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Estate and Personal Tax Planning

Quincy Cotton

Quincy Cotton

Partner
Tel:(212) 903-8739 | Email | V-Card
Lionel Etra

Lionel Etra

Counsel
Tel:(212) 903-8721 | Email | V-Card
Sanford H.  Goldberg

Sanford H. Goldberg

Counsel
Tel:(212) 903-8745 | Email | V-Card
Stuart J.  Gross

Stuart J. Gross

Partner
Tel:(212) 903-8723 | Email | V-Card
Debra G.  Kosakoff

Debra G. Kosakoff

Counsel
Tel:(212) 903-8735 | Email | V-Card
JoAnn Luehring

JoAnn Luehring

Partner
Tel:(212) 903-8731 | Email | V-Card
Mark David  Rozen

Mark David Rozen

Partner
Tel:(212) 903-8743 | Email | V-Card
Jessica G. Weinberg

Jessica G. Weinberg

Counsel
Tel:(212) 903-8750 | Email | V-Card

Our approach to estate planning is premised on the belief that the transfer of assets to one’s heirs at the lowest possible tax cost is only one part of the equation. It is just as important to integrate family, business and charitable objectives into the design of an overall estate plan that minimizes income, estate, gift and generation-skipping transfer taxes, as well as transaction costs.

Our estate planners are sophisticated tax lawyers with broad business experience who regularly deal with the problems that challenge family enterprises and closely held businesses. We understand the tension that can arise between family, business and tax goals and have the experience and judgment to deal with complex tax and business issues, including voting control, liquidity, diversification, management succession and transferability of interests. Whether recapitalizing corporations or partnerships, drafting buy-sell agreements, designing innovative charitable contribution arrangements, or structuring offshore investments, we focus on the business, together with the income, estate and gift tax ramifications of different approaches, so as to give tax minimization a practical perspective. Through techniques such as partnership freezes, “defective” grantor trusts and retained or fractionalized ownership interests, we integrate tax, estate and business planning at a level of sophistication that we believe is unparalleled.

Our personal tax practice is integrated with estate planning. We work with executives, high net worth individuals and families to structure their investments, insurance programs and retirement plans, as well as to design compensation arrangements and stock option plans. We help our clients focus on the tax, personal and business issues relevant to achieving their investment and asset accumulation objectives at the lowest overall tax cost. For example, the advisability of an investment may be affected by a host of complications: the passive loss rules, limits on the deductibility of interest and other expenses, timing of gain or loss recognition and differences between personal and corporate tax rates. Often, more esoteric considerations must be evaluated as well: limits on the step-up in tax basis at death, impact of the alternative minimum tax and deferral opportunities through the use of foreign corporations or accounting methods.

International Tax Planning
Dealing with the complex cross-border planning issues that confront nonresident individuals and U. S. expatriates has been a mainstay of our practice since the beginning of the firm. Our clients include world citizens, entertainers, athletes, multinational corporate executives and families with members and assets in multiple jurisdictions. These clients have unique tax problems. Our attorneys regularly address multi-country income, estate, gift and transfer tax problems involving forced heirship, marital rights, usufructs, community property, changes in either domicile or residence, temporary residence in, or expatriation from, the United States, dual citizenship, cross-border investments, offshore trusts and other investment vehicles.

Administration of Estates and Trusts
Tax planning does not end with death. Post-mortem planning often presents surprisingly significant tax-savings opportunities. Our estate planners, intimately familiar with both the income and estate and generation-skipping tax rules, are ideally suited to take advantage of discontinuities that exist in the different regimes. Administration, the process of implementing an estate plan, represented by wills, trusts and other instruments, requires a wide range of skills. This includes experience dealing with interrelationships between the tax and procedural questions that arise probating a will, funding trusts and making distributions to beneficiaries who may be geographically remote and who may have vastly different needs. In addition to mastery of technical tax and probate laws, successful administration requires the practical ability to explain a decedent’s objectives, to resolve conflicts that may arise among beneficiaries and to negotiate or litigate with federal and local tax authorities. Our attorneys have the judgment, together with the planning, negotiating and advocacy skills, required for successful estate and trust administration.

