Shipman & Goodwin LLP

  • Established in 1919
  • Firm Size 190
  • Profile Visibility [ i ]
    • #20 in weekly profile views out of 450 Law Firms in Hartford, CT
    • #2,780 in weekly profile views out of 314,629 total law firms Overall
Attorney Awards
About Attorney Awards

Estate Planning

A wide variety of families and individuals including business owners, executives of public and private companies, professionals, retirees, philanthropists and sophisticated private investors rely on us for estate planning advice during all stages of their adult lives, often in consultation with those clients' other professional advisors. We assist them with a full range of services from simple wills to the most sophisticated gift, estate and generation-skipping tax-savings techniques that utilize various types of trusts, other entities (such as partnerships, limited liability companies and foundations) and charitable-giving vehicles.

THE ESTATE PLANNING PROCESS


The estate planning process consists of four phases: (1) gathering information about your family and your assets; (2) identifying your objectives; (3) preparing legal documents that provide for the implementation of your objectives; and (4) arranging your assets so that your objectives can, in fact, be achieved. Let’s walk through the Shipman & Goodwin approach to each of these phases.

Gathering Information

Your “estate” is nothing more - and nothing less - than everything you own. Identifying your property and determining its value is a necessary precursor to any meaningful discussion about who will get what at your death. To simplify the information-gathering process, Shipman & Goodwin has prepared a short questionnaire by which you can indicate your holdings by asset categories (cash, securities, real estate, insurance, retirement accounts, and so forth) and the approximate value of each holding. The questionnaire also collects pertinent family information, such as full legal names, addresses, dates of birth, and contact information.

Identifying Your Objectives


Once we have a sense of what your estate consists of and the composition of your family, we sit down with you and listen to your thoughts, concerns and questions. Some people have very specific thoughts (“I want to leave one-tenth of my estate to charity”), while some have more general ones (“I want everything to be available for my spouse” or “I’m concerned that one of my children is not able to handle money”). Regardless of where you may fall in the spectrum, our job is first, to listen to you, and then, to ask you questions that may help you sharpen your thinking. We also explain the basic federal and state estate tax scheme as it is applies to the composition and value of your estate and the interplay between taxes and your overarching estate planning goals. We explain the roles of the people who will be involved in the administration of your estate (Executor, Trustee, Guardian) and help you decide whom you want to appoint to fill these roles. These steps provide the foundation for a dialogue that allows you to evaluate various options for managing and distributing your estate upon death.

Preparing Legal Documents


Estate planning documents generally consist of Wills, Revocable Trust Agreements, Health Care Instructions, Financial Powers of Attorney, and perhaps Irrevocable Insurance Trust Agreements. Shipman & Goodwin maintains a sophisticated battery of provisions to be included in each of these documents, which in each case are tailored and supplemented to reflect an individual client’s plan. On this basis, a set of “draft” documents is prepared and sent to each client within a few weeks after the plan has been laid out in concept. An explanatory letter that summarizes the provisions of the documents accompanies the drafts. Once a client has reviewed the drafts and the letter, we may meet again to address any open issues or to make any necessary revisions. We then finalize the documents and supervise their execution, with attention to all necessary legal formalities.

Arranging Assets

Finally, a critical step in assuring that the estate plan will work as intended may be to take certain administrative actions with regard to specific assets you may own. For example, to obtain certain tax efficiencies, a married couple that owns all of their property jointly may want to retitle one or more assets so that each client owns a certain amount of property in his or her own name. Similarly, beneficiary designations for retirement accounts and life insurance should be reviewed and may need to be updated so that those assets will pass appropriately.

People (190)

0 Applied Filters
Refine Results
Attorney
No Reviews

Family Law, Divorce, Child Custody, Child Support, Litigation View More

Supm. Ct. J.
No Reviews

Criminal Defense, Juvenile, Guardianship, Guardianship, Ethics & Professional Responsibility, Appeals, Litigation, Criminal Defense, Ethics & Professional Responsibility View More

No Reviews

Trusts, Estate Planning, Estate Settlement, Trust Administration, Trusts and Estates, Private Clients View More

Attorney
No Reviews

Arbitration, Advertising, Advertising, Insurance and Reinsurance, Litigation, Product Liability and Tort Litigation View More

Attorney
No Reviews
Attorney
No Reviews

International Law, Advertising, Advertising, Commercial Litigation View More

Attorney
No Reviews
Attorney
No Reviews

Insurance and Reinsurance, Litigation

Peer Reviews

4.6/5.0 (370 reviews)
  • Legal Knowledge

    4.6/5.0
  • Analytical Capability

    4.6/5.0
  • Judgment

    4.6/5.0
  • Communication

    4.6/5.0
  • Legal Experience

    4.6/5.0
  • 5.0/5.0 Review for Andrew Davis by a Partner on 03/05/14 in Environmental Law

    Andrew Davis is an attorney of the highest caliber. He understands the business objectives of his clients and works with them to achieve those objectives. He is skilled in explaining complex legal and technical concepts in a manner that is easy for... Read more

    Read more
  • 5.0/5.0 Review for J. Dormer Stephen by a Associate/Assistant General Counsel on 09/19/13 in Private Equity

    I am Assistant Vice President and Senior Counsel with a Fortune 500 company and have used Dormer on various M&A and private equity transactions. Dormer is an experienced business lawyer, highly knowledgeable about venture capital and private equity... Read more

    Read more
Peer reviews submitted prior to 2008 are not displayed.

