Few areas of the law have undergone more change in recent years than the tax laws: estate tax, gift tax, income tax, and the generation-skipping transfer tax. John D. Wright, one of our founders, was a pioneer in estate and tax planning in Baltimore. Wright, Constable & Skeen has continued an extensive practice in those areas throughout its history.
We begin the estate planning process with a careful analysis of the client´s holdings, their estimated value, and whether they are held individually or in joint names. Business interests, life insurance, and employee benefits are examined. Our focus is on understanding our client’s estate planning goals and implementing them in the most tax-efficient manner. We do not believe that tax considerations should be the controlling factor in estate planning, but we are prepared to guide our clients to solutions which are right for them personally and which use all possible tax-savings techniques.
From simple wills for people of modest means to sophisticated estate planning, we have used planning devices such as aggressive gift programs to family members, revocable (living) trusts, testamentary trusts, life insurance trusts, charitable gifts of various kinds and personal residence trusts.
Estate planning also includes planning for possible future disability. In counseling our clients, we recommend that consideration be given to durable powers of attorney for financial matters, and advance medical directives for health care.