Tom Whitney, Kristin Abati, Charles Cheever, Brian Monnich, Michael Fay, John Cornish, Nan Giner, Bill Lowell, Jennifer Snyder
We work closely with our registered investment advisor subsidiary Choate Investment Advisors to offer clients complete family office services. Click here to learn more.
- togglePatrick Lavoie Joins ChoateTax Manager
Patrick Lavoie, who has joined the firm as a Tax Manager, will oversee tax advisory services for the firm’s Wealth Management clients.
Choate attorneys developed diverse funding strategies – including trusts and 529 plan accounts – to allow a grandparent to cover the college education costs of 17 grandchildren.
Choate attorneys developed the ownership structure for an extended family that owns a 500-acre island off the coast of the Southern United States, allowing for common ownership and coordinated decision-making.
Choate attorneys helped a family sell $20 million of commercial real estate to trusts established for younger generations of the family, avoiding capital gains taxes and saving large amounts of future estate and gift taxes.
Choate attorneys advised a client to fund a special type of trust called a grantor retained annuity trust, or “GRAT,” with privately-held stock that later went public at a highly appreciated price. The GRAT structure results in more than $30 million passing to the client’s descendants, completely tax-free.
Sophisticated tax, trust and estate planning and administration, integrated with world-class investment management through registered investment advisory subsidiary, Choate Investment Advisors.
Experience & Stability
For over 100 years, serving as trustees and managing assets for high net worth individuals and families.
Prominent Trusts & Estates Group
Expert trusts and estates lawyers representing generations of families with sensitivity, creativity and discretion.
Sophisticated Investment Advice Through Registered Investment Advisory Subsidiary
Choate Investment Advisors has approximately $3 billion under investment management:
- Over 700% growth since 1990
- Best of both worlds: institutional-quality investment philosophy and personal service strategies tailored to needs of each individual and family
- Dedicated internal research group of industry and investment analysts, most CFA certified
Wealth Management Services with a Difference
Independent wealth management services:
- Experienced, accessible practicing lawyer-trustee
- Exceptional continuity and longevity of service team
- Independence/absence of conflicts: Choate Investment Advisors does not sell its own proprietary products
- Choate Investment Advisors is focused on long-term investment strategy: no commission or other incentive to trade
- Customized investment model
- Choate Investment Advisors is focused on long-term growth: not driven by quarterly results
- Investment and fiduciary expertise integrated with financial, tax and estate planning: all offered under the same roof
Breadth & Expertise
Team of over 70 persons including lawyers, investment professionals, tax preparers, trust and estate administrators and other support staff.
Nationally recognized as one of the leading practices of its kind by US News & World Report.
Taking Care of Families
Focused on each family’s unique needs:
- Arrange estate plans to pass property at lowest possible tax and probate cost
- Manage financial affairs with minimal probate court involvement
- Assure privacy as to amount, nature and disposition of assets
- Fund children’s and grandchildren’s education
- Carry out charitable wishes in financially advantageous ways
- Coordinate investments with pension plan, IRA, Keogh and Social Security
- Manage financial affairs including dependent parent care when incapacitated
Full Range of Personal Financial Services
Extensive and integrated services for personal tax and financial needs, including:
- Individual income planning and tax return preparation
- Bill paying
- Arranging short-term bank loans
- Wealth forecasting
- Developing budgets
Sophisticated Estate Planning Techniques
Experts in implementing sophisticated tax-planning techniques to save tax dollars and achieve personal goals, including:
- Grantor Retained Annuity Trust (GRAT) to transfer future appreciation in value of assets to family members or trusts with little or no gift tax
- Income Tax Advantaged Grantor Trust to “freeze” estate value and transfer future appreciation in value of assets to future generations with little or no gift tax, while allowing grantor to continue to pay income tax on trust earnings and gains
- Family Limited Partnerships to pool wealth and pass partnership interests to future generations at reduced tax cost
- Qualified Personal Resident Trust (QPRT) to transfer residence to future generations at significantly reduced gift tax cost
- Insurance Trust to exempt life insurance proceeds from estate taxation
- 529 Plans to save tax-free for college expenses of plan beneficiaries
- 2503(c) Trust (Minority Trust) for children under 21
- UTMA or UGMA Accounts Uniform Transfers to Minors Act and Uniform Gifts to Minors Act accounts for children under 21
Specialized International Tax Expertise
Specialized experience advising US and non-US clients with respect to international tax and estate planning involving multinational considerations, including cross-border issues related to the UK, Switzerland, Israel, Canada, Bermuda and the Cayman Islands, among other countries.
Highly experienced integrated team, including business and tax lawyers, working closely with family-owned businesses, and expert in identifying and meeting their unique tax and estate planning needs.
Complete Charitable Planning
Complete charitable planning to fulfill personal philanthropic goals while saving taxes, including:
- Private foundations
- Donor-advised funds
- Conservation easements
- Charitable remainder trusts
- Charitable lead trusts