- Estate planning
- Insurance consulting
- Trust design
- Charitable planning
- Business valuation & appraisal
- Family office & business management
- Executive financial planning
- Cross-border planning
Estate Planning
As of 2011, U.S. taxes reached 35% for estates of more than $5 million. Rates may be even higher when additional factors, such as state death taxes or generation-skipping bequests, are considered. These taxes can have a tremendous impact on a family’s long-term financial position. Tax-saving strategies must be balanced, however, with the needs of the family.
We favor estate plans that promote family harmony, provide for the support of heirs without discouraging the heirs’ own enterprise, and anticipate future contingencies such as a spouse’s remarriage, a child’s divorce or a family member’s bankruptcy. We have years of experience helping families establish charitable trusts, family investment entities, and other vehicles that transfer assets while minimizing income, gift, estate and generation-skipping transfer taxes. In 2009, the Estate Planning Council of New York City, Inc., presented our president, Larry M. Elkin, with their first ever Lifetime Achievement Award, citing him as a “consummate estate planning professional.”
