Succession Planning and Estate Administration
The succession planning and estate administration attorneys at Farleigh Wada Witt focus on planning for the efficient management of assets for the client and family during lifetime and following death.
Our estate planning attorneys provide advice and counseling to individuals, families, and fiduciaries on a wide range of issues involving estate and gift planning, as well as estate and trust administration. We address such critical issues as:
Planning for potential incapacitation
Estate, gift, and inheritance taxes
Creative use of life insurance and retirement assets to minimize the potential estate and income tax impact on the client's estate
We take a proactive approach to identifying planning issues for clients to consider, and we work closely with clients and their financial advisors to implement a plan that will provide for efficient administration of assets while protecting the family. In appropriate cases, we make extensive use of both testamentary and lifetime trusts to ensure that the client's planning goals are realized.
We regularly assist clients with the challenging task of administering estates in the event of lifetime incapacitation or death. We provide advice on the management of assets, initiation and efficient administration of conservatorship and probate proceedings, and distribution of assets as authorized by trust documents or the court. We prepare required federal and state death tax returns and guide clients through the many decisions that must be made in the administration of taxable estates.
When disputes arise concerning estate administration during lifetime incapacitation or after death, we are prepared to assist clients in resolving these disputes. Whether the issue involves will contests, distribution issues, or trust and estate administration, we will effectively represent the client in the dispute to reach an efficient resolution.