Carolyn R. Caufield

Practice Areas

Carolyn Caufield is a partner and chair of Herrick's Private Clients Department. She counsels individuals, closely held businesses, corporate fiduciaries and financial institutions on matters relating to multigenerational estate and gift planning, trust and estate administration (including litigations), business succession planning, and charitable giving strategies.

In advising her clients, Carolyn draws upon her extensive experience in designing and implementing sophisticated lifetime gift giving and estate tax planning strategies as part of a multigenerational and tax-efficient approach to wealth preservation. She counsels clients on planning for major life events, disability or incompetence, the succession of family-owned businesses, as well as the valuation of assets for estate and gift tax matters. In addition, Carolyn resolves fiduciary income tax issues, disputed matters involving fiduciaries, and other related conflicts including mediation when appropriate. Furthermore, Carolyn represents individual and institutional clients in Surrogate's Court litigation matters. She has also represented clients in federal and New York estate tax and gift tax valuation proceedings, and proceedings involving federal and New York income taxation of estates, trusts and beneficiaries.

Career

Carolyn is dedicated to working with her clients to define their legacy and ensure their often-unique vision for the future. In her fourth decade of practice, Carolyn is both highly responsive and able to navigate clients beyond the complicated and technical aspects of estate planning, probate law and guardianship. Carolyn is highly regarded for her ability to establish immediate credibility with clients and their other professional advisors as needed.

Professional Memberships

Carolyn is a member of the Association of the Bar of the City of New York, Trusts, Estates & Surrogates Courts Committee. As an active member of that committee, Carolyn participates in legislative efforts that contribute to the formation of new laws and guidelines that better reflect the complexities of practicing in this venerable area of the law in the digital age.

Additional Memberships

- The Lutece Foundation, President

- The Morris Museum, Guinness Collection Committee

- Law Women, NYU School of Law

Expert in these Jurisdictions

Admissions

- New York

- U.S. Court of Appeals, Second Circuit

- U.S. Tax Court

Education

Awards