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Marcum LLP
Marcum LLP
Tax & Business

Family Wealth Services - Trusts & Estates

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The estate and gift tax laws are highly complex and specialized. When families and individuals plan for their future, they need to know that their service providers are experienced, highly-skilled and technically superior. In response to this need, Marcum has assembled a team of specialists to deal with the many intricacies of trust and estate work.

Our Trusts & Estates Group provides clients with a comprehensive array of Trust and Estate planning and administration services. We understand that, when it comes to your family's future, the stakes are high and we address all client dealings with the gravity and discretion they deserve.

Contact one of Marcum's regional representatives.


Estate Planning

A well-conceived estate plan is the only way to protect your assets from substantial estate, income and excise taxes. That's why many individuals and family-owned businesses that rely on Marcum for their individual, corporate and partnership income tax work have also turned to us for estate planning and family business succession planning.

Marcum's Trusts and Estates Group offers planning services to help you develop a strategic plan that will preserve your assets for the financial security of your family's future. The accountants and attorneys employed in Marcum's Trusts and Estates Group can help you understand and weigh the options available, so that you can make the best decisions for the future of your family and your business.

  • Development and design of estate plans to reduce estate and/or gift tax and maximize family wealth.
  • Development of family gift giving programs and preparation of applicable federal and state gift tax returns.
  • Creation and implementation of business succession plans.
  • Creation of strategies for utilization of inter-vivos trusts in the estate planning process.
  • Design and implementation of charitable giving strategies to minimize estate, gift and income tax.
  • Planning for Individual Retirement Account (IRA) and qualified plan distributions to maximize family wealth and minimize taxes.
  • Preparation of business valuations to be utilized in effectuating lifetime gifts to minimize estate and gift tax.
  • Assisting clients in identifying long-term care needs and implementing solutions.


Beyond the Numbers

Roundup of business and tax planning ideas

Trust and Estate Administration

The executor of an estate is charged with the often daunting task of administering that estate. Depending on the complexity of the property, how it is owned, the provisions of the decedent's will, and the applicable law, the executor has before him or her various complicated responsibilities that are often best carried out with the guidance and assistance of a knowledgeable advisor.

Marcum's Trusts and Estates Group addresses the needs of surviving family members and provides advice and representation on federal and state estate, gift and income tax issues that affect the estate or trust, its beneficiaries or fiduciaries.

  • Preparation of federal estate tax returns and applicable state inheritance/estate tax returns.
  • Preparation of judicial and non-judicial fiduciary accountings for trusts and estates.
  • Preparation of fiduciary income tax returns for trusts and estates, including tax planning to minimize income taxes.
  • Post-mortem planning, including use of disclaimers, redemption of shares of closely-held businesses, and allocation of generation-skipping transfer tax exemption.
  • Working with attorneys, executors and beneficiaries to minimize estate tax and income tax.
  • Assisting executors in navigating through the estate administration process.
  • Assisting beneficiaries in resolving family disputes regarding inherited or inheritable assets.
  • Valuation of closely-held business interests to minimize estate tax.
  • Preparation of Federal and State gift tax returns.
  • Preparation of Federal estate tax returns (Form 706) and applicable State inheritance/estate tax returns.
  • Preparation of Federal and State fiduciary income tax returns including income tax planning to minimize taxes.
  • Preparation of Federal and State Charitable Trust Information returns.
Related Trusts and Estates News

Forbes interviewed Tax Partner Janis Cowhey about the increased lifetime estate and gift tax exemption.


It’s official. For 2018, the estate and gift tax exemption is $5.6 million per individual, up from $5.49 million in 2017. That means an individual ....

Announcing Sponsors for the 2017 Marcum Women’s Forum featuring Chelsea Clinton


Nine top companies have signed on to date to sponsor the 2017 Marcum Women’s Forum in New York City, featuring Chelsea Clinton, Lisa Garcia, and ....

IRS and Treasury to Withdraw Proposed Regulations that Would Affect Discounts Applied to Transfers of Family-Owned Businesses


On October 2, 2017, The Trump Administration issued Executive Order 13789. Included in this Executive Order, the IRS and the Treasury establish that they will ....

Financial Advisor magazine spoke with Tax Partner John Mezzanotte about how to help clients save taxes on required minimum distributions from IRA accounts.


Once your client reaches age 70 1/2, he or she must take required minimum distributions (RMDs) annually from taxable IRA and 401(k) accounts.

The Long-Awaited Tax Proposal: The Unified Framework for Fixing our Broken Tax Code


On September 27, 2017, the Trump Administration and Republican leaders released a unified framework for tax reform that would make changes to both individual and ....

IRS Tax Relief for Hurricane Irma Victims


The IRS is providing help to the victims of Hurricane Irma. Special tax relief and assistance is available to taxpayers in the Presidential Disaster Areas. ....

CNBC spoke with Rorrie Gregorio, partner-in-charge of the Marcum Family Office practice, for an article about the financial challenges faced by “suddenly single” women recently divorced or widowed.


Becoming suddenly single can set your world in a tailspin, and a lack of financial planning is setting women in particular even further back.

South Florida Business Journal published an article by Partner David Appel about the importance of estate planning for Millennials.


Estate planning is not just for Boomers. It is an essential part of financial adulthood and is especially imperative for Millennials who have already amassed ....

CNBC.com interviewed Tax Partner Janis Cowhey about funding pre-school education for grandchildren.


Here's a way for boomers to share the wealth with their children and grandkids: Cover the cost of preschool and shake off gift taxes to ....

Applicability of Charitable Deductions for Estates and Trusts


Fiduciary entities, other than specific charitable entities such as charitable remainder trusts, charitable lead trusts, or private foundations, are allowed many of the same deductions ....

Tax Partner Robert Spielman wrote about state laws governing the ownership of engagement rings, for his Valentine’s Day column in City News.


February is often considered a month of love because Valentine's Day falls on the 14th.

IRS Issues Guidance for Tax Treatment of Estates of Same-Sex Married Couples


On January 18, 2017, the Internal Revenue Service ("IRS") published administrative guidance in Notice 2017-15, providing specific policy and procedures for retroactively changing the tax ....

New Jersey Business magazine interviewed Tax Supervisor Crystal Levy about wills and estates planning, for its annual Money Issue.


The aging population and changing inheritance laws are influencing the way Americans look at will and estate planning.

Private Wealth magazine interviewed Partner Carolyn Mazzenga for an article about how President-elect Donald Trump’s proposed tax plan will effect high income earners.


Whether or not you approve of Donald J. Trump as the next president of the United States, if you're a highincome earner who would like ....

CNBC quoted Trusts & Estates co-leader David First in a story about the proposed repeal of the estate tax.


Donald Trump rallied the working class during his campaign, but he also championed one benefit favoring mostly the super-rich: eliminating the federal estate tax.

State of New Jersey Passes Law that Completely Repeals the State Estate Tax by 2018


New Jersey Governor, Chris Christie, signed Assembly Bill No. 12 ("AB12") into law on October 14, 2016, repealing New Jersey's state estate tax effective January ....

Trusts & Estates Brochure



Select the region to view contacts.

Ronald  Finkelstein

Tax & Business
Melville, NY
David  First

Tax & Business
New York, NY

The Marcum 2016 Year-End Tax Guide continues our tradition of providing timely tax guidance for the upcoming year.




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