Carol A. Harrington

Carol A. Harrington: Leading Trusts and Estates Attorney in Chicago

Carol A. Harrington is a highly respected and experienced legal professional specializing in complex estate planning, trust administration, and wealth preservation strategies. With a distinguished career as the former global head of McDermott’s Private Client Practice, Ms. Harrington brings a wealth of knowledge and a strategic approach to advising high-net-worth individuals, families, and businesses on matters of significant financial and personal importance. She is dedicated to providing insightful legal counsel and ensuring the effective transfer of assets while minimizing tax liabilities and safeguarding legacies for generations to come.

Ms. Harrington’s expertise spans a wide range of intricate areas, including estate, gift, and generation-skipping tax planning, meticulously crafted succession plans for closely held businesses, family office structures, and the administration of trusts and estates. She possesses a deep understanding of private trust companies, private foundations, and the nuances of fiduciary duties, enabling her to develop tailored solutions that align with her clients’ unique circumstances and long-term goals. Her legal expertise extends to navigating contested trust and tax matters with precision and advocating aggressively on behalf of her clients’ interests.

A recognized leader in the field, Ms. Harrington has consistently been recognized for her exceptional skills and dedication. She has been honored with the Lawyer of the Year: Trusts and Estates award in Chicago (2015 and 2010) by *Chicago Lawyer* and was also named One of the Three Most Influential Lawyers in Trusts & Estates by *The National Law Journal* in 2011. Her commitment to excellence has earned her numerous accolades, including being recognized as a Lawyer of the Year: Trusts and Estates by *Best Attorney USA* since 1997, and consistent recognition in *Best Lawyers in America* - 2010 Chicago Trusts & Estates Lawyer of the Year.

Key Practice Areas:

Ms. Harrington’s practice focuses on delivering comprehensive legal support across a multitude of areas, including:

• Trusts and Estates Planning: Development of comprehensive estate plans utilizing wills, trusts, and other estate planning tools to maximize asset protection and minimize tax liabilities.
• Estate Administration: Efficient and legally sound administration of trusts and estates, including asset valuation, probate administration, and tax compliance.
• Tax Planning: Strategic tax planning to minimize estate, gift, and generation-skipping taxes, utilizing sophisticated techniques to optimize wealth transfer strategies.
• Succession Planning: Designing comprehensive succession plans for closely held businesses, ensuring a smooth and orderly transition of ownership and management.
• Family Office Structures: Structuring and managing family office operations, addressing legal, tax, and operational considerations.
• Private Foundation Management: Guidance on establishing and managing private foundations, navigating complex regulatory requirements and ensuring compliance.
• Litigation & Dispute Resolution: Experienced representation in contested trust and tax matters, including litigation and negotiation to protect her clients’ interests.
• Generation Skipping Trusts: Utilization of generation-skipping trusts to facilitate wealth transfer to grandchildren and other descendants.
• Gift Planning: Developing customized gift plans to minimize gift tax liabilities.
• Trust Company Representation: Legal representation for private trust companies, navigating regulatory frameworks and providing strategic counsel.
• Fiduciary Duties: Providing expert guidance on fulfilling fiduciary duties to beneficiaries and beneficiaries’ estates.

Education & Credentials:

Ms. Harrington’s credentials reflect her commitment to legal excellence:

• Recognized Since: Recognized in Best Attorney USA since 1997.
• Special Focus Awards: Recognition as a Specialist in Trusts and Estates, with Special Focus designations in Ethics and Professional Responsibility, Family Businesses, Fiduciary Duties, Generation Skipping, Gift Planning, Litigation, Planning for Closely Held Businesses, Private, and Succession Planning, Tax, Transfer Tax, and Trust Administration.
• Bar Admissions: Admitted to the bar in Illinois.
• Affiliations: Member of the Chicago Bar Association, Estates and Trusts Section

If you are seeking experienced and knowledgeable legal counsel in trusts and estates, estate administration, tax planning, or business succession, Carol A. Harrington offers a personalized and strategic approach to address your most pressing needs. Contact her today to schedule a consultation.