Our clients face important planning issues to preserve the wealth they have created for their families in the face of confiscatory estate and related taxes. BALYEAT + LANE is well versed in planning techniques that assist clients in coping with state/federal income and estate tax issues, including lifetime giving plans involving family limited partnerships, living trusts, grantor retained annuity trusts and charitable trusts. We work with clients to protect their businesses and assets through the use of limited liability entities such as limited liability companies, limited partnerships and corporations. We are skilled in helping clients form and implement estate plans that take into account tax issues, human factors, and financial management issues. Our goal is to create a comprehensive estate and retirement plan for each client that addresses tax, family, retirement, disability and financial objectives.
• Created coordinated plans for multiple generations of families involved in closely-held businesses with family wealth ranging from under $1,000,000 to over $80,000,000 that involve lifetime transition of wealth and business succession planning maximizing and leveraging gift, estate and generation-skipping tax exemptions and enhancing asset protection, utilizing strategies such as family limited partnerships, limited liability companies, sales of discounted interests to intentionally defective income trusts, use of grantor retained annuity trusts, qualified personal residence trusts, charitable lead trusts, charitable remainder trusts, and irrevocable life insurance trusts
• Representation of widow in litigation involving funding of marital deduction
• Post-mortem estate planning for estate, including a series of disclaimers for beneficiaries of estate, to eliminate substantial estate tax liability