Estate and Wealth Preservation Planning

 

 

Brann & Isaacson’s estate and wealth preservation planning practice covers the spectrum from simple to complex succession planning for high net worth individuals and family offices.  In addition to document preparation, we provide experienced counsel concerning probate and trust administration, private wealth management, probate litigation, charitable gift planning and non-profit governance.

Our practice group is comprised of two partners, Martha (“Meg”) Greene and Kenleigh Nicoletta, and Cindy Violette, Advanced Certified Paralegal, who collectively have over 60 years’ experience. We are passionate about our work and collaborate seamlessly with each other, which results in creative solutions and increased efficiency.  We also work closely with the firm’s business, real estate and litigation attorneys in order to provide the full complement of service to our clients.  Because we represent a number of multigenerational families with complex planning needs, we have the knowledge and expertise to provide “best in the United States” service to every client.

We do not provide client names, testimonials or a description of recent transactions because we guard the privacy of everything that we do for our clients.

Our practice is statewide.  While our main office is located in Lewiston, we frequently meet our clients at our Portland office as well as their homes and businesses throughout Maine.

We prepare very simple estate plans for our clients on a flat fee basis, consisting of four fundamental planning documents: a Last Will and Testament (which may include testamentary trust planning for minors or other beneficiaries), a Durable Power of Attorney, an Advance Health Care Directive and a HIPAA Release.  We advise clients regarding proper completion of beneficiary designations for life insurance and retirement plan benefits, as well as planning for management and disposal of a client’s “digital assets.”

 

We prepare sophisticated estate plan documents that incorporate transfer and income tax-efficient planning in accordance with each client’s personal financial and family situation.  We advise clients on all aspects of wealth transfer planning, including gift planning during a person’s lifetime, capital gain planning, estate planning to take effect at death, and business succession planning.  Planning includes protection of unique assets such as a family vacation home, closely-held businesses, and/or retirement plan benefits, as well as advice on charitable giving techniques.  We have a deep understanding of complex estate planning strategies, such as installment sales, grantor trusts, qualified personal residence trusts, GRATs, family limited partnerships, charitable remainder trusts, and charitable lead trusts, and provide advice on life insurance planning, including the use of life insurance trusts and premium payment arrangements such as split-dollar and premium financing.

 

We provide comprehensive probate administration and fiduciary services to personal representatives and trustees, including the preparation of all necessary probate forms and petitions, fiduciary inventories
and accountings, federal and state estate tax returns, and federal and state income tax returns for estates and trusts. We also have significant experience providing comprehensive trust administration services and will serve as Trustee in appropriate circumstances.

We advise heirs, beneficiaries, and fiduciaries regarding proceedings in the probate court, including negotiating and drafting nonjudicial settlement agreements, forensic accounting for trusts and estates, trust reformations and terminations, trustee succession, and, in partnership with the firm’s experienced litigation practice, probate controversies.  We also represent clients in guardianship and conservatorship proceedings in the probate court. CLICK HERE to learn more about our litigation practice.

We provide a wide range of services to charitable organizations, including creating the organization and obtaining tax-exempt status with the IRS for both private foundations and public charities, providing guidance regarding annual filing requirements, governance and best practices, and advice regarding mergers or terminations of existing organizations.  We also have the expertise to conduct the day-to-day operation of a private foundation.   

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