Riggs Davie has worked extensively with families in estate planning matters, including preparation of wills, trusts, powers of attorney, and health care directives and related advice involving tax matters, asset protection, charitable planning, special needs planning, pre- and post-nuptial agreements and other unique circumstances. In addition, we regularly serve as legal counsel to executors, trustees and individual beneficiaries in estate and trust administration matters.
Riggs Davie PLC works closely with individuals and families to develop estate plans to deal with unexpected events, efficiently transition wealth to desired beneficiaries, protect wealth from creditors and divorce and minimize federal and state transfer taxes. Typical estate plans involve drafting and providing advice with respect to wills, trusts, powers of attorney and health care directives. Often plans also include special needs planning, charitable planning, asset protection planning and succession planning. For families with wealth substantially in excess of federal and state tax exemptions, techniques such as life insurance trusts, grantor retained annuity trusts (GRATs), installment sales to grantor trusts (IDGTs), family limited partnerships (FLPs) and charitable trusts are often used to substantially reduce or eliminate taxes. Riggs Davie recognizes that each client has unique needs and concerns, and we work closely with you and your family to create tailored solutions.
Estate & Trust Administration
Estate and trust administration can often seem like a daunting task merely because it is unfamiliar to most individuals. Riggs Davie PLC guides executors and trustees through the administration process with as much or as little help as requested. In estate administration, the process involves advice and assistance with respect to probating wills, transferring and titling assets, funding trusts and bequests, preparing and filing estate and inheritance tax returns, dealing with the local probate court, and protecting the fiduciary against claims of breach of fiduciary duty. Trust administration involves advice with respect to trust setup, trust distributions, fiduciary advice, filing tax returns and often changing or amending trusts (even irrevocable trusts). The Firm’s attorneys also represent individuals in their capacities as beneficiaries of trusts or estates from time to time to ensure their rights are protected.