International Trust & Estates

Capitol City Legal is known for creating and implementing strategies to protect our international clients' assets from creditors, including spousal creditors in the event of a divorce. This can significantly reduce, and in some cases eliminate, death taxes that would otherwise consume more than half of a lifetime's wealth, allowing these asset-protection and tax-saving features to be passed down to future generations. Capitol City Legal was one of the first law firms to use family limited partnerships and related entities for estate planning purposes.

Capitol City Legal attorneys serve as advisors to nonprofit organizations with cross-border interests to develop strategies to enhance the tax benefits of lifetime and testamentary charitable giving, both to public charities and to private and supporting foundations. Hodgson Russ attorneys routinely advise foreign clients on the effective use of living trusts and durable powers of attorney to avoid the need for expensive and time-consuming guardianships and probate, allowing our clients' families to settle the affairs of a deceased family member with minimal delay, publicity, and cost.

Capitol City Legal's trusts and estates attorneys collaborate closely with the Firm's business and tax attorneys to design personal retirement plans for high-net-worth individuals and family gift programs to facilitate multigenerational asset transfers, as well as to incorporate corporate and operational business considerations into the sale or other transfer of closely held corporations to family members or others. The emphasis is on minimizing taxes and facilitating family and estate planning goals. This area of practice includes advice on insurance planning, family partnership formation, and business succession planning.

In collaboration with Capitol City Legal's Employee Benefits Practice, our trusts and estates attorneys provide international clients with highly specialized experience and advice on the taxation of pension plans, profit-sharing plans, IRAs, and other types of retirement plans. In addition to designing and structuring retirement plans for businesses, professional practices, and self-employed individuals, we frequently advise clients on tax and other issues relating to distributions from qualified plans and IRAs. Without proper planning through a complex maze of federal and state pension and tax rules and regulations, retirement plan assets are subject to both income and estate taxes, which can consume more than 70% of the asset value.

Cross-border litigation over various estate and trust instruments, such as will contests, interpretations of wills and trust agreements, accountings, and breach of fiduciary duty issues, does occur on occasion. Our experience ranges from straightforward will contests to complex and occasionally high-profile cases. We have prior experience dealing with the IRS and state departments of taxation and revenue, and we represent our clients in tax audits and litigation as needed. Accountants, trust companies, and other advisors frequently seek our assistance as "special counsel" in various tax dispute resolution matters.

Capitol City Legal's government relations team assists clients who are advocating for or against changes to US tax law and regulations. Our international clients benefit from "early warning" services, which notify them of legislative and administrative developments.