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Practices at Kelly Hart Hallman

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Estate Planning & Probate

Estate Planning

Our attorneys within the Estate Planning, Probate and Nonprofit Organizations Practice Group have extensive experience in the area of estate planning. We focus on the various estate planning techniques that preserve a client’s wealth and that transfer a client’s wealth during lifetime and at death by minimizing the effect of the various transfer taxes (estate, gift and generation-skipping transfer taxes) applicable to individuals, families and businesses. We utilize basic estate planning documents such as wills and revocable trusts; however, we also utilize a number of sophisticated estate planning techniques involving life insurance trusts, gifts (both charitable and noncharitable), the formation of limited partnerships and other business entities, the formation of private foundations and donor advised funds, grantor retained annuity trusts, installment sales of assets, qualified personal residence trusts, charitable split-interest trusts and other techniques. When appropriate, we will seek private letter rulings from the Internal Revenue Service regarding the tax consequences of specific estate planning transactions. The objective is to insure that each client’s wealth is held, preserved and transferred to the desired beneficiaries in the most efficient way at the least possible transfer tax cost. Estate planning also involves planning for the management of a client’s wealth and personal care in the event of disability. We attempt to achieve each client’s objective through the use of revocable trusts, financial and medical powers of attorney, medical directives (also known as living wills) and guardian designations. Finally, we represent clients in the negotiation of prenuptial agreements, marital property agreements and divorce property settlement agreements.

Probate and Estate Administration

We provide a broad range of probate services to facilitate the transfer of a decedent’s property in accordance with state and federal laws. Those services include the probate of wills, the transfer of assets without probate for those decedents dying without wills, estate administration, the preparation of federal estate tax returns, the representation of fiduciaries before the Internal Revenue Service regarding various tax matters, the representation of fiduciaries and beneficiaries in contested estate matters, the preparation of disclaimers and working with fiduciaries on valuation issues.

Trusts and Trust Administration

We assist clients in the establishment and administration of trusts. Those trusts include various revocable and irrevocable trusts, including life insurance trusts, grantor trusts, annual exclusion trusts commonly known as Crummey trusts and minors trusts, generation-skipping transfer trusts, grantor retained annuity trusts and charitable split-interest trusts. We also advise individual and corporate trustees in the administration of their trusts and the discharge of their fiduciary powers, responsibilities and duties under applicable law, and we advise beneficiaries regarding their rights relating to their trusts. Finally, we assist trustees in the termination of trusts and the distribution of trust assets.

Probate and Trust Litigation

We represent clients in contested probate and trust matters, including estate and trust litigation and other forms of adversarial proceedings. The firm has represented fiduciaries and beneficiaries in matters involving will contests, accountings, fiduciary removal proceedings, breach of fiduciary duty cases, trust modifications, trust terminations, estate and trust administration matters, family settlement agreements and other probate matters. We also represent fiduciaries before the Internal Revenue Service and the United States Tax Court.

Tax and Business Planning

We provide a broad range of services in state and federal gift tax, estate tax and generation-skipping transfer tax planning for individuals, family businesses and families of substantial wealth. Firm attorneys work closely with individuals and businesses to preserve wealth and to transfer wealth to the next generation in a tax efficient manner. Particular attention is paid to business succession planning and meeting liquidity needs when ownership transfers occur. Planning techniques focusing on valuation issues can result in significant tax savings for the business owner and the business owner’s family, and planning techniques focusing on management issues can result in a harmonious transfer of control at the business owner’s death to the next generation, even if some members of the next generation will not be involved in the active management of the business.

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