Legal Elite 2023 Taxes/ Estates/ Trusts Q&A

Title: Shareholder

Other legal specialties: Estate planning, estate and trust administration, and business matters

Education: Bachelor’s degree, University of Virginia; law degree, University of California,
Los Angeles

Family: Husband, Neal; two children, Tucker (age 27, student at Regent University School of Law) and Noah (age 25, student at Dartmouth College, Geisel School of Medicine); and rescue pup, Belle

Career mentors: Judge Glen Huff and Judge Glenn Croshaw

Fan of: Family and friends, college football and basketball, state and national parks, time outdoors, anything U.Va.

Most recent book read: “Demon Copperhead,” by Barbara Kingsolver

Favorite vacation spot: Spain

What are some changes ahead in 2024 and beyond for estate and trusts planning clients should look out for? With the estate and gift tax exemption expected to be drastically reduced in 2026, clients should consider planning options now to reduce estate and gift tax liability while maintaining liquidity. In addition to utilizing the high estate tax exemptions fully, clients should ensure that powers of attorney are in place in the event of incapacity, and update their plans as needed to reflect changes in their family, marital status or assets. Clients also need to plan and provide for the high and rising cost of long-term care.

What legal services are most in demand now from your clients? Many clients are concerned about upcoming tax law changes and wish to update or expand their estate plans. Additionally, many of our clients are seeking our help in planning to “make things simple” for their families and avoid probate as much as possible. We’re also seeing a lot of corporate clients who are growing or selling their businesses, or seeking assistance in transitioning their businesses to the next generation.

Check out the rest of the 2023 Legal Elite.