Estate Planning & Administration
The Estate Planning and Administration attorneys of Masuda Funai are skillful in attending to the special and individual needs of international clients with homes, commercial assets and diverse financial interests in multiple countries around the globe. We understand the complex tax laws that affect international clients and are able to provide practical, effective solutions.
We are frequently retained to liquidate U.S. assets of non-resident decedents, settle the applicable taxes and forward the proceeds to the rightful heirs, legatees and beneficiaries. We also assist in locating heirs and beneficiaries, in the U.S. and wherever they may be in the world.
For our domestic clients, the Estate Planning and Administration practice provides counsel in all aspects of estate and wealth transfer planning including the administration of trusts, the probate of estates, estate and gift tax planning and estate tax return preparation.
We work with both international and U.S. clients to create, fund, and administer various types of trusts designed to reduce estate and gift tax liability and ensure the efficient distribution of assets according to each grantor's personal estate plan. Our experience in probate practice and procedure enable us to provide step-by-step guidance to estate administrators and executors – including the opening of a probate estate, the marshalling of assets, accounting for the estate, the filing of the appropriate tax returns, distributing the estate's assets and the closing of the estate. Extensive knowledge of U.S. tax laws, including federal income, gift and estate tax laws, enable our attorneys to help clients maximize the transfer of wealth and minimize applicable taxes.
If you have any questions or would like further information about Masuda Funai's Estate Planning & Administration practice, please contact the chair of the Group, Reynard L. Tanig, at 312.245.7500 or via e-mail at rtanig@masudafunai.com.
RANGE OF SERVICES AND EXPERIENCE
The following is a brief overview of some of the many aspects of trust and estate planning that our attorneys perform.
- Simple and Complex Wills
- Revocable Living Trusts
- Durable Powers of Attorney for Property and Health Care
- Living Wills
- Generation-Skipping and Dynasty Trusts
- Trusts for Minor Children and Grandchildren
- Grantor Retained Annuity Trusts (GRAT)
- Charitable Gift Planning, including Charitable Remainder Trusts, Charitable Lead Trusts, and Charitable Foundations
- Qualified Domestic Trust (Q-DOT)
- Qualified Personal Residence Trust (Q-PRT)
- Special Needs Trust
- Irrevocable Life Insurance Trust
- IRA and Qualified Plan Beneficiary Planning
- Buy-Sell and Transfer Restriction Agreements for Business Entities
- Intentionally Defective Irrevocable Trust
- Family Limited Partnerships
- Qualified Disclaimers
- Federal and State Estate Tax Returns
- IRS Examinations
- Premarital and Postmarital Agreements