Karen Schaefer

Rochester Business Journal Staff//July 25, 2025//

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Partner
Barclay Damon LLP

Years in current role: 6

What is one legal issue or trend you’re keeping a close eye on this year?

Aside from changes in the estate, gift, GST tax and income tax rules, my team is keeping a close eye on developments in artificial intelligence. AI is the next step in advancing our productivity for the benefit of our clients. As lawyers, we want to focus our attention on designing creative solutions for our clients instead of implementing tasks. We see AI as the next generation tool in expanding our knowledge base and implementing our strategies. In addition to AI as a research tool, we see AI assisting in the development of our templates, drafting of documents and efficient tracking of information and tasks.

What skills do you think are most crucial for new attorneys entering the field today?

The two most crucial skills we seek in new attorneys are the ability to think both critically and constructively. These qualities can often be in conflict, but attorneys need to be able to do both. They need to break down and assess all the “what ifs” and downsides to any situation and also see solutions and propose constructive strategies. To be effective, new attorneys should work to be resilient, tenacious, practical and a good writer.

What’s one misconception people often have about your area of law?

Estate and business succession planning issues and strategies, including estate, gift and GST tax, trusts and estates and asset protection are not part of the popular conversation, so there is not a clear common understanding of these concepts and issues. Most people know they need a will, but that may be the extent of their knowledge. An effective estate plan to address all the issues we face on death or disability is a true gift to those we leave behind. Not only do we save significant taxes and other costs, but we also help structure and then implement our clients’ objectives, as well as minimize or eliminate the risk of disputes and litigation.

How does the Rochester community influence your work or professional philosophy?

The Rochester area is a great place to practice law and, for me, estate planning. The midsize nature of the community means we have multiple connections to many people and organizations, which gives us shared experiences and helps us to get things done.

What’s your ideal way to spend a weekend in the Finger Lakes or Western New York?

I love to hike, kayak, read and enjoy family and friends.

This profile is part of our Trusts & Estates Power List for 2025. Information used in this profile was sourced from the honoree. View the full list at rbj.net.