Trusts & Estates
Our traditional Trusts & Estates practice emphasizes client satisfaction. We distinguish ourselves on the comprehensive, responsive, first-class service and value we offer to our clients. We provide not only estate, tax and business planning services and techniques but also estate administration and estate litigation services. We emphasize our core principles of Trust, Communication, Innovation, Experience and Value which guide our attorneys and professionals in all client relationships.
TRUST. We value the relationships we develop with our clients and strive to build trust that will last a lifetime. Trusts & Estates services touch the very core of clients’ lives and the lives of their families. We are committed to client confidentiality and tailor our services to meet the personal goals and desires and family dynamics of our clients. We provide client-centered services; we are not selling a commodity. We go the extra mile for our clients and help our clients achieve real results.
COMMUNICATION. We are committed to keeping our clients informed about the planning, administration or litigation process we have been engaged to pursue. We respond promptly to client questions, phone calls and inquiries. We provide comprehensive written communication in a variety of ways throughout the planning process, administration process and litigation process. In our planning, we provide clear, concise and personalized letters, summary tables and flowcharts to assist our clients in fully understanding the planning. In estate administration, we provide detailed letters outlining the administration process and the responsibilities of personal representatives. We keep beneficiaries and all interested parties informed of the process and the progress of estate administration. We keep the client informed and engaged through written communication about the process, progress, costs and strategies of litigation. And then, when the planning or other service is complete, we follow up. We keep in contact with our clients to make certain that the work is complete and understood and that the planning continues to meet their desires, goals and expectations.
INNOVATION. Our planning services range from Essential Planning to the most innovative and sophisticated planning techniques. We provide planning options that meet the personal goals and desires of our clients, including techniques for minimizing taxes and maximizing asset protection. We are committed to producing the highest quality planning documents. We tailor clients’ plans for the accumulation, preservation, administration and tax-efficient distribution of wealth, yet we have the skill and experience to develop plans to meet clients’ expectations. Our plans are developed for the individual situations we encounter and we weigh with our clients the benefits, risks, complexity, and practical aspects of every plan. We strive to “keep it simple” and understandable.
EXPERIENCE. Our Trusts & Estates attorneys and other professionals have many years of experience and skill in estate planning and sophisticated planning techniques, estate administration and estate litigation. Our broad technical skills allow us to offer comprehensive services to meet the needs and desires of our clients. With our many years of experience in trust and estate matters, our attorneys have developed and continue to develop close relationships with the accountants, appraisers, bankers, brokers, insurance agents, and trust officers with whom we work for our mutual clients’ benefit. These relationships, coupled with Stoll Keenon Ogden’s broad experience, allow us to offer comprehensive and team-oriented planning services to our clients.
VALUE. We recognize that our clients have a choice, and we are committed to providing our personalized services at costs that add value to the lives of our clients. In offering our planning services, we provide alternative billing arrangements that are all-inclusive. The fees include phone calls, meetings and implementation services expected by clients to be included as part of those alternative billing arrangements. In offering our estate administration services and estate litigation services, we typically provide our services at hourly rates but will provide alternative billing arrangements if preferred by our clients. We strive to complete our work in an efficient, effective and timely manner.
ESTATE, TAX AND BUSINESS PLANNING SERVICES
Essential Planning. These services include completion of the essential planning documents: wills with issue trusts, powers of attorney, health care surrogate designations, living wills and HIPAA authorizations. Every client should have these documents at a minimum – they are essential to protect and provide for your family while minimizing problems and costs upon death. However, we are not hired simply to produce a will or other estate planning documents; we become trusted advisors to resolve challenges faced by our clients and their families.
Complex Planning. We also offer more complex and comprehensive estate, tax and business planning techniques to appropriate clients, and may include such planning vehicles as Delaware trusts, family protection trusts, dynasty trusts, grantor trusts, charitable trusts, insurance trusts, A/B trusts, IRA trusts, qualified personal residence trusts, grantor retained annuity trusts, educational trusts, Medicaid and special needs trusts, family limited partnerships, limited liability companies, business succession documents including buy/sell agreements and many other estate planning and related business documents. In implementing these vehicles, we advise clients about the benefits, risks and on-going administration costs of each planning opportunity.
Planning Process. We advise clients about the planning process and each of the steps necessary for the adoption and operation of the plan. The planning process consists of three interrelated steps: (1) planning and document execution; (2) implementation of the plan; and (3) administration of the plan. We believe clients must understand the process on the front end – before the plan is adopted and the work has begun, and we are committed to helping clients in this regard.
Family Disclosure. We encourage our clients to discuss with family members the estate planning implemented. This discussion leads to realistic expectations among family members and lessens the likelihood of potential family disputes.
ESTATE ADMINISTRATION SERVICES.
Process. We understand that estate administration occurs while clients are experiencing a range of difficult human emotions. We strive to provide compassionate service while keeping our clients informed of, and assisting them with, the responsibilities and duties of personal representatives. We diligently represent our clients in the preparation and filing of estate and inheritance tax returns, in any audits of those returns, in the collection of assets and payment of legally owed debts and liabilities of the decedent, in the protection of the estate plan adopted by the decedent, and in all aspects of the estate administration and probate process.
Postmortem Planning. We review with our clients the various tax elections, disclaimer options and other post-death planning opportunities available to minimize taxes and protect the planning intended by the decedent.
Valuation. The valuation of estate property can have a significant effect on estate and inheritance taxes assessed against the estate. We assist in determining the type and scope of the valuation necessary and in locating and engaging the professional appraisers, if needed, to conduct the valuation.
TRUSTS & ESTATES LITIGATION AND OTHER SERVICES
Trusts & Estates Litigation Representation. Our attorneys are experienced in assisting clients in all aspects of trusts and estates litigation: representing trustees, executors and administrators protecting trusts or estates; administering trusts or estates; collecting assets of estates to representing beneficiaries seeking a fair distribution of trusts or estates; defending institutions and attorneys from asserted claims by personal representatives; reviewing decedent’s account statements to confirm that the decedent has not been the victim of securities violations; asserting claims against brokers and advisors if potential claims are identified.
Our Trusts & Estates Litigation Subgroup represents clients in will contests, the challenge and defense of inter vivos gifts, and issues concerning the management and operation of trust properties by fiduciaries. Our attorneys are involved in litigation in which the primary issues are the testamentary capacity of, or undue influence on, the individual. Our firm has successfully challenged the execution of wills on behalf of family members, and defended the validity of wills which have been challenged by heirs. We recognize that litigation in such matters can be emotionally and financially draining on parties, and we make every effort to employ mediation or alternative means of resolving these disputes.
Elder Law and Guardianship. We provide elder law planning and assistance to our elderly clients by navigating the health care system, Medicaid planning and end of life decisions. We provide guardianship services to our clients if needed, and have experience in obtaining guardianship appointments and in handling incompetency court proceedings, if needed.
Trust Reformation. Our attorneys are familiar with the requirements for reformation of a Trust and have experience filing and obtaining from the courts of Kentucky the necessary approvals for such amendments and reformations. We have obtained approvals for amending the process for appointing trustees and changing who can be appointed trustee, for terminating small trusts, for reforming dispositive provisions and for obtaining many other changes in trust agreements.