Estate Planning Attorneys Managing And Transferring Substantial Wealth
High net worth individuals face difficult decisions related to taxes, trusts and the protection of family assets when dealing with managing and transferring substantial wealth. Working with a skilled estate planning attorney is essential to develop strategies that preserve wealth and help ensure assets are distributed according to your wishes.
At Wheatley Pritchard & Associates PLLC, we bring years of experience in handling complex estate planning matters across Manhattan and the greater New York City metro area. Our lawyers uphold the highest ethical standards as active members of the New York State Trust & Planning Committee.
Estate Tax Minimization Strategies In New York
New York estate tax rules differ from federal exemptions, making careful planning essential for high net worth families.
One common approach involves annual gifting, which allows individuals to transfer assets gradually to heirs without exceeding exemption limits. Strategically gifting during your lifetime can lower the overall value of your taxable estate, helping to preserve more wealth for future generations.
We also assist with other estate tax minimization techniques, including leveraging trusts and other legal structures to shield assets from unnecessary taxation.
Preserving Wealth Through Trusts
We recommend advanced planning tools to preserve family wealth, including:
- Irrevocable life insurance trusts (ILITs) to protect life insurance proceeds from estate taxes
- Qualified personal residence trusts (QPRTs) for real estate assets
- Grantor retained annuity trusts (GRATs) to transfer appreciating assets efficiently
- Family limited partnerships (FLPs)/family limited liability companies (FLLCs) for multi-generational asset management
- Spousal lifetime access trusts (SLATs) for flexible wealth transfer
- Dynasty trusts to secure wealth for multiple generations
These structures allow families in the New York City Metro Area to preserve and grow wealth strategically.
Planning For Unique Assets And Charitable Giving
High-value art, collectibles, real estate and digital assets require specialized estate planning. Our attorneys help structure ownership and transfer strategies to protect these assets while complying with New York tax laws.
In addition, charitable giving and philanthropic planning can provide meaningful ways to support causes you care about while reducing estate tax liabilities. We design strategies that align with your family’s financial goals and charitable intentions, helping ensure your wealth benefits your heirs and the organizations you value.
Need Skilled Guidance For Significant Assets? Contact Us.
For clients in Manhattan, Queens, Brooklyn, Bronx and the greater New York City area needing help with large estates, Wheatley Pritchard & Associates PLLC can help secure your family’s future. Call 347-815-1219 for a free consultation, or reach out online.