Baker & Daniels LLP

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Trusts & Estates

The growing complexities of today's tax laws are challenging the preservation of tomorrow's family and business financial interests. Baker & Daniels' trusts & estates lawyers assist clients in planning and protecting their future. Our professionals are diverse and dynamic, representing a variety of clients – from seasoned individuals whose net worth is in the hundreds of millions to young families just starting to build their nest egg.

We help determine what is important to you. Plans and strategies are designed to accomplish the personal objectives of our clients, whatever their financial status, and assist in the final protection and security of family members. Each plan is uniquely designed to be responsive to each client's needs.

Baker & Daniels' professionals also work closely with investment advisors, accountants, pension consultants, life underwriters and banking representatives to develop the most comprehensive estate plan possible. We want to maximize the transfer of family wealth while minimizing any tax burden, both state and federal.

We counsel clients on a range of concerns, including:
* Retention of control
* Tax minimization
* Inheritance maximization
* Inheritance equalization
* Business continuity
* Relative tolerance for risk or complexity

Baker & Daniels' trusts and estates lawyers also review family business issues, such as buy-sell agreements and other business continuation alternatives for preservation of family ownership and control of the family business.

We analyze the effect of all types of taxes as applied to your assets, including:
* The federal gift and estate tax
* The generation skipping tax
* Local estate and inheritance taxes determined by your state of residence

Our professionals are experienced in the planned disposition of a business to continuing shareholders or others, including the impact of all taxes due on transfers.

Baker & Daniels' services continue after the death of a client, providing assistance to the client's executor in the settlement of the estate according to the plan. We also offer assistance to trustees in the funding and administration of trusts. We provide assistance from initiating the probate of the will and opening the estate through the filing of necessary tax returns and making final distributions to the beneficiaries. Our services include:
* Providing advice on accounting for property interests as assets of the estate
* Assisting in the valuation of those assets
* Evaluating cash needs of the estate for payment of claims, expenses and taxes
* Preparing any necessary estate, inheritance and income tax returns
* Counseling for orderly payment of claims, disposition of assets and the final distribution of assets and funding of trusts.

Services

Baker & Daniels' trusts and estates lawyers represent clients in an array of services, including:

Tax Analysis

Analysis of the effect of all types of taxes on our clients' assets, including the federal gift and estate tax, generation skipping tax, and local estate and inheritance taxes determined by the client's state of residence.

Counsel on Gifts

Counsel on lifetime gifts, including the use of qualified personal residence trusts, grantor retained annuity trusts and trusts that take advantage of the marital deduction.

Knowledge of Charitable Techniques

Counsel and assist clients in implementing charitable deduction trusts to minimize or delay estate and related taxes, including the use of charitable lead and remainder trusts.

Family Business Issues

Review of buy-sell agreements and other business continuation alternatives for preservation of family ownership and control of the family business or the planned disposition of a business to continuing shareholders, including the impact of all taxes due on transfers.

Preparing for Difficult Times

Advise clients to plan for disability during their lifetime, including asset management and attention to personal care through the use of a power of attorney or living trust. Assist with the analysis of asset planning in anticipation of long-term medical care needs and related expenses.

Life Insurance Planning

Plan with life insurance to provide for the payment of death taxes, including the use of trusts to hold the ownership of policies.

Document Preparation

Skilled and efficient in preparing will and trust documents to direct the organization, administration and disposition of the client's estate.

Estate Administration with a Difference

Represent individual and corporate executors and trustees in the settlement of estates and administration of trusts. Experience includes:
* Commencing probate proceedings in Indiana
* Providing advice on accounting for property interests as assets of estates for the purpose of taxation and valuation of those assets
* Evaluating cash needs of estates for payment of claims, expenses and taxes
Counseling for orderly payment of claims, disposition of assets and distribution of assets
* Facilitating the prompt partial or final distribution of assets from estates

In the estate administration practice area, legal assistants contribute to the collection and assembly of information for estate accounting purposes and assist in the preparation of income and estate tax returns so that the administration can be handled as cost effectively as possible.

Tax Planning That Continues After Death

Counsel the executor or trustee in connection with numerous significant tax planning issues during the settlement of an estate or administration of the trust, including:
* Income tax planning relating to appropriate deductions and selection of the fiscal year
* Marital deduction elections under the qualified terminable interest property rules
* Closely held business exceptions, special use farm valuation and related installment payment opportunities for the tax on closely held business interests
* Payment of estate taxes and expenses through special corporate stock redemption provisions
* Income tax consequences in distribution of assets or income from a trust or estate

Representation from Conference Room to Courtroom

Members of our group practice extensively before the Internal Revenue Service, U.S. Tax Court, U.S. District Courts and Court of Claims on the final determination of estate tax liabilities. We have been engaged as special tax counsel, representing estates and their respective executors in appeals with the Internal Revenue Service or Indiana Department of Revenue to bring tax determination controversies to a prompt resolution.

Baker & Daniels works with members of our firm's litigation team to address and resolve contested probate or estate administration matters, including will contests, disputed claims, accountings and other issues that may arise in connection with the settlement of an estate, as well as contested marital dissolution matters. Frequently, we also counsel beneficiaries of an estate on their interests in the estate.

Baker & Daniels LLP
111 E Wayne St #800
Ft Wayne IN 46802
Tel: 260 424-8000
Fax: 260 460-1700

Lawyers providing advice and counsel for international, national and regional clients' legal and business needs

Lawyers providing advice and counsel for regional, national and international clients' legal and business needs. Creative approaches to litigation, corporate finance, health care and life sciences, labor and employment, intellectual property, international and other leagl issues. Baker & Daniels has offices in Indianapolis, Fort Wayne, South Bend, Chicago, Washington, D.C. and Beijing.