Trusts and Estates

Baratta, Russell & Baratta is a law firm specializing in estate planning and administration, as well as litigation in all areas. Just outside Northeast Philadelphia, the firm is centrally located to Philadelphia and its surrounding counties, as well as the New Jersey area.

The principal heading the Trusts and Estates practice is Kenneth C. Russell, Esquire. A Temple Graduate, Member of the Temple Law Review and its Moot Court Honor Society, Mr. Russell began his legal career in Washington, D.C. at the prestigious firm of Baker & McKenzie, one of the world’s largest law firms where he represented multinational corporations with regard to their international business transactions. After leaving Washington, he focused his legal practice in the area of Estate Planning and Administration, as well as representing small to medium-sized businesses and their principals.

The Trusts and Estates practice of Baratta, Russell & Baratta focuses on the following areas:

Basic and Advanced Estate Planning – Regardless of the size of an estate or a client’s family situation, every individual requires a basic estate plan which is typically comprised of the following three documents: (1) an advanced health care directive (living will and medical power of attorney); (2) a durable power of attorney; and (3) a Will or possibly a Will and Revocable Trust combination. Once a basic plan is in place, a client’s needs may require more advanced planning, depending on the size of the estate, the types of assets in the estate or the client’s family situation. These needs are assessed and the appropriate estate planning tool is utilized, which may include trusts (irrevocable or revocable), Family Limited Partnerships (geared towards business succession), Family Charitable Foundations, as well as other estate planning tools.

Business Succession Planning – Critical to the continued success of a business are the transition plans of its owners. Whether those plans include transfers between owners or between the owners’ families, important planning must take place to insure the continued viability of the business entity.

Estate Administration - Once the proper plan is in place for a client, it is executed when an estate is administered. The firm assists the executors and trustees of the estate in understanding and fulfilling their responsibilities with a full range of estate administration services.