Depending on each client's requirements and desires, we can limit our counsel to a single issue, or provide advice on a broad range of personal or family goals and how best to achieve them.

Generating Sensible Estate Planning Solutions
Foley has extensive experience developing sophisticated estate plans for wealthy individuals and families. These plans are designed to reduce potential tax burdens within the context of the client's overall estate-planning objectives. We use sophisticated planning vehicles tailored to each client, including specialized trusts, family-limited partnerships, limited liability companies, and private charitable foundations.

With public companies, employee benefits often are at the core of an executive's wealth. We frequently work with these executives on estate planning for stock option plans, employee stock ownership plans (ESOPs), retirement benefits, compensation plans, restricted stock and fringe benefits, and compliance with relevant securities laws. We work closely with our Employee Benefits Practice attorneys throughout the planning process.

With private and closely held companies, thoughtful, creative estate planning is required to achieve the client's objectives. We counsel owners of these busi­nesses on alternatives for transferring ownership and control to the next generation, and in solving liquidity concerns associated with estate taxes.

As the tax law affecting closely held businesses changes, we continually develop new techniques for the smooth transfer of management and ownership. Our lawyers have recapitalized corporations and established partnerships that freeze the values of the older generations' business interests for estate-tax purposes, thereby insulating substantial asset value from federal and state death taxes.

Providing Qualified Estate and Trust Management
The Estates & Trusts Practice represents numerous multimillion-dollar estates and trusts, many of which involve portfolios with such diverse and complex assets as art collections, closely held business interests, real estate held for development, mineral interests, patents, and copyrights. We assist in the administration and management of these estates and trusts, and counsel the beneficiaries in regard to tax-saving techniques. Foley partners also can serve as executors or trustees when appropriate.

In addition, clients who rely on Foley attorneys to serve as trustees or successor trustees have access to FOLEY PrivateOffice^®, the firm's exclusive trust administration services. Through a family office setting, FOLEY PrivateOffice administers several billion dollars in client assets and caters to the needs of approximately 1,000 family members.

Our services also include preparation of estate and fiduciary income tax returns, maintenance of computerized trust accounting systems, and representation of fiduciaries before the Internal Revenue Service.