Client Reviews Write a Review

Diversity

Shipman & Goodwin is committed to diversity and inclusiveness within the firm, the legal profession and the community. We value the unique backgrounds and distinct contributions of all individuals; our deep commitment is reflected in our efforts to promote understanding, advancement and empowerment.

Our firm management, Diversity Committee and other key members of the firm collaborate to emphasize action. We support ongoing initiatives to recruit, mentor and retain a diverse team of attorneys and staff. We sponsor organizations and develop events that share perspectives and raise awareness of diversity issues facing organizations and the community. We serve as leaders and partner with others to increase diversity in the legal profession.

 

Our Policy

 
One of our core values and objectives is to foster a diverse and inclusive workplace and to develop the outreach initiatives needed to ensure that such values and objectives are shared by everyone at our firm. Diversity, to us, means recognizing, accepting and including differences, such as race, gender, and sexual orientation. Our Strategic Plan recognizes that our continued success depends upon our ability to recruit, hire, train, mentor and retain excellent and diverse attorneys and staff. Maintaining an inclusive organization where all feel welcomed and empowered to succeed enables us to provide the breadth of experience and perspective that best serves our ever more diverse clientele and community.
 

 

Commitment

 
We have a tradition of supporting diversity initiatives both within and outside of the Firm. Among the first large Connecticut law firms to have a woman partner, we have been a leader in addressing and advancing women’s causes in the legal profession, and continue to have the highest percentage of female partners among large firms in Connecticut. We assisted in the formation of the Connecticut Lawyers Group on Minority Hiring and Retention in the late 1980s and were an original signatory of the Statement of Sixteen Connecticut Law Firms Regarding the Hiring and Retention of Minority Lawyers in January 1991. The principles of that Statement helped guide us in developing our hiring, mentoring and retention programs and policies to attract and retain diverse legal and non-legal personnel.

In 1993, we established our Diversity Committee, comprised of partners, associates and staff. The Diversity Committee’s original and ongoing mission includes three essential initiatives: (i) to act as a study group and to conduct programs to educate the Firm concerning diversity issues and to suggest diversity policies to implement at the Firm; (ii) to sponsor Firm-wide outreach activities and events, as part of our effort to increase the number of diverse attorneys at the Firm; and (iii) to act as a resource on diversity matters for the Management, Hiring, and Associates Committees, as well as other groups in the Firm. For 15 years, the Diversity Committee has pursued these initiatives and the Firm’s commitment to diversity and inclusiveness.

Together with other members of the Lawyers Collaborative for Diversity and diversity-based law school and bar organizations such as the South Asian Bar Association of Connecticut, the George W. Crawford Black Bar Association, the Black Law Students Association at the University of Connecticut School of Law, the Connecticut Hispanic Bar Association, the Lambda Law Society at the University of Connecticut School of Law, and the Connecticut Asian Pacific American Bar Association, we continue to work to make Connecticut an attractive environment for all lawyers and law students within which to thrive.

 

Diversity Team

 

Women at the Helm

Women attorneys and clients prosper at the firm. Nearly half our associates, 30 percent of our partners and many of our most valued clients are women. To celebrate this array of accomplished women, we are proud to present the Women at the Helm Breakfast Series. Our goal is to bring together diverse and talented women to share ideas and inspiration. At each seminar, a dynamic woman in business, government, medicine, education or the arts will share her insights and experience.

 

 

 

 

 

Location

Contact Shipman & Goodwin LLP

Required Fields

Required Fields


By clicking on the "Submit" button, you agree to the Terms of Use, Supplemental Terms and Privacy Policy. You also consent to be contacted at the phone number you provided, including by autodials, text messages and/or pre-recorded calls, from Martindale and its affiliates and from or on behalf of attorneys you request or contact through this site. Consent is not a condition of purchase.

You should not send any sensitive or confidential information through this site. Emails sent through this site do not create an attorney-client relationship and may not be treated as privileged or confidential. The lawyer or law firm you are contacting is not required to, and may choose not to, accept you as a client. The Internet is not necessarily secure and emails sent though this site could be intercepted or read by third parties.