Cummings & Lockwood

Estate Planning for Corporate Executives

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Cummings & Lockwood’s private clients attorneys understand that corporate executives have complex estate planning needs which change and evolve over the course of their careers and into retirement and which require in-depth review and analysis and sophisticated solutions.  

Like many clients, corporate executives often structure their financial planning to allow for the maximum lifetime use of their assets, while at the same time developing an estate plan that maximizes and protects the value and ultimate distribution of those assets to their spouse, children and other chosen beneficiaries.  

Unlike other clients, corporate executives often encounter challenges that are unique to them because their assets are more likely to in large part consist of concentrated in stock, stock options and restricted stock.  This lack of liquidity and concentration of investments in employer’s stock (particularly if the employer is a closely-held corporation) often gives rise to special estate planning and estate administration issues for executives as well as for their beneficiaries and fiduciaries.

Other issues that need to be addressed in planning for a corporate executive’s estate typically include substantial interests in qualified retirement plans, corporate life insurance plans, and split-dollar arrangements.  In closely-held companies, succession planning, key man insurance and buy-sell agreements may need to be structured to provide a ready market for the executive’s shares upon his or her death and to ensure long term viability of the business.

Whether working with a corporate executive at the beginning, midpoint or pinnacle of his or her career or one who is preparing for retirement or becoming more actively involved in charitable endeavors, Cummings & Lockwood’s trusts and estates attorneys have the knowledge and experience to help design an appropriate estate plan. 
 

Name Title Practice Group Office Phone Email vCard
Laura Weintraub Beck
Laura Weintraub Beck

Vice Chair of Cummings & Lockwood and Chairman, Private Clients Group

lbeck@cl-law.com

T203.863.6590

F203.862.2610

Vice Chair of Cummings & Lockwood and Chairman, Private Clients Group Private Clients Group Greenwich, CT 203.863.6590 Download vCard
Principal Private Clients Group West Hartford, CT 860.313.4930 Download vCard
Principal Private Clients Group West Hartford, CT 860.313.4936 Download vCard
Principal Private Clients Group Bonita Springs, FL 239.390.8062 Download vCard
Principal Private Clients Group Stamford, CT 203.351.4298 Download vCard
Principal Private Clients Group Greenwich, CT 203.863.6511 Download vCard
Principal Private Clients Group Greenwich, CT 203.863.6503 Download vCard
Principal Private Clients Group Stamford, CT 203.351.4317 Download vCard
Principal Private Clients Group Naples, FL 239.649.3178 Download vCard
Counsel Private Clients Group Bonita Springs, FL 239.390.8060 Download vCard
Principal Private Clients Group Greenwich, CT 203.863.6504 Download vCard
Principal Private Clients Group West Hartford, CT 860.313.4919 Download vCard
Principal Private Clients Group West Hartford, CT 860.313.4933 Download vCard
Principal Private Clients Group Stamford, CT 203.351.4308 Download vCard
Counsel Private Clients Group Stamford, CT 203.351.4692 Download vCard

Cummings & Lockwood’s private clients attorneys understand that corporate executives have complex estate planning needs which change and evolve over the course of their careers and into retirement and which require in-depth review and analysis and sophisticated solutions.  

Like many clients, corporate executives often structure their financial planning to allow for the maximum lifetime use of their assets, while at the same time developing an estate plan that maximizes and protects the value and ultimate distribution of those assets to their spouse, children and other chosen beneficiaries.  

Unlike other clients, corporate executives often encounter challenges that are unique to them because their assets are more likely to in large part consist of concentrated in stock, stock options and restricted stock.  This lack of liquidity and concentration of investments in employer’s stock (particularly if the employer is a closely-held corporation) often gives rise to special estate planning and estate administration issues for executives as well as for their beneficiaries and fiduciaries.

Other issues that need to be addressed in planning for a corporate executive’s estate typically include substantial interests in qualified retirement plans, corporate life insurance plans, and split-dollar arrangements.  In closely-held companies, succession planning, key man insurance and buy-sell agreements may need to be structured to provide a ready market for the executive’s shares upon his or her death and to ensure long term viability of the business.

Whether working with a corporate executive at the beginning, midpoint or pinnacle of his or her career or one who is preparing for retirement or becoming more actively involved in charitable endeavors, Cummings & Lockwood’s trusts and estates attorneys have the knowledge and experience to help design an appropriate estate plan.