Karen Yates

LeClair Ryan

Karen focuses her practice on wealth management. She advises individuals, families and family offices on wealth transfer tax planning, business succession planning, wealth preservation and charitable planning. As part of the wealth planning process, Karen regularly advises on income tax planning for individuals, estates, trusts and business entities. She is also experienced in estate and trust administration and probate. 

Additionally, a significant portion of Karen’s practice involves restructuring trusts to increase efficiency, address changed circumstances and better suit the needs of the families they benefit.

Better Not Pout – Like it or Not, U.S. Citizens Owe U.S. Taxes 1
One way to avoid lots of U.S. tax is to minimize ties to the United States – and the biggest tie of all is U.S. citizenship or residency.
IRS Blesses Decanting?
In a recent private letter ruling, the Internal Revenue Service concluded that transfer of assets from a generation-skipping transfer (GST) tax grandfathered trust into a second trust accomplished by exercise of a limited power of appointment isn’t a constructive addition to either trust and won’t cause future distributions from the receiving trust to be subject to GST tax.
Disregarded But Not Forgotten 
Is the transfer of an interest in a single-member limited liability company (LLC) a disregarded entity valued as a transfer of a proportionate share of
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