Description Attorneys

Income, Estate & Gift Taxation

Probate Estates and Trusts are taxable entities for income tax purposes, which require one to ascertain and pay matters of income, deduction, gain and loss. Should the trust pay the income taxes due or should the trust beneficiaries? Must multiple trusts be treated as one for tax purposes? What is the income threshold for estates and trusts – is it the same as for individuals? How should one handle the accounting for probate?

The Estate Planning Practice Group at Halloran & Sage can solve these and many more complicated income and estate issues and guide clients through the complicated matters of probate and trust management throughout the estate’s or trust’s existence. We likewise represent fiduciaries – executors and trustees – in their fiduciary capacity.

Through our Corporate, Estate Planning, and Business Succession Practice Groups, we guide clients in the creation of the proper business entity, create and advise on the business’s succession plans as it grows, integrate such business plans with the client’s estate plan in the most tax-efficient manner, and assist the client’s trust and estate fiduciaries with its proper management. Halloran & Sage is the first and last stop for such legal representation.

Halloran & Sage provides clients with the options to accomplish their business and estate planning objectives while also providing guidance with minimizing any applicable gift taxes. If a gift tax must be completed and filed, we draft the necessary gift tax forms to file.