Private Wealth Law for High Net Worth Individuals

Managing private wealth requires a deep understanding of the complex laws and regulations surrounding it. Private wealth law is designed to protect the financial interests of high net worth individuals.

Tax planning is a critical component of private wealth law, with strategies including trusts, wills, and estate planning to minimize tax liabilities.

International tax laws can be particularly challenging for high net worth individuals with global assets. A well-structured tax plan can help mitigate these complexities.

Discretion and confidentiality are essential in private wealth law, with many clients requiring anonymity and secrecy.

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Estate planning is a crucial aspect of private wealth law, helping individuals create a customized plan that addresses their unique needs and goals. Estate plans can be modified to accommodate changing family dynamics through the creation and modification of trusts.

Trusts are a key component of estate planning, allowing individuals to manage and distribute their assets in a way that aligns with their values and priorities. Asset protection planning is also essential, helping to safeguard assets from creditors and lawsuits.

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Insurance planning is another critical aspect of estate planning, providing financial security for loved ones in the event of a person's passing. Business succession planning ensures that a family business or enterprise continues to thrive after the owner's retirement or incapacitation.

Guardianships and conservatorships are also important considerations in estate planning, particularly for individuals with young children or those who require ongoing care and support. Estate and fiduciary tax returns must be prepared accurately to minimize tax liabilities and ensure compliance with tax laws.

We draft wills and trusts, handle the sensitive issues involved in probate, and represent fiduciaries and beneficiaries before the IRS.

Business and Taxes is a crucial aspect of private wealth law. Our lawyers develop strategies to minimize tax costs and prevent the erosion of wealth for our clients.

We draw on the experience of our corporate and real estate attorneys to provide clients with favorable tax outcomes. This includes traditional C corporations, closely held pass-through entities, and representation before the Internal Revenue Service, state courts, and administrative agencies.

The tax planning process can be complex, but our lawyers are here to guide you through it. Approximately half of private wealth lawyers' time is spent in the context of tax planning, ensuring that our clients' financial goals are met.

Family businesses often serve as a way to manage a family's entire wealth, which can be a complex and delicate process. Family businesses can span generations, each with their own unique approaches to business, succession planning, and preserving wealth.

Developing a short- and long-term legal strategy is crucial for achieving business goals and transitioning wealth and leadership from one generation to the next. This counsel can benefit family businesses at any stage of their life cycle, from entrepreneurs just starting to build their family legacy.

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Tax planning is a crucial aspect of private wealth management, with approximately half of private wealth lawyers' time spent in this area. It involves minimizing tax costs and preventing the erosion of wealth while achieving business and personal objectives.

Traditional C corporations and closely held pass-through entities like limited-liability companies (LLCs), partnerships, and S corporations can be used to achieve favorable tax outcomes. Representation before the Internal Revenue Service, state courts, and administrative agencies is also part of tax planning.

Personal representatives of an estate have a duty to preserve the value of the estate for the ultimate beneficiaries, which may involve amending buildings insurance to ensure it's sufficient for the full rebuild costs of the building today. Selling wasting assets like vehicles as soon as possible in the estate can also help mitigate capital gains tax.

Mitigating capital gains tax in the estate is crucial when assets are to be sold for significantly more than their probate value. This requires careful planning to minimize tax liabilities and maximize the value of the estate for the beneficiaries.

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We represent over 400 nonprofit and tax-exempt organizations, advising them on federal tax law and regulations governing tax-exempt organizations. Our tax, trusts, and estates attorneys have a strong reputation for maximizing the benefits of charitable gifts.

Fiduciaries rely on our advice to minimize risk and maximize fiduciary performance, and we advise them on best practices in administration, compliance, and beneficiary interactions. We also prepare fiduciary records and accountings for internal compliance and for presentation to the court for approval when necessary.

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Our experienced team includes litigators with significant knowledge in trust and estate law, and estate planning attorneys who regularly administer complex estates and trusts. The combination of experienced litigators and estate planning attorneys allows us to evaluate the issues in each case, including tax consequences, and to advise our clients in a manner that both protects their interests and preserves the assets of the estate or trust.

In estate and trust litigation, disputes can arise involving an estate or trust, and our team is equipped to handle these complex cases. Our experienced litigators have significant knowledge in trust and estate law.

