The Goulston & Storrs Fiduciary Administration group possesses particular expertise in the administration of large and complex estates and trusts, particularly those holding real estate and business interests. With many decades of experience dealing with federal and state authorities regarding tax issues, the firm has implemented innovative strategies for protecting the interests of its clients’ trusts and estates, including the use of tax elections, disclaimers and other sophisticated planning techniques.
Our attorneys frequently serve as executors and administrators of clients’ estates and as trustees of trusts holding substantial assets. As fiduciaries, we have considerable experience administering the assets held in these estates and trusts, including the management of securities and other investments, utilizing the advice of premier outside investment advisors. Together with the attorneys in our litigation area, our trust and estate attorneys represent our clients in complex will contests and matters relating to the interpretation of specific provisions of wills, trusts and other estate planning documents. |
Representative Projects and Transactions
- Administration of large estates consisting of complex real estate and business assets.
- Estate administration for minority owner of family-held manufacturing company, including valuation of business and real estate entities, planning for payment of taxes in installments and negotiations among family members regarding possible sale of the minority share.
- Favorable settlement of Tax Court litigation contesting IRS disallowance of substantial valuation discount for interest in family limited partnership for estate tax purposes.
- Use of qualified disclaimers to equalize estate taxes on successive deaths of wealthy couple.
- Division of trusts to create subtrusts wholly exempt from generation-skipping transfer (“GST”) tax.
- Use of “partial QTIP elections” to minimize overall estate tax liabilities in the estates of husband and wife.
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