Private Wealth Planning

Counseling Families

Our Private Wealth lawyers understand that long-term relationships with families are built on trust and require a lawyer’s personal dedication, commitment, and sound judgment. The diversity and geographic distribution of BakerHostetler’s Private Wealth lawyers allows us to connect with families where they reside and do business.

Family Legacy Planning

A family’s legacy is built on tailored planning designed to serve multiple generations. We provide advice on planning with trusts and other entities to achieve tax efficient protection asset and management. Legacy planning often starts with gifting of assets and can involve a wide array of techniques and structures. Our lawyers are experienced in all types of gifting vehicles, which often combine trusts with partnerships, limited liability companies, and corporations. We coordinate a client’s lifetime gifting strategies with their estate planning documents to achieve continuity of management and tax savings over several generations.

Tax Experience

Each of our Private Wealth lawyers is a trained tax attorney. We rely on our keen tax understanding in structuring a family’s estate plan to maximize economic benefits for future generations. When it is necessary to deal directly with the Internal Revenue Service or state taxing authorities, our lawyers are experienced in taking the lead role in audits, appeals, and court proceedings. We look for opportunities to work with a client’s accountants and other advisers because we believe the best results are obtained through collaborative efforts.

Philanthropy

In many cases, family legacy planning involves the use of family-controlled charities. We understand the critical importance of philanthropy as a family objective and can arrange gifts that are most tax advantageous. We counsel families on how to use charitable entities to further their values and charitable interests.

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Counseling Businesses

Many of BakerHostetler’s largest and most successful clients are family-owned businesses. We understand the importance of carefully drawn corporate governing documents, including buy-sell agreements, transfer restrictions, and voting/non-voting stock, but more importantly we are attuned to the personal dynamics inherent in a family-owned business. Our clients value this combination of legal experience and practical, sensitive counsel.

Corporate Governance

One of our strengths is integrating a client’s business ownership with family legacy planning. We work with families and their other advisers to create corporate governance structures and procedures while adhering to family dynamics and objectives. In drafting long-term trusts, we often suggest the use of Family Business Advisers and/or Trust Protectors to vote company stock owned in trust. We understand the importance of providing special protections for a trustee if a trust owns a concentrated position in a family-owned business.

Succession Planning

The decision whether to transfer ownership and/or control of a family business to the next generation is one of the most important, but often most challenging, decisions facing a senior generation business owner. Our team has guided many companies through this process and often utilizes sophisticated techniques to achieve maximum tax benefits. Clients especially appreciate our quantitative analysis, which assists in choosing among the best approach available to transfer value.

Professionals

Name Title Office Email
Taylor Perodeau Bechel Associate Denver
Edward J. Beckwith Partner Washington, D.C.
Scott J. Bent Associate Columbus
Joseph P. Collins Associate Costa Mesa
William J. Culbertson Counsel Cleveland
Leah E. DeLancey Partner Costa Mesa
Jennifer L. Eschedor Counsel Cleveland
Christopher D. Fidler Partner Columbus
Robert R. Galloway Partner Cleveland
Theodore Z. Gelt Of Counsel Denver
Ellen E. Halfon Counsel Cleveland
Herbert W. Kalmbach Of Counsel Costa Mesa
Robert K. Lease Partner Cleveland
Gordon F. Litt Partner Columbus
Chad W. Makuch Associate Cleveland
George T. Mooradian Partner Costa Mesa
Lisa A. Roberts-Mamone Partner Cleveland
Kevin G. Robertson Partner Cleveland
Barry R. Robinson Partner Columbus
Anthony J. Scaletta Partner Orlando
Michelle M. St. Pierre Partner Denver
David L. Starbuck Partner Denver
Michael R. Stiff Partner Denver
Raymond L. Sutton Jr. Partner Denver
Ashley L. Thompson Associate Denver
Joseph F. Verciglio Partner Cleveland
Samantha M. White Counsel Denver
Alexander C. Yarbrough Associate Costa Mesa

Recognition

  • Chambers HNW: Private Wealth Law (2016)
    • Colorado: Band 1
    • Ohio: Band 1
    • USA: Recognized Practitioner
  • BTI Client Service 30: BakerHostetler advanced 19 positions to #9 (2016)
  • U.S. News - Best Lawyers “Best Law Firms” (2016)
    • Litigation - Trusts & Estates
      • Metro Columbus, Tier 1
      • Metro Denver, Tier 1
      • Metro Washington, D.C., Tier 2
    • Trusts & Estates Law
      • National Tier 1
        • "Law Firm of the Year" (2016)
      • Metro Cleveland, Tier 1
      • Metro Columbus, Tier 1
      • Metro Denver, Tier 1
      • Metro Washington, D.C., Tier 1
  • The Best Lawyers in America© (2016)
    • 3 lawyers named in Litigation - Trusts & Estates
    • 11 lawyers named in Trusts and Estates

Key Contacts

Blog

In The Blogs

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WealthDirector
Proposed Regulations Under IRC Section 2704 Seek to Eliminate Discounts on Transfers of Family Business Interests
September 23, 2016
On Aug. 2, 2016, the Treasury Department and the Internal Revenue Service released proposed regulations under Internal Revenue Code (Code) section 2704 (the “Proposed Regulations”). The Proposed Regulations, if finalized in their proposed...
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WealthDirector
The Donor Advised Fund Alternative to a Family Foundation
August 31, 2016
There are several gifting vehicles that provide donors and their families with the opportunity to participate in their philanthropy on an ongoing basis. Frequently, families will consider creating and funding a private family foundation...
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WealthDirector
IRS Simplifies Rules for Correcting Failed Rollover
August 25, 2016
On August 24, 2016 the IRS published Revenue Procedure 2016-47, which simplifies the steps for correcting a missed rollover from a qualified plan or IRA to another qualified plan or IRA. Amounts distributed from a qualified plan or IRA...
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WealthDirector
What do Prince, Michael Jackson, and Whitney Houston Have in Common?
July 12, 2016
Michael Jackson, Prince and Whitney Houston each revolutionized the music industry and impacted popular music for decades. We all appreciate how Michael Jackson moonwalked across the stage, Prince made it (purple) rain and Whitney Houston...
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WealthDirector
Governor Kasich Signs House Bill 229 to Create Ohio Family Trust Company Act
June 16, 2016
On June 14, 2016, Governor Kasich signed House Bill 229 into law. The bill, which was over two years in the making, allows an Ohio family to establish its own trust company to serve as trustee for its family trusts. The legislation...
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