Taxes can significantly affect your retirement plan and leave you with much less money than you thought you would have. Fortunately, you can take steps to reduce taxes, including considering whether to convert your traditional 401(k) or IRA into a Roth 401(k) or Roth...
Estate of Miriam Brach
The decedent had a very complex estate plan in order to avoid estate taxes upon her death. In her will, she named our client as the executor of her estate. Our client was also named as trustee for numerous trusts she created primarily for the benefit of her three children. Upon the decedent’s passing, two of the decedent’s children initiated litigation against our client in his numerous roles, including executor and trustee. The litigation claimed, among other things, that our client was withholding information, refusing to provide accountings for the trusts and the estate, and breach of fiduciary duty.
The decedent’s estate plan was extremely complex. It included trusts, LLC’s, and partnerships. In order to resolve all outstanding issues, which included litigation, judicial accountings, the winding up of the business entities, and the payment of estate taxes, we had to be very creative.
After winning a number of dispositive motions for the litigation matters, we eventually entered into settlement negotiations. Due to the complexity of the matter, and the many moving pieces, as well as our client’s desires, we needed to come up with a global settlement document that encompassed all of this. We were able to come up with creative solutions, and worked together with outside counsel and tax professionals, to achieve this.
Contact us to schedule your free consultation.
* indicates required fields
Smith Legacy Law:
Your Lawyers For Life
Many people make gifts of cash, appreciated securities, and/or personal property to their favorite charities. They want to help others but are also happy to receive a charitable deduction from their income taxes for the fair market value of the donated items. For...
Small and mid-size businesses tend to have more informal business dealings than large companies. They may have verbal contracts or written ones that do not lay out every term. This is because they often don’t have in-house lawyers and they think they can rely on their...
Typically, people buy life insurance to provide funds for their families if something happens to them. However, there are other ways life insurance can benefit your estate plan. If you are considering buying a policy or changing your existing one, it is helpful to...
The cost to start a lawsuit or defend against one is an important consideration in deciding how to respond to a dispute. Litigation can be expensive and time-consuming and sometimes you may pay more in court costs, legal fees, and other expenses than you may...
General Counsel Services
Wills, Trusts and Estate Planning
Probate, Trust and Estate Administration
Philanthropic Giving and Charitable Planning
Supplemental / Special Needs Planning
Asset Protection Planning
Medicaid Asset Protection
Matrimonial Asset Protection
Guardianships and Conservatorships
Wills, Trusts and Estate Litigation
Business and Commercial Litigation
Shareholder / Owner Disputes
Tax Controversies, Appeals and Litigation
Mediation and Arbitration