Abbey Magnuson is an associate with Foley & Lardner LLP and a member of the firm’s Estates & Trusts Practice. She has experience working with high net worth individuals and families in estate planning matters. Abbey concentrates her practice in estate and income tax planning, trust and estate administration, and other wealth planning issues, including:
• Developing comprehensive estate plans to make use of available estate, gift and generation-skipping transfer (GST) tax exemptions.
• Advising trustees and personal representatives on management and administrative matters to fulfill fiduciary responsibilities.
• Tax planning for estates, trusts and beneficiaries.
• Coordinating and working with family offices, including facilitating a CEO search for a multi-generational family office.
Abbey also has experience in overall charitable planning. She works with both individuals and organizations in all aspects of charitable giving, including:
• Planning for special purpose charitable vehicles, including charitable remainder trusts (CRTs) and charitable lead trusts (CLTs).
• Administering ongoing operations of a $60 million private foundation, including grant-making, grant agreements, distribution calculations, self-dealing and conflicts of interest, investment and cash management, succession planning, and review of annual Form 990-PF.
• Advising trustees of a $100 million single purpose, donor-created charitable trust, including review of distribution and beneficiary communication requirements to maintain special “supporting organization” status and review of trust accounting and requirements of trust beneficiaries.
• Long-term planning for private foundations and implementation of strategic goals.
• Preparation of formation documents, including bylaws and conflict of interest policies.
Abbey graduated first in her class from Marquette University Law School (J.D., summa cum laude, 2016), where she was a comment editor of the Marquette Law Review. She obtained her undergraduate degree from Marquette University studying in political science with a minor in economics (B.A., magna cum laud, 2013).
• Presenter, “Introduction to Terms and Concepts,” 18th Annual Planned Giving Workshop Series, Milwaukee, WI (April 2019)
• Presenter, “Charitable Gift Annuities, Gifts of Life Insurance & Gifts of Special Assets,” 17th Annual Planned Giving Workshop Series, Milwaukee, WI (May 2018)
Abbey is admitted to practice in Wisconsin. She is the co-chair of the Milwaukee Association for Women Lawyers Estate Planning Discussion Group.
Abbey was a participant in the 2018 -2019 Young Professional Adviser Council (YPA) with the Greater Milwaukee Foundation.