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Introduction
Davis Wright Tremaine has one of the oldest
and largest trusts and estates practices in the Northwest. We focus
on the individual needs of our clients, emphasizing personalized planning
rather than standardized packages. Our planning and administration
services encompass the full range of economic wealth: real estate
holdings, stock and bond portfolios, closely held partnerships and
corporations, and significant employee benefits.
The trusts and estates practice ranges from
routine wills to complex plans for large estates to special comprehensive
estate planning for young professionals and executives. Areas of
emphasis include gift, estate and generation-skipping tax planning;
preparation of wills and trusts; administration of probate and trust
estates; estate planning for the business owner; charitable and
deferred giving (including private foundations); and representation
of executors and trustees.
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Advisory Bulletins and Articles
In
the Wake of Hemphill: Washington Legislature Enacts New
Estate Tax
By James A. Flaggert and Peter J.
Johnson
Choice
of Law in Trusts: How Broad is the Possible Spectrum?
By Malcolm Moore
© 2002 University
of Miami School of Law. Reprinted with permission from the Philip
E. Heckerling Institute on Estate Planning, published by Matthew
Bender & Co., Inc., part of LexisNexis. All rights reserved.
Practice Area News
Practice Area Philosophy
While in many respect our Practice Group members regard themselves
as tax lawyers, the role of the trusts and estates lawyer is more
than anything else a family counselor. The transfer of wealth between
generations and caring for incapacitated persons brings all forms
of personal concerns, objectives, and conflicts to bear. Dealing with
these diverse situations requires more than technical knowledge -
practical experience and sensitivity are equally important. We at
Davis Wright Tremaine practice this philosophy on a daily basis.
Keeping Clients Informed
We also feel it is important to provide our clients with the necessary
knowledge to make informed decisions. To that end, our attorneys
keep abreast of the latest developments in the trusts and estates
field, both nationally and on state levels. For example, we are
familiar with recent federal tax legislation, such as the generation-skipping
transfer tax and the new rules for family transfers of business
interests.
Professional Development
Our Practice Group members maintain involvement in a number of professional
associations to stay informed on new developments and strengthen
valuable professional relationships within the field. The American
College of Trust and Estate Counsel is one such association, comprised
of 2600 lawyers, nationally. Membership in this association is limited
to lawyers who have actively practiced estate planning and probate
law for ten years or more.
Legal Assistants
The Legal Assistants in the Practice Group
provide a valuable service to our clients. Their detailed knowledge
supports the attorneys and provides focused assistance in planning
and administration activities. They possess substantial experience
in their areas of responsibility, resulting in accurate and efficient
services to clients.
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Department Members
- Bellevue
Richard A. Klobucher
- New York
David P. Callahan
- Portland
James F. Ambrose
Patrick J. Green
Amelia E. Heath
Milton C. Lankton
Erik Schimmelbusch
- Seattle
Steven W. Andreasen
James A. Flaggert
Ladd B. Leavens
Douglas S. Lloyd
Malcolm A. Moore
Kimbrough Street
Related Practice Areas
Tax-Exempt
Organizations
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Range of Services Offered
Wills
and Trusts
A significant portion of the Practice Group's time is devoted to the
traditional aspects of will and trust document preparation. We take
into consideration the client's desires, assets and the impact of
state and federal tax laws. In an effort to make this service as efficient
as possible, our Practice Group has developed and maintains a variety
of estate planning forms, including wills, trusts, community property
agreements, partnership and buy-sell agreements, etc. These forms
represent a "state of the art" approach to estate planning. We take
into consideration ongoing changes in the tax laws as well as underlying
state trust and probate laws when updating and maintaining these forms.
Although our use of these forms allows for greater efficiencies, we
remain focused on our client's individual needs.
Living
Trusts
Living trusts (also known as revocable trusts) have become an important
planning tool for many people. The Practice Group has extensive experience
in the drafting, funding, and administration of living trusts. Members
of the Practice Group routinely advise the trustees of such trusts
regarding administrative matters during the lifetime of the person
creating the trust and after the death of the person creating the
trust in connection with the continuation or distribution of the trust.
Probate
Administration of Estate
The Practice Group offers all legal and administrative services associated
with probate of estates. These services include: preparation of pleadings
for appointment of personal representatives; inventory of assets and
liabilities; thorough review and analysis of possible income and estate
tax planning options; preparation of necessary accountings; preparation
of required income and death tax returns; transfer of assets in estate
distribution and closing the probate administration. If special legal
issues arise, the depth of our experience enables us to effectively
advise clients or their representatives. To reduce fees to our clients
and offer efficient service, we utilize experienced legal assistants
who handle routine portions of the administration process under attorney
supervision.
