Manning Fulton has one of the largest estate planning / wealth transfer practices in North Carolina. We concentrate on the creation, preservation and protection of our clients’ assets. We strive to meet your personal, financial and business objectives with careful attention to the minimization of income, estate, gift and generation-skipping transfer taxes.
Our comprehensive estate planning services include the preparation of wills, trusts, financial and health care powers of attorney. The advice related to the preparation of those documents includes planning for the management of assets during client incapacity and protection of family assets from outside influences such as divorcing spouses and creditors. To maximize the transfer of wealth while minimizing income, estate and generation-skipping transfer taxes on current and future assets, we establish irrevocable trusts to own life insurance and to acquire business interests with post-transfer appreciation potential. Implementation of “estate-freezing” may include the preparation of family limited partnerships and limited liability companies designed to centralize asset management and preserve family harmony. We also plan for the beneficiary designation of the life insurance policies, retirement accounts and IRAs that do not pass by will, but may be a substantial portion of the client’s estate. When clients are anticipating the sale or other planned disposition of the family business, we prepare comprehensive business succession and continuation plans. As a part of estate and business planning, we consider the need for structuring intra-family loans, seller-provided financing, self-cancelling installment notes and sales to defective grantor trusts. We plan for the special needs of children or grandchildren and for inheritance by non-citizen spouses. We assist clients wishing to preserve their legacy through the formation of charitable trusts, private foundations, or conservation easements. We prepare or assist with the preparation of estate and gift tax returns to properly report the transactions that we assisted in implementing.
Our lawyers include three Fellows of the American College of Trust and Estate Counsel, a Fellow of the American College of Tax Counsel, Two prior Chairs of the Estate Planning and Fiduciary Law Section of the North Carolina Bar Association and three Board Certified Specialists in Estate Planning and Probate Law. Because three of our lawyers are CPAs, we know how to work with your accountants, bankers, financial advisors and insurance professionals who serve you. In addition, our lawyers have an exceptional record of leadership and service in their areas of practice. These influential positions enable our lawyers to monitor the frequent changes in state and federal tax laws, which give Manning Fulton clients a strategic advantage.