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Tracy’s clients do not fit a mold, and her advice does not either. Tracy creates strategic plans for her clients that are tailored to their unique goals—whether that is protecting their loved ones, saving taxes, or maximizing their charitable impact. Tracy’s approach to counseling clients is both empathetic and pragmatic. She understands that complex tax planning does not count for much if it is too complicated to administer or ignores the human element: those individuals who the plan is meant to benefit.
Working closely with individuals, family offices, fiduciaries, and foundations, Tracy develops and implements practical, tax-efficient strategies which help her clients transfer wealth to the next generation instead of to the IRS. She has extensive experience with complex planning vehicles, including grantor retained annuity trusts (GRATs), split-interest charitable trusts, dynasty or generation-skipping transfer (GST) trusts, directed trusts, and irrevocable life insurance trusts. Tracy also advises clients on business succession planning and the creation of complex governance structurings, including private trust companies. She also has worked extensively with fiduciaries to guide them in administering these types of structures.
Tracy has developed a specific focus on the area of tax-exempt charitable organizations. She represents both public charities and private foundations, and she has advised her clients on a variety of topics, including self-dealing, qualifying distributions (i.e., the 5% payout), expenditure responsibility, program-related investments, donor-advised funds, and unrelated business income tax (UBIT). She has also counseled clients on making charitable gifts, including negotiating and drafting gift agreements for large donations.
Tracy understands that one of the most difficult aspects of planning is preparing for your death. She helps guide individuals through this process, from completing the monumental task of picking a guardian for their children to choosing an executor. She has considerable experience drafting the documents to implement her clients’ wishes, including wills, revocable trusts, powers of attorney, and advance directives/living wills.
Dedicated to pro bono work, Tracy helps nonprofit organizations form, implement governance structures, and apply for tax-exempt status. She is an active member of Lowenstein’s Women’s Initiative Network, leading the coordination of its annual International Women’s Day campaign.