Lifetime
Estate Planning
Our Practice Group seeks to address the client's long term objectives
and circumstances when involved in lifetime estate planning. We have
extensive experience in the analysis, selection and implementation
of planning tools such as living trusts mentioned above; irrevocable
gift trusts; generation-skipping, life insurance, and grantor-retained
income trusts; direct gift programs; and education or care funds for
children, grandchildren and incapacitated family members. Our experience
also extends to structuring the transfer of a family business from
both tax and nontax perspectives. We work closely with Davis Wright
Tremaine's Employee Benefits Practice Group when planning for payment
of retirement benefits, preparation of deferred compensation arrangements
and gift and estate tax planning related to retirement benefits.
Personal
Planning and Guardianship
An individual's estate plan often calls for more than a traditional
will or trust to distribute the estate. We have expertise in related
personal planning areas, some of which are described below. The Practice
Group frequently advises its clients on the need and use of durable
powers of attorney, powers of attorney for health care and health
care directives (also known as living wills), and can prepare all
necessary documentation. When an individual's situation requires a
formal court guardianship or conservatorship, we counsel the appropriate
parties on the legal issues involved. Our attorneys prepare documentation
relating to the commencement, as well as other matters relating to
the ongoing administration and termination of the guardianship or
conservatorship. Our attorneys also advise guardians and conservators
concerning their powers and responsibilities in administering the
guardianship or conservatorship. Further, marital property rights
often affect estate planning. Our Practice Group has developed comprehensive
experience in the negotiation and preparation of premarital and post-marital
property agreements to identify separate and community property and
provide for rights of each spouse upon death or divorce.
Charitable
Plans, Charitable and Deferred Giving
Many of the firm's clients have long-standing charitable giving programs
that involve the utilization of sophisticated deferred giving vehicles.
Our in-depth experience with charitable lead trusts, private foundations,
and charitable remainder trusts has made it possible to provide our
clients with outstanding legal advice and service in this area. Practice
Group members have also been involved in the formation of pooled income
funds for charities.
Tax-Exempt
Organizations
The Trusts and Estate Practice Group teams with the Tax-Exempt Organizations
(TEO) Group to provide comprehensive advise concerning tax-exempt
organizations and charitable giving. The TEO Group brings uniquely
in-depth knowledge in the areas of federal and state tax, and nonprofit
corporate and trust law. Services include creating donor-advised funds,
supporting organizations, charitable remainder trusts and private
foundations, as well as private foundation management and compliance,
venture philanthropy and cross-border giving.
Estate
and Trust Litigation
The Practice Group, in connection with the firm's Litigation Department,
has experience representing clients in all forms of litigation affecting
estates. Charitable and noncharitable clients have been served in
matters involving will and trust contests, guardian and conservatorship
conflicts, will interpretation proceedings and other matters. The
Practice Group participates in a number of other types of contested
matters such as creditor's rights, state and federal tax audits and
appeals of estate and trust issues.
Business
Structure
Our attorneys address the client's entire situation, including business
relationships. This involves business structure; reorganization, division
or consolidation of existing entities and operating, formation of
new entities, and assisting with the transition of business ownership
and control. Preservation of the business in the face of potentially
crippling tax costs or destructive internal disputes is a major focus
of every Davis Wright Tremaine estate planning lawyer.
Fiduciary
Representation
The firm has developed considerable experience in trust law and the
representation of professional and individual fiduciaries. Our legal
service as general counsel to a major bank helped us build our experience
by working closely with the bank's trust department. Davis Wright
Tremaine has represented nearly all corporate trust departments in
Washington state for trust or estate litigation and, in Oregon, has
represented all nationally chartered corporate fiduciaries and most
of the state chartered corporate institutions with trust powers. The
services provided embrace a wide variety of matters, including tax
return preparation, preparation of accountings, advice regarding fiduciary
obligations and other matters.
Environmental
Risk
Federal and state laws impose liability on property owners for contamination
cleanup costs, regardless of fault. Trustees and other fiduciaries
frequently need to take steps to identify and manage environmental
risk before accepting the trust. The Environmental Law Practice Group
can oversee the assessment process and to help minimize the potential
for liability.
Other
Services
Our Practice Group offers a variety of services to our clients. Some
of our attorneys serve in significant fiduciary capacities as executors
and trustees. To assist with these responsibilities, we have established
a trust accounting section. We also provide our clients with computer-assisted
fiduciary accounting. In the area of probate estates, legal assistants
work with our attorneys on the day-to-day administration.
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