Estates & Trusts Tax Services

Lovoy, Summerville & Shelton understands that estate and gift tax planning can be very personable.  You worked hard for many years to grow your assets.  You wish to protect those assets yet provide for the future of your family and/or certain charities. We will work with you to achieve your personal and financial objectives of tax minimization, retention of control and preservation of family harmony.

Our partners have experience in assisting in the development of strategies, which may facilitate:

• Working with counsel to prepare a Last Will and Testament

• Lifetime giving plan

• Creation of trusts, which may include:

  • Qualified Personal Residence Trusts (QPRTS)

  • Grantor Retained Annuity Trusts (GRATs)

  • Charitable Remainder Trusts (CRTs)

  • Charitable Lead Trusts (CLTs)

• Use of other vehicles such as:

  • Family Limited Partnerships (FLPs)

  • Restructured business assets, including corporations

  • Installment sales

  • Generation-skipping planning

  • Evaluating the need for life insurance

We work with families on preparation of the tax returns which reflect the planning strategies implemented.  These returns may include annual gift tax returns, trust returns, or family partnership returns.  After a family member passes, we work with families to distribute assets in accordance with terms of the Last Will and Testament and prepare the tax return for the estate.