
Hodgson Russ’s Trusts & Estates Practice provides sound legal advice and insight to help protect your assets during your lifetime and for your family’s future. Whether for high-net-worth individuals, businesses, nonprofits, or corporate trust departments—and in local, multistate, and multinational transactions—the Trusts & Estates Practice delivers sophisticated strategies. We advise clients on all aspects of planning, administration, settlement, and taxation of estates and trusts, collaborating with other practice areas to provide comprehensive solutions.
Our Comprehensive Trust and Estate Legal Services
The group’s attorneys go beyond navigating complicated laws and tax codes. Hodgson Russ is known for developing and implementing strategies to protect the assets of its clients from creditors, including spousal creditors in the event of a divorce. This can reduce significantly, and in some cases eliminate completely, death taxes that can otherwise consume more than half of the wealth accumulated over a lifetime, allowing these asset-protection and tax-saving features to continue for future generations. Hodgson Russ was among the first law firms to implement estate planning strategies involving the use of family limited partnerships and related entities. We have lectured widely in this area, including on sales to grantor trusts, and have considerable experience successfully defending these techniques from attacks by the IRS.
Hodgson Russ attorneys serve as advisors to nonprofit organizations and 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 counsel clients regarding the effective use of living trusts and durable powers of attorney to avoid the need for expensive and time-consuming guardianships and probate and to thus enable the families of our clients to settle the affairs of a deceased family member with minimum delay and publicity and at minimum cost.
We’re Experienced Trust and Estate Attorneys
Our trusts and estates attorneys have decades of experience counseling families with international interests on U.S. estate and tax planning matters. We are very familiar with creating and implementing effective estate plans that take into account the effects of U.S. tax laws on U.S. family members as well as on non-U.S. families that own U.S. assets. We collaborate with clients’ trusts and estates lawyers in their countries of residence to ensure estate plans that coordinate the laws of multiple jurisdictions. We have significant experience advising on the related income tax issues that can arise for international families, including with respect to ownership of an interest in foreign trusts, corporations, or other entities. Hodgson Russ attorneys also represent such families in income, gift, and estate tax controversies with the IRS. In addition, with offices in New York State and Florida, Hodgson Russ is particularly well positioned to assist clients who spend time in both states.
Hodgson Russ’s trusts and estates attorneys work closely with the Firm’s business tax attorneys to structure personal retirement plans for high-net-worth individuals and family gift programs to accomplish the multigenerational transfer of assets, as well as to integrate corporate and operational business considerations in the sale or other transfer of closely held corporations to family members or others. The focus is on minimizing taxes and facilitating family and estate-planning objectives. This area of practice encompasses advice on insurance planning, structuring family partnerships, and business-succession planning.
In conjunction with Hodgson Russ’s Employee Benefits Practice, our trusts and estates attorneys offer highly specialized experience and advice in the field of taxation of pension plans, profit-sharing plans, IRAs, and other forms of retirement plans. In addition to working with businesses, professional practices, and self-employed individuals on the design and structure of retirement plans, we frequently advise clients concerning tax and other issues related to distributions from qualified plans and IRAs. Absent successful planning through a complicated maze of federal and state pension and tax rules and regulations, retirement plan assets are subject to both income and estate taxes that can consume in excess of 70 percent of the asset value.
Occasionally litigation arises with respect to various estate and trust instruments, including will contests, interpretation of wills and trust agreements, accountings, and breach of fiduciary duty issues. Our experience ranges from simple will contests to complicated and occasionally high-profile cases. We have experience dealing with the IRS and state departments of taxation and revenue and, when necessary, we represent our clients in connection with tax audits and litigation. We are frequently consulted by accountants, trust companies, and other advisors to assist in a "special counsel" capacity in various tax dispute resolution matters.
Clients advocating for or against changes in the tax law and regulations are assisted by Hodgson Russ attorneys in the Government Relations Practice. Our clients are alerted to legislative and administrative developments by receiving "early warning" services.
Partner with Hodgson Russ for Trust and Estate Legal Representation
To learn more about our trust and estate services and how we can partner with you, contact us today.
