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Twomey Latham’s practice ranges from routine wills to sophisticated estate and tax planning. A significant portion of our practice is devoted to the preparation of wills, trusts, durable powers of attorney, and other estate-planning documents.
The firm’s estate planning attorneys have extensive experience in the administration of probate and trust estates, the preparation of required income, estate, gift, and inheritance tax returns, and the administration of guardianships.
An individual’s estate plan often calls for more than a traditional will or trust. Our attorneys seek to address the client’s long-term objectives and circumstances in structuring a tax-efficient estate plan. We routinely advise clients on the selection and implementation of planning tools such as revocable living trusts, life insurance trusts, irrevocable trusts, gifting programs, family limited partnerships, deferred compensation arrangements, gift and estate tax planning for retirement benefits, and charitable planning. We also advise and implement succession plans for the transition of families and closely held businesses.
Our Long Island estate planning lawyers focus on providing clients in-depth knowledge of our diverse range of practice areas.
For years estate planning practitioners used a sale to an intentionally defective grantor trust (“IDGT”) to freeze the value of property from the taxable estate of a client. Although not codified in the Internal Revenue Code or regulations as an acceptable estate planning tool, sales to IDGTs have withstood IRS scrutiny.
33 West Second Street
Riverhead, NY 11901
20 Main Street
East Hampton, NY 11937
490 Wheeler Road
Hauppauge, NY 11788
200 North Sea Road, Suite A
Southampton, NY 11968
56340 Main Road
Southold, NY 11971