WEINSTOCK MANION: ESTATE PLANNING, TRUST AND ESTATE ADMINISTRATION, TRUST AND ESTATE LITIGATION
The attorneys of Weinstock Manion have been leading authorities in the estate planning field for more than 55 years, devoting themselves to the complex task of ensuring that each plan reflects each client’s unique concerns, goals and values. The firm is widely known for its subject-matter expertise and proactive client service in an array of related specialty areas including wealth transfer planning, estate and trust administration, estate and trust litigation, business succession planning, and charitable planning and family foundations.
Recent statements by a treasury official have sparked speculation that an often-used technique for shifting wealth among family members may soon be severely curtailed through new regulations that may be issued by the IRS. Family business entities have long been structured so as to include certain restrictions that result in discounted values for ownership interests. To the frustration of the IRS, this strategy has been largely supported by the courts and has allowed families to leverage gifts or sales of ownership interests to other family members at a significantly lower tax cost.
The possible new regulations may reduce or eliminate these valuation discounts by directing that certain business entity restrictions be disregarded in valuing ownership interests for intra-family transactions. The impact of this would be a significant increase in appraised values, which, in turn, would result in higher taxes. Ultimately, this would have an adverse effect on what is currently one of the most significant and efficient methods for senior family members to shift value out of their estates to younger family members.
If there was ever any doubt about the importance of having a timely, responsive estate plan, recent and imminent changes in tax law have put all such doubt to rest. Between complex family arrangements, changing personal circumstances and changes in tax law, proper estate planning requires a high degree of proficiency, creativity and diligence. This is what Weinstock Manion strives to deliver, and it’s the reputation the firm has worked hard to attain.
Clients initially seek out Weinstock Manion for its expertise but their families remain clients for generations because they appreciate the sensitivity with which the firm’s attorneys handle delicate or volatile family situations.
A devastating loss, the difficulties that come with incapacity or a family dispute can leave a client feeling vulnerable, angry or overwhelmed. These clients need someone who understands them and the real impact of these developments on their families’ well-being. The attorneys at Weinstock Manion bring a level of compassion and caring over and above their technical proficiency and experience.
This sensitivity and caring can be especially important when conflicts arise, as they inevitably do from time to time in such a personal area of law. Whether the dispute is between family members, or between beneficiaries and fiduciaries, the firm’s expert litigation team does everything possible to settle differences without going to trial, including mediation as appropriate. The attorneys of Weinstock Manion understand that litigation can tear a family apart and they try to avoid it whenever possible.
Over the decades, Weinstock Manion has consistently provided outstanding legal services, making every effort to preserve and secure their client’s family harmony and legacy for generations.
1875 Century Park East, Suite 2000, Los Angeles, CA 90067 | ph: 310.553.8844 | www.weinstocklaw.com
