Strategies For Protecting Family Wealth

Trust And Tax Planning In Upstate New York

Many of our clients have significant holdings or complex considerations that require advanced legal strategies. McCabe & Mack LLP can help facilitate generational transfers and hedge those family assets against estate taxes and other threats.

Our estate planning group provides sophisticated counsel to high net worth clients in Dutchess County and throughout the Hudson Valley. We will spend the time to understand your objectives and the obstacles so that we can develop a comprehensive asset protection and succession plan that complies with state and federal regulations.

Asset Protection And Estate Tax Minimization

While the federal threshold may not come into play, many New York families are at or near the current estate and gift tax exemption of $3.1 million. Our lawyers can help you implement trusts and related strategies for reducing estate taxes and protecting heirs from creditors, lawsuits or their own profligate spending:

  • Generation-skipping trusts
  • Irrevocable life insurance trusts (ILIT)
  • Grantor retained annuity trusts (GRAT)
  • Annual gifting and asset transfers
  • Real estate entities

Customized Trusts For Your Estate Planning Goals

We help clients set up revocable and irrevocable trusts to achieve different purposes, including:

  • An income stream while you are living
  • Succession of a family business
  • Charitable trusts to fund a favorite cause
  • Special needs trusts to preserve eligibility for disability benefits
  • Trust funds with parameters for inheritance

We also have extensive experience in administration of complex estates, including ongoing trust management. Our lawyers assist named executors and appointed administrators in their duties and represent beneficiaries in defending or challenging the will.

Comprehensive Considerations

We coordinate your trusts and asset protection strategies with your will and powers of attorney so that your assets pass as seamlessly as possible to your intended heirs. We can also address nursing home care and other anticipated issues in your overall estate plans.

Our goal is to give you peace of mind that your legacy is intact and your family assets will stay in the family. Make arrangements today with our Poughkeepsie trust planning attorneys.