Estate Planning

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Tonkon Torp maintains a sophisticated estate planning practice involving all aspects of wills, trusts, probate and gift/estate tax planning, with specialization in planning for owners of closely held businesses. Our lawyers offer clients personalized attention in assisting with estate and business succession planning and administration of planning documents such as wills and trusts. A large part of the practice involves minimizing taxes on the transfer of wealth using such techniques as family limited partnerships, family limited liability companies, and installment sales. We represent personal representatives during the probate of wills, and trustees in all aspects of trust administration during life and on death. Together with our litigation team, we assist in trusts and estate disputes, including will contests and trust disputes.

Our attorneys structure a variety of wills and specialty trusts for our clients, including:
 

  • Revocable "living trusts"
  • Irrevocable life insurance trusts
  • Qualified personal residence trusts
  • Crummey trusts
  • Title holding trusts
  • Grantor retained annuity trusts
  • Trusts and wills for U.S. citizens with foreign assets and non-citizens living in the U.S.

Many of our high-net worth clients give generously to the community and we help structure these gifts to maximize the tax benefits. Our experience includes the organization and operation of private foundations as well as the establishment and implementation of charitable unitrusts and annuity trusts. Our expertise extends to public and private charitable and tax-exempt organizations, often the beneficiary of our clients' gifts.