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Tax and Wealth Transfer Strategies

 
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Plan your financial future not by years, but by generations.

Thoughtful planning allows you to design the transfer of your wealth as you desire while minimizing the current and future impact of taxes on your estate. It also can protect your assets from unexpected health, personal and business risks and help ensure the ongoing management of your wealth regardless of life’s uncertainties.

Our experts can work with you and your other advisors to develop goals-based, tax sensitive wealth transfer solutions that meet your short- and long-term objectives.

Wealth Transfer Strategies

Access articles to learn more about designing your wealth transfer to meet your goals.

 

Tax Updates

Stay informed about the latest legislative news that may affect your planing.

Suzanne L. Shier

Suzanne L. Shier

Wealth Planning Practice Executive & Chief Tax Strategist/Tax Counsel
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Suzanne L. Shier

Suzanne L. Shier

Wealth Planning Practice Executive & Chief Tax Strategist/Tax Counsel
 

Suzanne L. Shier is the Wealth Planning Practice Executive and Chief Tax Strategist/Tax Counsel for Wealth Management at Northern Trust and serves on the Wealth Management Operating Group. She is responsible for leading Wealth Planning Advisory Services and for providing thought leadership on wealth planning and tax issues of interest to clients and their advisors, with a special emphasis on wealth planning and tax policy, legislation, strategies, trends and developments.

Prior to joining Northern Trust, Suzanne spent 26 years as a partner at Chapman and Cutler LLP in Chicago, ultimately leading the firm’s Trusts and Estates practice, representing individuals, charitable organizations, and corporate fiduciaries in a full range of wealth planning and fiduciary matters, including philanthropy, domestic and international wealth planning, and fiduciary administration.

Suzanne is an adjunct professor in the Master of Laws in Taxation Program at Northwestern University Law School and also a frequent speaker and author. She has been quoted in publications such as the Wall Street Journal and Bloomberg and has received numerous professional honors and recognitions, including selection for inclusion in Best Lawyers in America in Trusts and Estates.
Suzanne earned her bachelor’s degree with distinction in economics and sociology from the University of Michigan in 1982. She received her law degree, cum laude, from the Loyola University Chicago School of Law in 1985 and a master of laws in taxation from the DePaul University College of Law in 1997.

In the civic community, Suzanne supports diversity and education initiatives. She has been involved with the Executive Committees and Boards of Directors of Gads Hill Center and the Chicago Coalition of Women’s Initiatives in Law. Suzanne is Chairperson of the Board of Directors of Chicago Scholars, a college access program for high potential urban students, and a Trustee of Hope College.

Suzanne is a fellow of the American College of Trust and Estate Counsel and a member of the Chicago Bar Association, Chicago Estate Planning Council, American Bar Association, International Bar Association and the International Society of Trust and Estate Practitioners.

Ray Odom, JD, CFP

Ray Odom, JD, CFP

Director of Wealth Transfer Services
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Ray Odom, JD, CFP

Ray Odom, JD, CFP

Director of Wealth Transfer Services
 
Raymond C. Odom is a Senior Vice President at Northern Trust - Chicago. He serves as National Director of Wealth Transfer Services in the Wealth Management business unit. Ray serves as a national subject matter specialist in wealth transfer planning and fiduciary product solutions. Ray works with regional wealth advisory teams and wealth strategists to provide valuable planning ideas to clients, prospects and their advisers. He is an acclaimed noted speaker on wealth planning and asset protection topics.

Prior to his current role, Ray served in the dual capacity of Trust Administrator and Wealth Strategist, where he was responsible for the administration of large, complex trusts for individuals and families. His duties often involved working with sophisticated estate plans, sensitive family situations, and complex property transfers.

Ray began his career with Northern Trust in June, 1980. Ray worked as tax counsel with special expertise in tax exempt organizations, fiduciary income tax, and estate/gift tax before leaving for private law practice in 1990.

From 1990-1994, Ray was a partner in the Chicago law firm of Hoogendoorn & Talbot, Davids, Godfrey & Milligan where he assisted high net worth clients with business succession planning, the drafting of trust and wills, charitable gift planning, trust litigation, corporate transactions, and probate practice during his time in private law practice.

Prior to rejoining Northern Trust in December of 2000 Ray was a Vice President with NBD Bank (n/k/a J P Morgan Chase) where he served as a Relationship Manager trust officer and as local trust counsel.

Ray has a B.A. from Valparaiso University and a J.D. from The Ohio State - Moritz College of Law. He is a has previously served as a series 7 registered representative holding a series 7 and 66 license and is currently also an attorney licensed to practice law in Illinois and before the U.S. Tax Court. In addition, Ray is a Certified Financial Planner(registered trademark) (CFP) and formerly taught as an adjunct professor in the MBA program of Benedictine University. He is a current member of the Chicago Estate Planning Council and the American Bar Association

WSJ: When an Elderly Parent Has Been Scammed

Children often find it difficult to stop fraud, or recover the money. But there are steps they can take.

 

Some Key Tax-Planning Tips for These Volatile Times

Insight on taxes and volatility from Suzanne Shier, chief wealth planning and tax strategist at Northern Trust.

 

 

Wealth Planning Insights

Sharing our collective experience to help you develop practical planning strategies.
 

Advisory Services

Wealth planning expertise at Northern Trust.

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