Estate Planning, Trusts and Estates
Woods & Aitken’s Estate and Trust Planning and Administration Practice Group has developed a reputation for providing high quality services in all aspects of estate and trust planning and administration, including business succession planning. In developing each client’s individual plan we focus on providing the personal attention needed to develop a detailed plan for the orderly and efficient transfer of the client’s assets, while minimizing potential taxes and administration expenses. Our clients range from individuals and families of moderate wealth to substantial wealth and include a range of business owners, from small closely held companies to large companies operating in a variety of industries.
Estate Planning Services
Every client is unique and has different objectives and concerns. We design and help you implement your plan after careful consideration of your objectives. We work closely with your accountants, insurance professionals and financial advisors in order to develop a coordinated plan that achieves the maximum efficiency in transferring the greatest amount of your wealth on to your family and designated charities. In developing sophisticated estate plans, we utilize a variety of planning tools, including but not limited to gifting strategies, charitable remainder trusts, grantor retained annuity trusts, irrevocable life insurance trusts, dynastic trusts and family foundations, in order to provide the greatest benefit to you and your family for generations to come.
Estate & Trust Administration
Our attorneys represent Personal Representatives and Trustees throughout the administration process. Our attorneys and legal assistants are available to work with each family to reduce the client’s anxiety in a difficult time. We work closely with both individual and corporate trustees in all aspects of the administration process, including all areas of probate and trust administration, the completion of federal estate tax returns and state inheritance tax returns, funding trusts and the distribution of assets to beneficiaries and heirs. In addition, our Practice Group also includes representation of fiduciaries and beneficiaries in estate and trust litigation matters and the efficient resolution of such disputes.
Business Succession & Tax Planning
Our attorneys have experience in creating and developing business succession plans for business owners, including extensive experience in succession planning for agricultural and family businesses. We work hard to integrate the business succession plan into the family’s estate planning objectives. We create family limited partnerships and limited liability companies, incorporate insurance trust planning, and develop gifting programs, non-charitable and charitable. In the integration of business and family succession planning, we also review and coordinate the pension and profit sharing plan benefits and individual retirement accounts with the overall estate plan.