FIRM PROFILEWe provide cost-effective, personalized integrated estate and business succession planning tailored to your specific needs. In addition, we provide counseling on taxation issues, business matters and real estate transactions. At Umanah & Associates, our mission is to help you with your family, business, and tax objectives in order to ensure that your financial resources continue to take care of you and your loved ones. We have the experience and knowledge necessary to provide you with excellent and affordable legal services to meet your needs.
ATTORNEY PROFILE
Prior to founding the firm, Ivory was a partner in the trust and estates department of a large Minneapolis law firm. He also practiced with the private client group of a large accounting firm prior to entering the private practice of law. Ivory’s professional affiliations include:
Ivory has co-authored and presented to various groups on estate planning topics. In addition to legal practice, Ivory believes strongly in community empowerment and frequently volunteers his time and services to non-profit organizations serving the needs of the twin cities communities. Ivory graduated cum laude from William Mitchell College of Law and was admitted to practice in Minnesota in 1997. He is also admitted to practice in Wisconsin, the US District Court for the district of Minnesota, and the US Tax Court. He holds a Bachelor of Science degree from Kutztown University of Pennsylvania and an MBA from St. Joseph’s University, Philadelphia, Pennsylvania.
SERVICESBecause we understand that less that 30% of family businesses survive into the second generation, we help clients work through difficult issues involved in planning for the orderly succession of management of their businesses and the transfer of ownership to subsequent generations. Whether you are a beneficiary, a trustee, or a personal representative of an estate, we can help you through each level of the probate process and work with you in administering an estate or trust. Our services also include tax planning and tax return preparation for estates and trusts. Whether you are retired or contemplating retirement, we can assist in the proper planning for retirement benefits to minimize the income tax effects of various distribution options. We understand that it may be necessary to take steps to protect your interests in assets acquired before a contemplated marriage. We will work with you to create an agreement that will be respectful of your wishes. Sometimes it may become necessary for people who are not contemplating marriage to acquire real property together. We can help prepare an agreement to document acceptable economic partnerships. We recognize that each client’s situation requires thoughtful solutions designed just for the client. Accordingly, we will help you craft a plan that satisfies your unique objective. A plan can range from the simple will to the more sophisticated estate plans utilizing trusts. Sometimes even the best plan may later be challenged either by aggrieved family members or the federal or state taxing authorities. We can work with you to resolve disputes arising from a challenge to an estate plan. We can assist in a variety of ways with planning for the care of your elderly loved one, from determining eligibility for various government programs to planning for long term care. If it becomes necessary to appoint a guardian or conservator to represent an individual whose ability to make adequately considered decisions is impaired, we can work with family members or professional fiduciaries to appoint the fiduciary best able to make decisions for the impaired individual. Whether it is analyzing the tax effects of a proposed outright charitable gift or utilizing charitable trusts or private foundations, we can advise and help structure a charitable mechanism appropriate for your unique circumstance. We can help make your experience of selling or purchasing real estate a more pleasant experience by reviewing the purchase agreement, title commitment, and closing documents with you. We are experienced at working with high net worth clients in structuring more sophisticated estate plans utilizing trusts, family limited partnerships, limited liability companies, and other forms of asset protection techniques.
FAQ'S
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Firm Founder, Mr. Ivory S. Umanah, advises clients on all aspects of estate planning, trust, estate administration, business succession planning, taxation, business, and real estate transactions. Ivory’s clients include individuals from all areas of the wealth spectrum, business owners, and professional fiduciaries.
