Estate Planning

Jostock & Jostock, P.C. has been helping clients and their families implement strategic estate plans for decades. We strive to help clients recognize their financial objectives and work to chart a financial and legal course that secures their future for their families and beneficiaries. Our clients include entrepreneurs, executives, owners of established businesses, owners of closely held and family businesses, retirees, professionals and their family members. We take into account current and projected changes in the federal and state tax laws which may affect our clients’ plan and we utilize our experience and knowledge to implement the most tax effective plans available thereby ensuring that every client’s objective is met.Jostock & Jostock, P.C. - Estate Planning

The attorneys at Jostock & Jostock have been practicing estate planning for decades and have prepared numerous complex estate plans and administered countless estates and trusts. We represent numerous clients consisting of several generations of family members who have used our expertise in multigenerational wealth planning to pass assets and control of businesses to children, grandchildren and great grandchildren. This commitment from our clients demonstrates the effectiveness of our services and our long-term commitment to providing excellent representation and planning.

We assist clients in developing estate plans often focusing on complex estate, gift, income and generation-skipping tax issues.  We customize our planning to address our clients’ specific needs and goals.  Our firm is regularly involved in complex estate and tax planning matters that require the use of various techniques such as:

● revocable and irrevocable trusts ● split interest charitable trusts ● “dynasty” trusts ● grantor retained income trusts (“GRIT”) ● grantor retained annuity trusts (“GRAT”) ● “AB” trusts  ● “ABC” trusts ● irrevocable insurance trusts ● qualified domestic trusts  ● qualified terminable interest property trusts (“QTIP”) ● life insurance trusts ● special needs trusts ● family limited partnerships ● charitable lead and remainder trusts ● qualified personal residence trusts ● wealth replacement mechanisms ● valuation reduction and freezing strategies with respect to non-marketable and illiquid assets and other strategic transfer mechanisms.

Our role is to help clients with wealth transfer issues and to assist managing their assets during their lifetime and achieve their goals after death. We are experienced in establishing trusts and powers of attorney, which are used to aid in handling an individual’s financial and medical affairs in the event of a period of physical or mental disability. Our firm regularly handles the preparation and implementation of “revocable” trusts, “living” trusts, “living” wills and powers of attorney for health care and property. We assist clients in navigating the complex interactions between their goals and gift taxes, assist in retirement account distribution choices, work on dividing assets between spouses to minimize death taxes and develop charitable vehicles to accomplish desired results. We have broad experience in preparing and filing gift tax returns, including asset valuation issues and audits.  We also have considerable experience representing clients in the negotiation and implementation of premarital, cohabitation and postnuptial agreements.

Jostock & Jostock, P.C. frequently encounters estates comprised of closely held business interests or commercial real estate holdings. We have broad experience in developing succession plans for those types of assets.  In addition, our firm deals with other assets that present unique planning issues, such as artwork, antiques and collectibles, intellectual property, farms and timberland, mineral rights and employee benefits.

We advise executors, trustees and beneficiaries of trusts and estates on all aspects of estate and trust administration. This includes advising fiduciaries on duties and powers, tax planning and court filings as well as providing litigation services in connection with trust and estate accountings and document interpretation. We assist clients in litigated matters including tax controversies arising during their lifetimes and after their death.

Key Areas of Service:

  • Estate planning to achieve your personal and financial objectives of tax minimization, retention of control and preservation of family harmony
  • Preparing traditional estate planning documents, including preparation of revocable trusts, irrevocable trusts and wills;
  • Handling the day-to-day administration of complex estates and trusts, including those holding a substantial ownership interest in real estate and business enterprises;
  • Counseling on business structuring and control issues, including the creation of family limited partnerships and limited liability companies, as well as the establishment of various levels of equity participation;
  • Counseling on advanced life insurance planning techniques;
  • Creating family gift and charitable gift programs, including the preparation of private foundation charitable trusts
  • Representing clients before the Internal Revenue Service at all levels, including audits, the appellate level at the Internal Revenue Service and Tax Court and district court litigation
  • Advise and assist in the development of strategies, which may facilitate:
    • Lifetime giving
    • Creation of trusts, which may include:
      • Qualified Personal Residence Trusts (QPRTS)
      • Grantor Retained Annuity Trusts (GRATs)
      • Charitable Remainder Trusts (CRTs)
      • Charitable Lead Trusts (CLTs)
    • Multigenerational wealth transfers:
      • generation-skipping and dynasty trust tax planning
      • Use of other vehicles such as:
        • Family Limited Partnerships (FLPs)
        • Annuities
        • Restructured business assets, including corporations
      • Installment sales
      • Generation-skipping planning
  • Representing clients in contested and uncontested probate and trust matters (both fiduciaries and beneficiaries);
  • Establishment of minor and disabled adult guardianships and guardianship administration;
  • Premarital, postnuptial and cohabitation agreements.

Estate Planning Concentration Descriptions:

Business Succession Planning
Estate Planning Techniques

  1. Please feel free to contact us with any questions, comments or if you would like to set up a consultation