planning, including use of disclaimers, redemption of closely held business stock, and allocation of generation-skipping transfer tax exemption
  • Working with attorneys, executors, trustees and beneficiaries to minimize gift, estate and income taxes
  • Assist executors in navigating the estate administration process including marshalling assets, obtaining appraisals and distributing estate assets
  • Assist beneficiaries in the resolution of disputes regarding inherited or inheritable assets
  • Valuation of closely-held business interests to minimize gift and estate taxes

Trusts, Estates and Gift Tax Compliance Services Include:

  • Preparation of federal and state gift tax returns
  • Preparation of federal estate tax returns (Form 706) and applicable state inheritance/estate tax returns
  • Preparation of federal and state fiduciary income tax returns including income tax planning to minimize taxes
  • Preparation of federal and state charitable trust information returns