Puneet is a Partner at Latimer LeVay Fyock LLC. Puneet concentrates his practice in the areas of tax planning, trust and estate administration, probate practice, minor and adult guardianship, estate and trust litigation, asset protection planning, and business succession planning. Puneet has experience in the administration of trusts and estates and the preparation of estate and gift tax returns, drafting post-nuptial and pre-nuptial agreements, generation-skipping trusts, qualified personal residence trusts, grantor retained annuity trusts, special needs trusts, qualified domestic trusts, intentionally defective grantor trusts and irrevocable life insurance trusts, and organizing and creating limited liability companies, corporations and limited partnerships.
Puneet designs estate plans to meet the personal, financial and business needs of a wide variety of clients, including (a) small to medium sized business owners seeking business succession planning or creditor protection, (b) wealthy individuals and families seeking to facilitate the transfer of wealth within the family structure while minimizing the imposition of gift, estate or generation-skipping tax, (c) young professionals and families seeking to accumulate and protect their assets and (d) families with special needs.
Summary of Professional Experience and Representative Cases:
- Prepared a variety of trusts, including:
- Irrevocable Life Insurance Trusts.
- Asset Protection Trusts.
- Grantor Retained Annuity Trusts.
- Generation-Skipping Trusts.
- Intentionally Defective Grantor Trusts.
- Personal Irrevocable Trusts.
- Qualified Personal Residence Trusts.
- Special Needs Trusts.
- Qualified Domestic Trusts.
- Prepared ancillary estate planning documents, including simple and pour-over wills, Healthcare and Property Powers of Attorney and other ancillary estate planning documents;
- Handled Adult and Minor Guardianship;
- Represented parents in a guardianship of their special needs child where the guardianship was funded by the National Vaccine Injury Compensation Program.
- Represented family members in guardianship of minor children of deceased parents and parents whose rights have been terminated.
- Represented Adult Ward in guardianship estate involving alleged elder abuse by children.
- Litigated Estate and Trust Controversies;
- Represented decedent’s child in action of undue influence and tortious interference with an expectancy whereby child’s share of the trust was reduced from an outright distribution to income only within the last two weeks of the decedent’s life.
- Represented decedent’s child in action of breach of fiduciary duty against a trustee/executor for failing to provide adequate accountings, alleged self-dealing and payment of excessive fees as trustee, executor and attorney.
- Represented an heir and executor of an estate where the other heirs sought to deny the admission of the Will and the appointment of the executor as the independent administrator.
- Drafted Pre-Nuptial and Post-Nuptial Agreements;
- Prepared Estate Tax Returns (706) and Gift Tax Returns (709);
- Handled Estate and Trust Administration, including probate administration; and
- Initiated a variety of intestate and testate probate matters in Cook, Lake, McHenry, Will, DuPage and other collar counties.
- Represented executors, administrators, heirs and legatees in contested and uncontested trust and estate matters.
- Advised Small and Medium Sized Business Owners.
- Formation of entities, including limited liability companies, s-corporations, and limited partnerships.
- Business succession planning, including asset freeze techniques, gifting and sales of assets.
- Advised small and medium sized business owners on general corporate matters, including a business in the hospitality industry that owns and manages 11 taverns in Chicago
Puneet is a member of the Illinois State Bar Association, the Chicago Bar Association and the American Bar Association. He graduated with honors from James Madison College at Michigan State University (B.A., 1997) and from University of Illinois College of Law (J.D., 2000). He is admitted to practice in Illinois.