- $50 Million Charitable Pledge to University
- Creation of Family Limited Partnership Moves Millions From Client's Taxable Estate Into Trusts
- Family Business Succession Plan Ensures Most Appropriate Descendant Assumes Role of CEO
- Federal and State Tax Considerations for Nonresidents Owning U.S. Real Property
- Income Tax-Deductible Contributions to Foreign Charities Made Possible Through 501(c)(3)
- Large Real Estate Sale in New York City for an Estate
- Life Insurance Premium Financing Strategy Employed to Offset Estate Tax, Provide Significant Inheritance
- Litigation Recovers Decedent's Assets Intended for Charities
- Split-Dollar Life Insurance Plan Implemented to Minimize Personal Income Tax Burden
- Victory in Multi-Million Dollar NY Tax Audit of Exempt Resident Trust
In the News
- Buffalo Business First, December 10, 2020
- October 26, 2020
- Chronicle of the Horse, May 20, 2020
- The Buffalo News, May 11, 2020
- November 17, 2017
- Buffalo Business First, March 21, 2014
- April 12, 2012
- June 2, 2011
- May 6, 2011
- Buffalo Business First, September 17, 2010
- Buffalo News, August 2, 2010
- December 4, 2006
Press Releases
- Hodgson Russ Press Release, August 23, 2022
- Hodgson Russ Press Release, August 19, 2022
- Hodgson Russ Press Release, November 15, 2021
- Hodgson Russ Press Release, June 25, 2021
- Press Release, November 18, 2015
- Press Release, February 7, 2014
Publications
- TaxStringer, January 3, 2023
- Trusts and Estates Law Section Journal - NYSBA, December 12, 2021
- New York Law Journal, January 22, 2021
- Hodgson Russ Trusts & Estates Alert, November 11, 2020
- Hodgson Russ Trusts & Estates Alert, July 21, 2020
- Hodgson Russ Trusts & Estates Alert , March 25, 2020
- Hodgson Russ Trusts & Estates Alert, January 14, 2020
- Hodgson Russ Trusts & Estates Alert, January 2, 2020
- Hodgson Russ Trusts & Estates Alert, December 27, 2019
- Hodgson Russ Trusts & Estates Alert, November 18, 2019
- Canadian Tax Highlights, October 25, 2018
- Estates and Trusts Alert, December 27, 2017
- Estates & Trusts Alert, November 13, 2017
- Trusts & Estates Alert, November 6, 2017
- Tax Alert, November 6, 2017
- Estate Planning Alert, August 18, 2016
- New York State Bar Association, July 1, 2016
- STEP Connection, Toronto Branch Newsletter, April 2016
- New York Society of CPAs TaxStringer, February 1, 2016
- State Tax Notes, December 21, 2015
- State Tax Notes, October 26, 2015
- New York Law Journal, September 22, 2015
- New York Horse, January 2015
- New York Law Journal, January 5, 2015
- Arabian Horse Association of New York Inc. Newsletter and Trust Advisor, America's Leading Wealth Management E-Newsletter, August 2014
- JD Supra, April 4, 2014
- JD Supra, January 28, 2014
- Lawyers Weekly, November 29, 2013
- Tax Stringer, July 2013
- Broadening New York's Decanting StatuteNew York Law Journal, September 2011
- September 16, 2010
- Estates & Trusts Alert, March 26, 2010
- Estates & Trusts Alert, February 3, 2010
- Lawyers Weekly, December 4, 2009
- Canadian Real Estate, December 2009
- Estates & Trusts Alert, July 27, 2009
- Estates & Trusts Alert, March 4, 2009
- Canadian Tax Highlights, February 1, 2009
- September 10, 2008
- Lawyers Weekly, May 9, 2008
- Florida Law Focus, May 1, 2008
- Canadians Buying U.S. Real Property Should Be Aware of Estate TaxLawyers Weekly, February 25, 2005
- Lawyers Weekly, September 24, 2004
- Lawyers Weekly, November 22, 2002
Presentations & Events
- Doubletree by Hilton Hotel Binghamton, October 26, 2022
- April 28, 2021
- February 25, 2021
- October 2, 2020
- July 22, 2020
- April 1 & 2, 2020
- Buffalo, NY, October 21, 2019
- New York City, New York, September 25, 2019
- June 25, 2019
- May 7, 2019
- May 7, 2019
- Saratoga Springs, New York, October 23, 2018
- October 3, 2018
- Estate Tax Planning and Will DraftingFebruary 8, 2018
- Boca Raton, Naples, & Palm Beach Florida, January & February 2016
- Speaker, Tax Implications of Family Wealth Transfer, Introduction to Estate PlanningNYSBA, December 4, 2015
- New York State Bar Association Trusts and Estates Law Section Fall Meeting: Valuation of Real Estate InterestsVerona, NY, October 30, 2015
- New York State Bar Association Introduction to Estate Planning Seminar: Tax Implications of Family Wealth TransferBuffalo, NY, October 20, 2015
- The Harvard Club, 35 W. 44th Street, New York, NY, Summer 2015
- Erie Institute of Law CLE Seminar: Will, Trusts, and Probate - Client Considerations in PlanningBuffalo, NY, May 7, 2015
- Canada/U.S. Cross-Border Estate and Income Tax PlanningToronto, Ontario, September 17, 2014
- Palm Beach & Naples, FL, January & February 2014
- Hamilton, ON, June 5, 2013
- Montreal, QC, March 14, 2013
- Palm Beach & Naples, FL, January & February 2013
- Calgary, AB, November 13, 2012
- New York, NY, October 10, 2012
- Toronto, ON, May 10, 2012
- New York, NY, April 20, 2012
- Calgary, AB, October 18, 2011
- June & July 2011
- Toronto, ON, November 18, 2010
- Calgary, AB, October 28, 2010
- Toronto, ON, October 29, 2009