Cummings & Lockwood LLC

Cummings & Lockwood’s private clients attorneys understand that corporate executives have complex estate planning needs which change and evolve over the course of their careers and into retirement and which require in-depth review and analysis and sophisticated solutions.

Like many clients, corporate executives often structure their financial planning to allow for the maximum lifetime use of their assets, while at the same time developing an estate plan that maximizes and protects the value and ultimate distribution of those assets to their spouse, children and other chosen beneficiaries.

Unlike other clients, corporate executives often encounter challenges that are unique to them because their assets are more likely, in large part, to consist of concentrated in stock, stock options and restricted stock. This lack of liquidity and concentration of investments in employer’s stock (particularly if the employer is a closely-held corporation) often gives rise to special estate planning and estate administration issues for executives as well as for their beneficiaries and fiduciaries.

Other issues that need to be addressed in planning for a corporate executive’s estate typically include substantial interests in qualified retirement plans, corporate life insurance plans, and split-dollar arrangements. In closely held companies, succession planning, key man insurance and buy-sell agreements may need to be structured to provide a ready market for the executive’s shares upon his or her death and to ensure long term viability of the business.

Whether working with a corporate executive at the beginning, midpoint or pinnacle of his or her career, or one who is preparing for retirement or becoming more actively involved in charitable endeavors, Cummings & Lockwood’s trusts and estates attorneys have the knowledge and experience to help design an appropriate estate plan.

Cummings & Lockwood - The Choice for sophisticated legal counsel.

Equal Opportunity Commitment

Cummings & Lockwood is among the group of Connecticut law firms which have committed to increasing the number of minority lawyers successfully practicing at our firm and at the same time increasing opportunities for growth and development of those lawyers. The Statement of Connecticut Law Firms on Minority Hiring and Retention is available at your placement office for further information.

Cummings & Lockwood is an Equal Opportunity/Affirmative Action employer.

Statement of Affirmative Action

Cummings & Lockwood is committed to the principals of equal employment opportunity for all job applicants and current employees. The firm bases all employment decisions upon the qualifications and abilities of each individual without regard to race, color, religious creed, age, marital status, national origin, ancestry, sex, sexual orientation, status as a veteran of the Vietnam era or as a disabled veteran, learning disability or present or past history of mental disorder, mental retardation or physical disability, including but not limited to, blindness.

To implement this policy, the firm will continue to:

•  Recruit, hire, train and promote persons in all job classifications without regard to race, color, religious creed, age, marital status, national origin, ancestry, sex, sexual orientation, status as a veteran of the Vietnam era or as a disabled veteran, learning disability or present or past history of mental disorder, mental retardation or physical disability, including but not limited to, blindness.
• Base employment decisions only on job-related criteria and the legal needs of our clients so as to further the principle of equal employment opportunity.
• Ensure that promotion decisions are in accord with principles of equal employment opportunity by imposing only valid job-related requirements for promotion opportunities.
• Ensure that all personnel actions (including, but not limited to, compensation, benefits, transfers, layoffs, return from layoff, firm-sponsored training, education, tuition assistance, and social and recreational programs) are administered without regard to race, color, religious creed, age, marital status, national origin, ancestry, sex, sexual orientation, status as a veteran of the Vietnam era or as a disabled veteran, learning disability or present or past history of mental disorder, mental retardation or physical disability, including but not limited to, blindness.
  

• Recruit, hire, train and promote persons in all job classifications without regard to race, color, religious creed, age, marital status, national origin, ancestry, sex, sexual orientation, status as a veteran of the Vietnam era or as a disabled veteran, learning disability or present or past history of mental disorder, mental retardation or physical disability, including but not limited to, blindness.
  
   
• Base employment decisions only on job-related criteria and the legal needs of our clients so as to further the principle of equal employment opportunity.
  
   
• Ensure that promotion decisions are in accord with principles of equal employment opportunity by imposing only valid job-related requirements for promotion opportunities.
  
   
• Ensure that all personnel actions (including, but not limited to, compensation, benefits, transfers, layoffs, return from layoff, firm-sponsored training, education, tuition assistance, and social and recreational programs) are administered without regard to race, color, religious creed, age, marital status, national origin, ancestry, sex, sexual orientation, status as a veteran of the Vietnam era or as a disabled veteran, learning disability or present or past history of mental disorder, mental retardation or physical disability, including but not limited to, blindness.