Durham Law Office

Diamond View II, 280 South Mangum Street, Suite 130, Durham, NC 27701

(919) 787-8880 Contact

Raleigh Law Office

3605 Glenwood Avenue, Suite 500, Raleigh, NC 27612

(919) 787-8880 Contact

Our Expertise

Our professionals assist clients with gift, estate, and generation-skipping transfer (GST) tax planning to preserve family wealth for generations. Effective gift, estate, and GST tax planning can be daunting.  Our professionals are knowledgeable about the gift, estate and GST tax laws which allows them to work with clients to advise them on a variety of strategies and assist them with determining which will best suit their families’ goals.  Below are some of the gift, estate, and GST tax planning strategies or structures that we can assist you with that may be beneficial to you and your family:

  • Advising on benefits of disclaiming inherited assets
  • Assisting with beneficiary designations
  • Calculating projected gift and estate tax on use of alternative transfer tax strategies
  • Discussing and drafting grantor retained annuity trusts (GRAT) and qualified personal residence trusts (QPRT)
  • Discussing the pros and cons of portability
  • Drafting irrevocable life insurance trusts and coordinating the transfer of life insurance policies to them to utilize annual gift tax exemptions and minimize estate taxation of insurance proceeds
  • Forming charitable trusts and advising on the tax implications
  • Forming family limited liability companies and family limited partnerships designed to consolidate asset ownership, manage real estate investments and minimize estate and gift taxation by planning for gifting ownership interests in these entities
  • Forming “intentionally defective” grantor trusts for gifts of assets, with “estate freezing” objectives, with spouse and other family members as trust beneficiaries
  • Forming private foundations
  • Planning for a non-citizen spouse
  • Planning for effective use of general and special powers of appointments
  • Planning for multigenerational transfer of assets and drafting dynasty trusts
  • Structuring intra-family loans, seller-provided financing, self-canceling installment notes and sales to “intentionally defective” grantor trusts for “estate freezing” objectives
  • Structuring the use of lifetime gifts and marital or charitable deduction trusts to minimize or defer estate, gift, and generation-skipping transfer taxes
  • Utilizing life insurance trusts to provide liquidity for estate taxes

Understanding the gift, estate, and GST tax laws is critical to helping our clients achieve gift, estate and GST tax efficiencies. Once planning has been completed, Manning, Fulton’s experienced attorneys can assist, as requested, with implementing the plan and reviewing the plan as circumstances change.

For more information about these services, please reach out to:

Estate and Gift Tax Planning Team

Steve Byrd and his team at Manning Fulton have provided me sound advice for 25 years as I started and sold a business , established estate planning to best provide for my children, and continue to have questions over the nuances of gifting and tax law. Steve is knowledgeable, relatable and responsive on a wide variety of legal issues. I trust him and consider him a friend as well as an important advisor.

Sharon Price
former Owner and President of a NC based clinical research company

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Contact Us Durham/Raleigh