Molly leads Troutman Sanders LLP's trusts and estates practice in the Northern Virginia/DC region. Her clients include executives of venture capital firms; owners and executives of businesses in Northern Virginia, suburban Maryland, and the District of Columbia; real estate developers; and several generational levels of high net worth families. In addition to covering all basic estate planning for clients, Molly assists clients with business succession planning; dynasty trusts; estate planning with carried interests in venture capital funds; charitable planning; international estate planning; and the creation of trusts, LLCs, and other structures to protect families from taxes and creditors and create meaningful legacies. Molly pays particular attention to the goals of her clients, and her clients appreciate her prompt response to their needs.
Molly also guides clients through the estate administration process. She understands the complex tax and procedural issues, as well as the emotional issues surrounding the death of a family member.
In addition, Molly plays the role of family advisor on many disparate issues arising in a family's business. She can ensure that an attorney with the proper experience will handle any matter for her clients.
Representative Experience
Develop and implement strategy to pass closely held business, worth more than $100 million, to trusts for a family over a period of years to substantially minimize estate tax.
Draft grantor retained annuity trusts for stock of executive's publicly traded company and obtain appropriate securities advice for client.
Work with venture capitalists to transfer carried interests to trusts for the benefit of family members.
Structure sale of private interests to grantor trusts in exchange for intra-family loans.
Draft private foundations and charitable lead annuity trusts for clients in short time frame to ensure end-of-year income tax benefits.
Draft and file private letter ruling request related to client's S corporation status.
Develop estate plans for U.S. citizens living in China, the United Kingdom, Canada, Mexico, Germany, and Italy, as well as for non-U.S. citizens (both U.S. residents and non-residents).
Deathbed planning with a client designed to reduce the estate tax value of his assets and obtain income tax benefits that could be lost at death.
Publications
Served as a tax advisor for the book Sell Your Business Your Way, written by Rick Rickertsen and published by AMACOM in 2006.
Public Service
Former Chair of the Board and Current Pro Bono General Counsel, College Bound, Inc., Washington, DC
Other Distinctions
Named to Virginia Business magazine's Legal Elite for Taxes/Estates/Trusts Law (2005-2007).