Biography for Lawrence J. Peck, Esq.

With over 35 years of experience, Mr. Peck provides the highest level of representation in the following areas:

In addition to experience in the traditional areas of will and trust drafting and estate administration, Mr. Peck excels in the use of the latest techniques to implement effective plans for business succession while minimizing taxes to the greatest extent possible.

Some of Mr. Peck’s estate planning tools are the revocable or “living” trust to avoid probate and provide for continuity of management of assets; the irrevocable life insurance trust to reduce the size of the insured’s estate; the qualified personal residence trust to transfer a personal residence to heirs at reduced gift tax rates; the family limited partnership or family limited liability company to reduce the size of the estate; the grantor retained annuity trust or the sale to an income tax defective trust to transfer ownership of closely held businesses or other appreciating assets to younger generations at reduced gift tax rates; the spousal lifetime access trust to transfer wealth outside of the estate while providing the donor with indirect access to trust assets; and the qualified domestic trust for non-citizen spouses.

Mr. Peck creates dynasty trusts for individuals who want to establish a truly perpetual, tax-favored source of income and capital for future generations of family members. These advantages are especially unique under the laws of certain states.

For clients who wish to advance their philanthropic activities, Mr. Peck assists in creating tax qualified charitable trusts and private foundations.

Mr. Peck represents and advises executors of substantial estates, including handling will probate and will contests; preparing the federal and state estate tax returns; representing the estate in tax audits; preparing the executor’s accounting and attendant releases; and distributing the estate assets to beneficiaries.

In addition to estate tax minimization, Mr. Peck is well versed in the techniques available to preserve his clients’ wealth from the risks of divorce, litigation and future creditors.

As clients expand their investments into the global arena, multi-jurisdictional planning takes on greater importance. Mr. Peck advises and establishes trusts, foreign corporations and other appropriate structures for nonresident alien clients investing in the U.S. real estate market or stock market to avoid or minimize U.S. estate and income tax implications. Many foreign nationals purchase U.S. real estate for investment, personal use or for their children to use during college. Mr. Peck helps those individuals purchase real estate in an income, gift and estate tax-efficient manner, based on the property’s expected use.

Mr. Peck establishes trusts and other structures for nonresident alien clients to escape forced heirship provisions in their home countries, to defeat creditors, to protect assets in the event of unforseen circumstances arising in the jurisdiction of their domicile, to obtain favorable tax benefits, to provide for the testamentary disposition of property, to escape exchange controls, to provide an umbrella for investment in multiple jurisdictions and to invest in anonymity.

Mr. Peck also advises multi-national families in connection with tax, trust and succession planning matters that have both U.S. and non-U.S. aspects.