Heather A. Carmody

Both a lawyer and a CPA, Heather’s practice is focused on wealth preservation solutions, where she advises on and prepares wills, revocable and irrevocable trusts, special needs trusts, family limited partnerships, limited liability companies and charitable trusts. She also works diligently with clients involved in charitable giving and the establishment and management of charitable foundations. Lastly, Heather advises on business succession planning and negotiates and prepares business buy-sell agreements, cross-purchase trusts and other types of arrangements for owners of closely held companies.

An active listener, Heather takes the time to understand each client’s macro objectives, personal needs and distinct motivation for preserving their capital and transferring resources and assets within the family and to charities. When serving as counsel, she is most appreciated for being personable yet professional, helpful yet tough, diligent and responsive. Heather delivers the technical skill in tax law, with the estate planning experience and people skills needed to navigate clients through and beyond challenging situations and even the most difficult family dynamics.

Heather has experience working as external general counsel for a family office worth $1 billion and several worth more than $100 million. She also has experience:

• Creating family office structures
• Decanting trusts for better situs and trustee removal language
• Working with clients to determine whether they should create a private family trust company
• Representing, at audit and appeals levels, individuals, trusts, gifts, partnership and corporate IRS and state audits
• Reviewing client goals regarding ownership, management and tax treatment to create proper entity ownership of structures
• Transferring generational wealth through outright gifting, sales, annuity trusts and personal residence trusts

Prior to practicing law, Heather worked as an audit and tax manager in a Chicago accounting firm focusing on closely held businesses and high net worth individuals. This experience assists her in understanding her client’s businesses and working collaboratively with their accountants.