Smith Legacy Law helps clients ensure that their assets are protected and managed as they intended, by:
- Updating wills, revocable and irrevocable trusts (including dynasty trusts), and other important documents.
- Maintaining wills and important documents so they remain current as family and business circumstances or wishes evolve.
- Bulletproofing client estate plans to minimize the risk of litigation.
- Negotiating and drafting prenuptial and postnuptial agreements.
- Obtaining accurate appraisals for real estate, art and other hard-to-value assets.
- Analyzing and addressing multistate estate tax and income tax issues.
- Developing philanthropic giving strategies.
Estate and Trust Administration
Smith Legacy Law assists trusts, grantors / settlors, and beneficiaries through the ongoing trust administration process. This includes:
- Guiding fiduciaries through the process of administering complex estates and trusts from end to end.
- Petitioning for probate of wills or letters of administration.
- Developing and implementing “post-mortem” tax strategies, including qualified disclaimers, waiving fiduciary commissions and obtaining valuation discounts on estate assets.
- Drafting, reviewing, and filing required estate/gift tax returns and fiduciary income tax returns.
- Preparing fiduciary accountings and releases.
- Drafting fiduciary appointment and resignation documents and managing a smooth succession of fiduciaries.
- “Decanting” dysfunctional trusts into new trusts with desired terms.
- Terminating/unwinding trusts that are no longer advisable or economical.
- Structuring loans and other transactions between trusts and related parties.
- Representing fiduciaries in all contested matters, including estate and trust litigation, disputed fiduciary accountings, and federal and state tax audits and controversies.
Estate and Trust Litigation
For clients facing actual or potential litigation, Smith Legacy Law helps them arrive at the best possible outcome by:
- Providing an assessment of the merits, potential strategies, and possible outcomes of the litigation.
- Building a comprehensive litigation strategy coupled with a “real world” approach designed to achieve client objectives while balancing risks and rewards.
- Presenting clients with all available options, including timelines and outcomes.
- Developing, negotiating, and evaluating settlement proposals and implementing final settlements.
- Providing calm, objective counsel and removing the emotional sting and agita from the litigation process.