OUR LEGAL SERVICES
O'Neill & Neylon is a law firm established in 1979 by partners Charles T. O'Neill and Mary Ellen Neylon. The firm has a practice concentration in estate and gift tax planning for high net worth individuals and families and trust and estate administration.Please click on each service contained within the circle below for a link to its respective description.
FOUNDATION ESTATE PLANNING
During the estate planning process, we develop a comprehensive understanding of our client's personal, family, and financial situation. Based upon our understanding of the client's needs and objectives, we identify appropriate estate planning strategies designed to minimize estate taxes in order to maximize the estate passing to the beneficiaries over multiple generations. Our initial focus for most of our clients is on ensuring that their Foundation Estate Plan, which includes wills, revocable trusts, durable powers of attorney, and health care proxies, is in order. Thereafter, we monitor and revise the Foundation Estate Plan as required to reflect changes in the family's situation and in the tax laws.[ top ]
FAMILY GIFT PLANNING
A cornerstone of our strategic estate planning process for most of our clients is the development and implementation of an ongoing Family Gifting Program designed to take advantage of all available gift tax exemptions and exclusions. In addition to maximizing the use of annual exclusion gifts and direct payment of tuition and medical expenses for family members, these Family Gifting Programs often include the use of tactics such as Qualified Personal Residence Trusts (QPRTs), Grantor Retained Annuity Trusts (GRATs), and Multiple Generation Trusts (MGTs) designed to shift future appreciation outside of the client's taxable estate.[ top ]
FIDUCIARY SERVICES: TRUST AND ESTATE ADMINISTRATION
In representing the trustee of a trust or the executor of an estate, we oversee the administration process, prepare and file the necessary probate court documents and estate and income tax returns. We advise the trustee or executor with respect to tax elections, timing of distributions from the trust or estate, trust and estate accounting, and other intricacies of the administration process.We also serve as trustee or executor for many of our clients and their families, often in concert with a member of our client's family who serves as co-trustee or co-executor.
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RETIREMENT PLANNING
Retirement planning is an integral part of our tax and estate planning services. We provide retirement asset sufficiency analysis for our clients and develop financial planning and investment strategies designed to fit their objectives. We advise clients with respect to proper beneficiary designations and analyze their retirement plan distribution options.[ top ]
CHARITABLE GIFT PLANNING
Charitable gift planning is important to many of our clients who wish to share their good fortune with charitable organizations in the most tax effective manner. We identify charitable planning strategies designed to accomplish each client's goals in this area through the use of such tactics as Charitable Lead Trusts, Charitable Remainder Trusts, and Private Foundations.[ top ]
PLANNING WITH LIFE INSURANCE
In many situations, life insurance can provide a client's estate with the necessary liquidity to pay estate taxes without requiring the liquidation of estate assets at a "fire sale" price. Life insurance can also help to balance the division of assets among the client's family. Key components of the insurance planning we provide include: ensuring that the life insurance product is the most appropriate for the client's needs as well as ensuring that the life insurance proceeds are protected from estate taxes in a properly structured insurance trust.[ Our Wealth Management Services ]