There are two basic types of trusts: revocable and irrevocable. A revocable trust can be altered during the life of the grantor (the person who creates the trust). The assets held in a revocable trust at the decedent’s death are subject to the estate tax. Conversely, an irrevocable trust generally cannot be altered after you create it. The assets held in an irrevocable trust at the decedent’s death are not generally subject to the estate tax.
For larger estates, our firm has experience in using valuation discounts and other tax-advantaged gifting strategies allowed by the Internal Revenue Service. We use specialized trusts and limited liability entities to accomplish this goal.
While our firm can help you develop an estate plan, we also assist executors and administrators in the probate process after a person dies. Probate is the judicial proceeding required to transfer title to the deceased’s heirs or beneficiaries under a will. If you are named as the executor by the terms of the will or would like to become the administrator of the estate of a family member who did not have a will, our firm can help you to become appointed by the probate court. We can also assist you in all subsequent probate court matters and procedures until the closing of the estate.
Our healthcare practice helps our clients manage the complex regulatory, commercial, and professional responsibilities of healthcare providers. The healthcare industry requires providers to navigate the labyrinth of state and federal regulation, insurance systems, and third-party payments.
Our firm has experience , negotiating physician employment agreements, advising about physician credentialing, physician licensing, and all aspects of malpractice risk management. We have expertise in all aspects of the regulatory requirements of health care providers including HIPAA, EMTALA, Stark I, and Stark II. Elder law and estate planning issues.
Our healthcare practice also includes the tax and business law aspects of the health care industry including medical and dental practice acquisitions and sales, medical and dental practice and clinic start-ups, and all related transactions.
When necessary, our firm is prepared to vigorously represent our healthcare clients by litigating, arbitrating, mediating, or negotiating any related disputes.