We combine the expertise of litigators and estate planning attorneys to evaluate the issues in each case, including tax consequences. This approach allows us to advise clients in a way that protects their interests and preserves the assets of the estate or trust.

Our team regularly administers complex estates and trusts, and we can advise clients on the best course of action to take.

We represent more than 400 nonprofit and tax-exempt organizations, providing comprehensive advice on federal tax law and regulations governing tax-exempt organizations.

Our tax, trusts and estates attorneys have a strong reputation for maximizing the benefits of charitable gifts, which is why donors and foundations/nonprofit institutions seek our guidance in structuring such gifts and using donor-advised funds.

We counsel on the tax consequences of charitable planning alternatives, the donation of different types of property, and the needs and structure of nonprofit and tax-exempt organization recipients.

Our team has significant knowledge in trust and estate law, allowing us to evaluate the issues in each case, including tax consequences, and advise our clients in a manner that both protects their interests and preserves the assets of the estate or trust.

We draft wills and trusts, handle the sensitive issues involved in probate and other aspects of estate and trust administration, and prepare estate and fiduciary tax returns for our nonprofit clients.

Our guidance in structuring charitable gifts and using donor-advised funds helps maximize the benefits of charitable giving, creating an enduring legacy for our clients.

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The Fiduciary and Nonprofit sectors have unique departments that work together to achieve their goals.

The Fiduciary sector has a dedicated Trust and Estate Planning department that helps individuals manage their assets and make informed decisions about their financial future.

Nonprofit organizations have a Development department that focuses on fundraising and building relationships with donors to support their mission.

Fiduciary firms often have a Risk Management department that identifies and mitigates potential risks to protect their clients' assets and reputation.

Nonprofits have a Programs department that oversees the implementation of their mission-driven activities and services.

The Fiduciary sector's Investment Management department is responsible for selecting and managing investment portfolios on behalf of their clients.

Nonprofit organizations have a Communications department that handles public relations, marketing, and social media to raise awareness about their cause.

Many Fiduciary firms have a Compliance department that ensures they adhere to regulatory requirements and industry standards.

Nonprofits have a Governance department that oversees the organization's leadership and decision-making processes to ensure accountability and transparency.

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We offer a range of publications and events to help you stay informed about the latest developments in private wealth law.

Our team regularly publishes alerts and analyses on key topics, such as the Corporate Transparency Act, which was put on pause again in December 2024 due to a nationwide injunction. We also provide insights on the impact of new administrations on tax and trusts & estates, as seen in our analysis of Trump's first 100 days.

We also host webinars and seminars on various topics, including developments in trusts & estates, estate planning & fiduciary litigation, and business law updates. For example, our webinar on "Developments in Trusts & Estates" took place on February 8, 2022, and our seminar on "Estate Planning and Fiduciary Litigation Seminar - St. Louis" was held on September 28, 2022.

Some of our notable publications include:

The publications section of our website is a treasure trove of information on various topics, including tax, trusts, and estates. Our team has been diligently tracking the latest developments and providing timely updates to our readers.

We've seen a significant number of alerts and analyses published in 2024, with topics ranging from the Corporate Transparency Act to the Trump Administration's first 100 days. For example, in December 2024, we published an alert about the Corporate Transparency Act being put on pause again due to a nationwide injunction reinstatement.

Some of our notable publications include "Trump's First 100 Days: Tax, Trusts & Estates" and "Trump's First 100 Days: Private Business", both published in December 2024. These analyses provide valuable insights into the implications of the new administration on various aspects of law and business.

We've also published several alerts in 2024, including one about the nationwide injunction halting Corporate Transparency Act enforcement in December 2024. Another alert in December 2024 informed readers about the 1099-K reporting deadline being stayed, with a new filing deadline set for January 13, 2025.

Here are some of our notable publications from 2024:

We host various events throughout the year, covering topics such as estate planning, trusts, and corporate transparency.

Our events range from webinars to seminars, offering a mix of online and in-person learning opportunities.

Some of our most recent events include a webinar on developments in trusts and estates, which took place on February 11, 2025, and another on complying with the Corporate Transparency Act on October 1, 2024.

We also organize in-person events, such as the 2024 Estate Planning & Fiduciary Litigation seminar in St. Louis, which was held on September 24, 2024.

Here are some of our upcoming and recent events: