简介

Charles (Chip) Parks is a trusts and estates advisor. Chip helps clients make complex financial arrangements, including transfers of wealth and related issues involving federal income, gift, estate and generation skipping taxes, state income and property taxes, and estate and trust administration.
Chip advises on:
  • Litigation in Minnesota courts concerning trusts and estates, including contests over elective share rights of surviving spouse and interpretation of wills and trusts
  • Developing estate plans for high net worth individuals and preparing documents to minimize tax costs on receipt and transfer of assets, including planning for ultimate disposition of assets such as closely held business interests, life insurance and retirement plan assets
  • Change of residence of individuals and change of situs of irrevocable trusts and the effect on state taxation
  • Negotiating and drafting prenuptial agreements
  • Proceedings before the Internal Revenue Service (including the Appeals Office and the National Office) and various state revenue departments concerning income and estate tax issues, including valuation of property, inclusion of assets in the estate and qualification for deductions
  • Preparing appropriate federal and state income, gift, estate, generation skipping and property tax returns for individuals and fiduciaries
  • Establishing partnerships and other entities for protection, management and transfer of assets
  • Tax advantaged use of charitable giving techniques and preparing documents to implement such plans for individuals and tax-exempt organizations
  • Administering and distributing large and complex estates and trusts, including assisting fiduciaries in discharging duties to tax authorities, beneficiaries and creditors

资质

执业资格

Florida
Minnesota

出庭资格

U.S. Tax Court

教育

Harvard Law School
J.D. cum laude (1981)

University of Florida
B.S. with high honors (1977)

University of Florida
B.A. with high honors (1977)

见解和活动

其他角度
  • Portability - Tax "Simplification" Strikes Again
    Minnesota State Bar Association Probate and Trust Law Section Seminar, 2015
  • Estate Planning With Federal Portability in the Face of Minnesota Estate and Gift Tax: Are Your Clients Portable Too?
    Minnesota State Bar Association Probate and Trust Law Section Seminar, 2014

领导力和社区

职业协会

  • American College of Trust and Estate Counsel
  • Minnesota State Bar Association — Probate and Trust Law Section (Chair, 1998-99)

市民活动

  • Augustana Care Corporation — Treasurer, 1995-96; Vice Chair, 1998-99; Chair, 2000-02
  • Minneapolis Rotary Club #9 — Director, 1997-99; Vice President, 2011-12; President-Elect, 2018-present

荣誉

  • The Best Lawyers in America — Trusts and Estates, 1995-2015, 2017
  • Minnesota Super Lawyers — Estate Planning & Probate, 2007-09, 2012-14, 2018 (Top 40 Estate Planning & Probate, 2007)
  • Leading Age Minnesota — Board Trustee of the Year, 2015
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