Practive Areas

Estate Planning

Estate Planning and Wealth Management - Putting families and their businesses first in Washington, DC, Florida, Maryland, New York and Virginia

There are many estate planning lawyers who specialize in trusts and estates but only a few in maintaining wealth over time while planning the passing of wealth from one generation to the next. This type of law practice requires an intimate familiarity with the affairs of the family well beyond the size and history of its fortune. I will want to know whether in a particular case a marriage is the public face of a timeless bond of love or a business relationship, whether particular heirs may be capable of administering fortunes or suitable only to receive a regular income. Some may require disability planning with a special needs trust. Others need an orderly plan to transition the family business to the next generation.

I will want to know about your wayward sons and ambitious grandchildren, your mistresses or "walkers" and the executives of your family-owned business. In short, you may find yourself sharing secrets with me that you would not share with your spouse, in which case, I will have to represent just one, but not both of you. I will help you decide whether your spouse or child can be trusted, if your health fails, to instruct the doctor to "pull the plug" or provide the palliative care you might want.

In short, I can help you maintain your wealth now - and plan for its orderly transition to your spouse and children. I will assist in navigating through the maze of the applicable state and federal tax codes so that as much as possible of your wealth stays within the family or goes to a favorite charity rather than the government.

For example, creation of a trust to hold appreciated assets that would pay the trust creator a stream of income for life and the remainder to charity upon death is a possible strategy for those who have accumulated substantial stock investments subject to capital gains during their lifetime. Transferring ownership of your home to a trust with the right to live in it for life while it is owned by family members may provide tax advantages under certain circumstances.

My practice includes planning for U.S. and non-U.S. citizens and residents. I have counseled business owners about achieving intra-generational wealth preservation and business succession planning. As an experienced trial attorney, I am prepared to represent clients in litigated probate and trust matters, and in matters involving complex estate, gift and generation-skipping tax issues as well as planning with life insurance and retirement assets. I counsel and advise fiduciaries in connection with the administration of estates and personal and charitable trusts. I also represent clients in connection with preparation and advice concerning pre- and postnuptial agreements which may be coupled with the development of an estate plan.

Estate planning should be done not just for tax avoidance or to minimize estate and inheritance taxes. It is essential for parents of children under 18 to designate a guardian who may serve in their stead in the event that the natural parents die prematurely. It is prudent to plan for your own disability and that of your spouse. It is a good idea to prepare a lifetime plan for the support of your loved ones and education of your children. If one spouse is a non-US citizen, estate planning is necessary in order to avoid the desire of the Internal Revenue Service to prevent the departure of the family assets from the United States by taxing it at the death of the US citizen spouse. Be prepared: if you call me and say you just need a simple will, you may find out that there is no such thing. Contact Pamela B. Stuart, estate planning attorney, at 202-835-2200 (DC, MD, VA), 772-492-1223 (FL), or 212-332-8915 (NY) for a consultation.