Estate Planning, Administration and Probate

Estate Planning, Administration and Probate

Many of our clients also retain us to prepare their estate plans and administer or manage their estates and trusts. We have designed sophisticated estate plans for wealthy individuals and families and owners of closely held corporations that meet their objectives and reduce potential tax burdens.

We thoroughly discuss the client’s estate planning goals in order to craft a thoughtful estate plan. We then utilize sophisticated planning vehicles tailored to each client’s individualized needs to accomplish their estate plan and ethically avoid unnecessary tax liabilities. We routinely establish trusts, family limited partnerships, limited liability companies and private charitable foundations. We carefully devise estate plans that are without ambiguity regarding a decedent’s intentions are realized and to eliminate litigation among family members.

A thorough estate plan contemplates the possibility that a person may become incompetent to make decisions or manage his or her own affairs. We prepare the appropriate health care proxies and living wills so that a client’s personal medical and financial wishes are carried out if they are unable to act on their own behalf.

An essential part of a business plan is to plan for the demise of a key player in a closely held business entity. We counsel business entity owners in succession planning, alternatives for seamless transitioning and transferring ownership and control to the next generation, and solving liquidity concerns associated with estate taxes. We create governing agreements and documents so that our clients’ objectives will be met.

Tax laws affecting closely held businesses change frequently. We stay up-to-date on changes in the federal and state law and plan customized techniques for the smooth transition of management and ownership. Our lawyers have re-capitalized corporations and established partnerships that freeze the values of the older generations’ business interests for estate tax purposes. These efforts insulated our clients from substantial asset value from federal and state estate taxes.

This firm has represented multimillion-dollar estates and trusts involving portfolios with diverse and complex assets such as patents, copyrights, art collections, closely held business interests, license rights, and real estate held for development. We provide assistance in administration and management of these estates and trusts, and counsel beneficiaries in tax-saving techniques. Our attorneys can also serve as executors or trustees when appropriate.

Our firm also assists in preparation of estate and fiduciary income tax returns and represents fiduciaries before the Internal Revenue Service.

© 2024 Peter Birzon & Associates
400 Jericho Turnpike, Suite 100, Jericho, NY 11753
| Phone: (516) 942-9100

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