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Bruce P. Flynn

Profile photo for Bruce P. Flynn
Profile photo for Bruce P. Flynn
Of Counsel

Bruce P. Flynn

Bruce's clients include individuals, family offices and owners of closely held businesses.

Bruce Flynn, an of counsel in the firm's Trust & Estate Planning practice, focuses on estate planning, wealth transfer and estate administration. He has significant experience in fiduciary services, estate and trust administration, trust and estate resolution, philanthropy consultation and planning, corporate fiduciary counseling, and succession planning for business owners. 

Education & Credentials

Education

  • Alexander Blewett III School of Law at the University of Montana , J.D., 1972
  • University of Washington, B.A., Political Science and English, 1968

Bar and Court Admissions

  • Washington
  • Arizona

Clerkships

  • Bruce P. Flynn > Clerkships, U.S. District Court for the Western District of Washington

Professional Recognition

  • Named a Senior Stateman in Private Wealth Law by Chambers High Net Worth (HNW) Guide, 2018-2024

  • Perkins Coie Washington practice ranked Band 1, in Private Wealth Law by Chambers High Net Worth (HNW) Guide, 2016-2024

  • Named to Band 2 in Private Wealth Law by Chambers High Net Worth (HNW) Guide, 2016-2017

  • Listed in The Best Lawyers in America 1987-2020: Trusts and Estates - Estate Planning, Fiduciary Duties, Gift Planning, Planning for Closely Held Businesses, Probate, Tax, Trust Administration, Wealth Management

  • Listed in Super Lawyers Magazine, "Washington's Super Lawyers," 2003-2022

  • Peer Review Rated AV in Martindale-Hubbell 

    (AV®, BV® and CV® are registered certification marks of Reed Elsevier Properties Inc., used in accordance with the Martindale-Hubbell certification procedures, standards and policies.)

  • Received the FIVE STAR Wealth Manager Award, "Best in Client Satisfaction," 2007-2010

Impact

Professional Leadership

  • American College of Trust and Estate Counsel, Fellow
  • Trust and Estate Dispute Resolution Act Task Force (TEDRA), 1993-2000
  • Washington Chapter of American College of Trust and Estate Counsel, State Chairman, 1991-1994
  • Seattle Estate Planning Council, President, 1992-1993
  • Washington State Bar Association, Real Property, Probate and Trust Law Section, Chairman, 1978-1979
  • University of Washington Estate Planning Advisory Board, Chairman, 1992-1995  
  • Trust Task Force (draft of major revision of Washington trust law), 1980-1984
  • Seattle Estate Planning Seminar, Chairman, 1986
  • Guardianship Law Revision Committee, 1978

Community Involvement

  • University of Montana School of Law, Board of Visitors, 2008-present
  • University of Montana Foundation, Trustee and Chair of Development Committee, 2007-present
  • Forest Ridge School, Planned Giving Committee, Chairman, 2001-2004
  • United Way of King County Endowment Board, Board of Directors, 1999-2001
  • Make a Wish Foundation of Washington State, Board of Trustees, 1989-1992

Professional Experience

Personal Planning

Creation of Private Foundation

Created private foundations to hold family assets, including family foundation counseling and grant-making consultation and advice.

Establish Charitable Remainder Trusts

Advised clients on and implemented structured charitable remainder trusts to achieve asset diversification for clients with low basis marketable securities.

Estate Distribution

Advised on post-mortem establishment of a timber management company to facilitate estate distribution and qualification for deferral of estate tax payments.

Estate Planning and Investing

Advised client on the use of family partnerships and limited liability companies to hold vested non-statutory stock options in Fortune 500 companies for estate planning, investment and management purposes.

Multi-generational Estate and Asset Planning

Advising clients on multi-generational estate and asset planning of families owning large operating businesses.

Tax and Estate Planning

Provide ongoing consultation with an active multi-functional family office on a wide range of tax, estate planning and administrative matters.

IRS Private Letter Ruling 200318064

Formation of trust by state, which authorized that a binding agreement does not result in a gift under IRS Code 2511.

IRS Private Letter Ruling 200122024

Determined that changes to articles of incorporation did not affect grandfathered status of buy-sell provisions contained in the articles of incorporation for federal gift tax and generation skipping tax purposes.

IRS Private Letter Ruling 9451056

Obtained approval on structure of complex grantor retained annuity trusts (GRATs) with revocable spousal annuities.

IRS Private Letter Ruling 9131006

Technical Advice Memorandum on transfers of limited partnership units to family members as gifts eligible for annual gift tax exclusion.

Estate Planning Documents in Context of Family Dynamics

Assisting clients in the preparation of their wills, trusts, powers of attorneys and healthcare documents with an eye to internal family dynamics and the family members' abilities to handle fiduciary and business decisions. This process often includes consideration as to whether non-family executors and trustees may benefit the estate or trust administration. These documents include: revocable living trusts for lifetime management of assets or out-of-state real property to avoid probate, as well as durable powers of attorney for financial and healthcare decisions, Durable Powers of Attorney (DPA), healthcare directives and living wills, Health Insurance Portability and Accountability Act (HIPAA) authorizations for release of protected healthcare information, and premarital and postnuptial property status agreements that clarify status of community and separate property.

Family Office Planning

Providing ongoing consultation with active multi-functional family offices on a wide range of tax, investment management, estate planning and governance matters.

Gift Planning

Providing advice on tax efficient gifting to children and grandchildren, including drafting and implementing "Crummey" Trusts, Generation-Skipping Trusts, Residence Trusts (QPRTs), Grantor Retained Annuity Trusts (GRATs) and Irrevocable Life Insurance Trusts (ILITs). We also assisted clients with education savings planning, including tax effects of 529 Plans, and provided advice on tax efficient giving to charities, including Charitable Lead Trusts and Charitable Remainder Trusts (CLATs, CLUTs, CRATs and CRUTs). In addition, we prepared estate and gift tax forecasts and plans for payment of estate taxes for business succession.

Limited Liability Companies and Family Limited Partnerships

Established limited liability companies (LLCs) and family limited partnerships (FLPs) for the management of family real estate and other assets among multiple generations of the same family.

Maintaining the Privacy of Recognizable Individuals

Working with well-known clients and families to develop and implement a variety of strategies, including title-holding and fictitious name trusts, to enable them to buy, sell and hold real estate and other assets without the risk of being identified and located through searchable public records.

Mediation

Representing clients in the negotiation of mediated agreements covering a wide variety of trust and estate disputes.

Private Foundations & Charitable Trusts

Assisted clients in establishing private foundations or charitable trusts to hold family assets. These include endowment agreements with various educational or charitable institutions. Provided ongoing family foundation counseling and grant making consultation and advice.

Probate and Trust Administration

Advising clients on estate and trust administration, probate, estate and trust dispute resolution matters and the preparation of gift and estate tax returns, including:

  • Representing executors or administrators (a.k.a. personal representatives) of estates and trustees of trusts in the fulfillment of fiduciary duties,
  • Representing beneficiaries regarding their interests in estates and trusts, and
  • Advising and drafting nonjudicial binding agreements to modify will or trust terms or to settle fiduciary disputes
Tax Representation

Preparing gift tax returns to report taxable gifts and federal and Washington estate tax returns and represented taxpayers on estate and gift tax audits.

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