Mary C. King is a partner in the Trusts & Estates, Elder Law & Special Needs, and Family Business Succession Practices. She focuses her New York and Florida practices in the areas of estate planning, trust and estate administration, estate and gift taxation, elder law, guardianships, and special needs planning, entity formation, and buy/sell and cross-purchase agreements.
Ms. King’s legal experience includes: preparation of Wills, Powers of Attorney, Health Care Proxies, Living Wills, Irrevocable Life Insurance Trusts, Medicaid Trusts, Revocable Trusts, Qualified Personal Residence Trusts, Charitable Remainder and Lead Trusts, and Supplemental Needs Trusts for disabled individuals; trust administration; estate administration for simple to complex taxable estates; negotiating settlements of family disputes; tax planning to minimize estate, gift, and other taxes; guardianships for minors and disabled individuals; counseling on asset protection, hospital discharge planning, home care planning, and Medicaid; entity formation for businesses; and buy/sell and cross-purchase agreements.
Representative Matters
- Handled a complex estate administration matter with primary probate in Florida and ancillary probate in New York, which required the facilitation of a short sale of real property, transfer of a closely held business interest, and the filing of a New York Estate Tax Return.
- Successfully petitioned Surrogate’s Court for the resignation of a corporate Trustee of a multimillion-dollar supplemental needs trust and obtained judicial settlement of a corporate trustee’s intermediate trust account.
- Developed a comprehensive estate plan for a high-net-worth client, which included the preparation of a charitable remainder annuity trust, an irrevocable life insurance trust, and a qualified personal residence trust.
- Assisted with an estate litigation settlement involving the surviving spouse’s right to elective share.
- Involved in obtaining Surrogate’s Court approval for the creation and funding of a multimillion-dollar first party supplemental needs trust, as a result of funds received from a personal injury settlement involving injuries sustained from severe birth trauma.
- Participated in a contested Article 17-A Guardianship of the Person for a disabled individual and was successful in having the initial primary petitioners appointed as guardians by the Surrogate’s Court.
- Drafted Settlement Preservation Trust for proceeds from a multimillion-dollar medical malpractice action for birth-related injury and obtained approval of Trust from the New York Medical Indemnification Fund (“MIF”).
- Handled transfer of multimillion-dollar family business interests from one generation to the next, including formation of Limited Liability Companies, amending and restating Shareholder Agreement, drafting of Buy/Sell Agreement, stock powers, lease agreements, promissory notes, and consulting agreement.
