A Tax Estate Attorney helps a client arrange their property and assets in order to avoid estate taxes. They can also assist with the administration of a deceased person’s estate and trust. They have a deep knowledge of legal statutes that govern such matters and have the strategic know-how to carefully word your documents. They are also current on all changes to these statutes and have the experience needed to deal with the IRS or state agencies.
They have the expertise and skill to provide you with the right legal guidance in the complex areas of tax law, elder law, estate planning and professional responsibility. Their experience in these highly specialized areas of law spans decades, and they are able to anticipate hurdles and manage risks for their clients.
The firm has substantial experience in planning for the efficient transfer of wealth to beneficiaries through trusts, wills, joint tenancies and other vehicles. They consider the client’s objectives, family relationships, charitable inclinations and other factors, and design a plan that meets those goals, with consideration of federal and state income tax, gift tax, generation skipping transfer tax laws and other issues. They also advise on the selection of business entities at formation, and reorganization and restructure of existing entities to maximize income tax savings and other benefits.
In addition, the firm assists in the transfer of business interests by preparing buy-sell agreements, negotiated sale agreements and preparing stock option plans. They review business and personal financial statements, perform tax due diligence and advise on the best way to transfer a business interest in a profitable enterprise. They also negotiate and draft financing documents for the purchase or sale of a business or its assets, including mortgages, promissory notes, assignments of receivables and payable, and deferred compensation arrangements.
Tax attorneys often work with other professionals, such as accountants and financial planners, to help their clients minimize taxes. They may also represent their clients before the Internal Revenue Service and other state and local tax agencies regarding property tax disputes. They are able to advocate on their client’s behalf when dealing with these entities and can resolve disputes through mediation or arbitration.
Previously, estate planning fees were tax deductible. However, since the law was changed in 2023, these expenses are no longer eligible as a miscellaneous itemized deduction, and they are phased out for taxpayers with higher incomes.
Our firm represents individuals and families acting as executors, estate administrators and trustees of their trusts and estates. We also assist in the preparation of all related court filings and estate tax returns. Additionally, we can represent property owners in challenging their real estate taxes by protesting their property assessment through the tax commission and, if necessary, commencing judicial review proceedings in Supreme Court. We have significant experience in reducing real estate taxes on commercial and residential properties. In addition, we have extensive expertise in the area of special needs planning for neurodiverse individuals and their families.
