"Over and over again courts have said that there is nothing sinister in so arranging one's affairs as to keep taxes as low as possible. [F]or nobody owes any public duty to pay more than the law demands: taxes are enforced exactions, not voluntary contributions." —Judge Learned Hand in the Dissenting Opinion to Commissioner of Internal Revenue v. Newman, 159 F.2d 848 (2d Cir. 1947).
The Stites & Harbison Trusts & Estate Planning Group enthusiastically agrees with Judge Hand's opinion above, and we work judiciously to help clients minimize their tax burdens.
The attorneys of Stites & Harbison’s Trusts & Estate Planning Group routinely serve clients in a range of matters that include:
- Living trusts
- Irrevocable trust agreements
- Marital deduction trusts
- Generation-skipping trusts
- Qualified personal residence trusts
- GRATs and GRUTs
- Trusts for minors
- Powers of attorney
- Advance medical directives
- Tax counsel for minimizing current income taxes, future inheritance and estate taxes, and taxes on retirement
- Handling of income tax matters at death
- Planning to avoid the generation-skipping tax
- Exercising powers of appointment
- Beneficiary and distribution decisions under qualified retirement plans and IRAs
We also provide to our clients special assets services such as:
- Estate and trust administration services
- Consultation and counsel to trust companies and individual fiduciaries
- Representation of charitable and non-profit organizations
- Management and disposition of valuable assets
- Valuation of private businesses
- Planning of beneficial interests under trusts
- Advice on the use of family limited partnerships and limited liability companies to maximize transfer tax savings for business and family assets
- Planning for foreign holdings
- Advice with respect to charitable gifts of tangible property and appreciated securities and on "remainder" and "lead" gifts.
MEMPHIS, Tenn.—Stites & Harbison, PLLC welcomes attorney Andrew Battle Sanders as Counsel to the firm based in the Memphis, Tenn., office.