Professional Profile

Gerald J. Dunworth heads Gibney's Private Client Group providing trusts and estates and tax-planning advice for individuals, corporations, small businesses, nonresident aliens, persons with special needs and charitable organizations. Mr. Dunworth is experienced in designing and implementing estate plans to ensure the proper disposition of property while minimizing transfer taxes and creditor risks. He also advises executors and trustees on the administration of estates and trusts and represents fiduciaries in litigation of contested matters. Mr. Dunworth’s experience in corporate, real estate and commercial law matters enable him to advise clients on business succession planning.

For the past fifteen years, Mr. Dunworth has developed a very active practice using Revocable Living Trusts for clients’ estate plans.  Clients have become increasingly interested in avoiding the Surrogate Court probate process for which the Living Trust is an ideal tool.

Mr. Dunworth also represents clients in controversies with the Internal Revenue Service and state and local taxing authorities. He is a member of the American Academy of Estate Planning Attorneys and frequently lectures on tax planning for international executives.  In addition, he has been invited to be the guest speaker for several Fortune 500 companies.  His seminars are said to be “informative, entertaining and easy to understand.”

Prior to attending law school Mr. Dunworth worked in business and served as an officer in the United States Army.

Representative Matters

Structuring the transfer of portion of family business in a family limited partnership from the father to the children with minimal Gift Tax consequences by using a Grantor Retained Income Trust (GRAT)

Structuring the transfer of a majority interest in a family business to subsequent generations without Gift Tax by selling the business to an Intentionally Defective Grantor Trust

Representing surviving spouse in Surrogate Court to protect her interest in a contested estate accounting matter

Representing family members in Surrogate Court to obtain information from the executor regarding estate administration

Structuring estate plans to enable pension plan benefits to be paid to a trust for the life of the beneficiary

Designing “supplemental needs” trusts for children with special needs who are receiving governmental entitlements

Drafting and implementing life insurance trusts for a spouse who is not a US citizen so the proceeds would not have to be held in a Qualified Domestic Trust

Drafting and implementing “income only” trusts to preserve estate assets for children in the event the parent incurs nursing home costs

Memberships and Affiliations

New York State Bar Association
New Jersey State Bar Association
American Academy of Estate Planning Attorneys

Articles, Publications and Lectures

Articles:

• Article on rules regarding US estate and gift taxation when the surviving spouse is not a US citizen
• Article on use of Health Care Decision documents
• Inside the Minds: Strategies for Trusts & Estates in New York "Guiding Trusts and Estates Clients through the Forest of Legal and Societal Changes"

Speeches:

• Lecturer at United Nations employee organization regarding US Estate and Gift Tax rules affecting foreign persons who remain in the US
• Presenter for national brokerage firms to clients regarding various estate planning issues and topics
• Presenter at annual conference of medical organization regarding Asset Protection Strategies
• Lecturer at Children’s Hospital on Tools and Techniques to protect persons with disabilities
• Lecturer at seminars on benefits of Living Trusts

Miscellaneous:

• Appearance on cable television show as expert on dealing with conflicts regarding inherited vacation homes

Professional and Community Involvement

Chairman of Board of not for profit organization sponsoring summer camps for persons with disabilities
Trustee of Palisades Educational Foundation, Inc.
Volunteer in charge of YMCA father-daughter organization

Education

LLM, New York University, Taxation, 1979
J.D., Fordham Law School, 1978
B.S., Niagara University, 1970

Bar Admissions

New York
New Jersey

Court Admissions

United States Tax Court