Published: The Daily Tax Report, February 28, 2019
Download the file for Marriage and the 2017 Tax Reform Law.
by , By Libin Zhang (former partner at Roberts & Holland LLP)
Published: Bloomberg Insights, January 10, 2019
Download the file for Qualified Opportunity Zones: Death, Taxes, and Other Uncertainties.
Published: Tax Management Real Estate Journal, November 7, 2018
Download the file for Qualified Opportunity Zones and Select Partnership Issues.
Published: Tax Notes, August 6, 2018
Download the file for Qualified Opportunity Zones: Hot Tubs and Other Hot Topics.
by Stuart J. Gross, Mark David Rozen, Quincy Cotton
Published: Estate & Gift Tax Planning Newsletter, August, 2016
Download the file for A Sea Change in the Valuation Discount Rules: Proposed Regulations under the Special Valuation Rules.
by Quincy Cotton, Stuart J. Gross, Mark David Rozen
Published: Estate & Gift Tax Planning Newsletter, November, 2014
Download the file for Fractional Interests in Art and Other Valuation Challenges.
by Quincy Cotton, Stuart J. Gross, Mark David Rozen
Published: Estate & Gift Tax Planning Newsletter, April 28, 2014
Download the file for New York State Estate and Gift Tax -- April 2014 Update.
by JoAnn Luehring
Published: Exempt Organizations Newsletter, April, 2014
Download the file for New York Non-Profit Revitalization Act: Steps to Take as Effective Date Approaches.
by Quincy Cotton, Stuart J. Gross, Mark David Rozen
Published: Estate & Gift Tax Planning Newsletter, February 27, 2014
Download the file for Estate and Gift Planning in 2014 and Beyond.
by Joseph Lipari, Jason K. Binder
Published: New York Law Journal, March 8, 2013
Download the file for <p>Recent Domicile Determination Gives Taxpayers Reason for Optimism</p>
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Published: R&H Letter to Clients and Friends, January 25, 2013
Download the file for Qualified Charitable Distributions from IRAs -- January 31, 2013 Deadline.
by Stuart J. Gross, Quincy Cotton
Published: New York Law Journal, January 30, 2012
Download the file for Interplay of Federal and New York Estate Taxes Proves Tricky.
by Joseph Lipari, Debra Silverman Herman
Published: New York Law Journal, March 11, 2011
Download the file for Recent New York Residency Cases Reveal Difficulties.
by Michael J. Miller, Howard J. Levine, Richard A. Levine, Mark David Rozen
Published: R&H Letter to Clients and Friends, March 02, 2011
Download the file for Certain Taxpayers May Avoid Penalties If They File Delinquent Information Returns Relating to Foreign Accounts, Foreign Entities, and Foreign Gifts.
by Quincy Cotton, Stuart J. Gross, Mark David Rozen
Published: Estate & Gift Tax Planning Newsletter, March 01, 2011
Download the file for Estate and Gift Tax Planning in the Whole New World of 2011-2012.
by Michael J. Miller, Howard J. Levine, Richard A. Levine, Mark David Rozen
Published: R&H Letter to Clients & Friends, February 09, 2011
Download the file for IRS Announces 2011 Offshore Voluntary Disclosure Initiative With August 31, 2011 Deadline.
by David E. Kahen, Elliot Pisem
Published: New York Law Journal, October 21, 2010
Download the file for Rules Address Reporting of Securities Transactions.
by Michael J. Miller, Howard J. Levine, Richard A. Levine, Mark David Rozen
Published: R&H Letter to Clients & Friends, March 03, 2010
Download the file for IRS Issues Relief from FBAR Filing Obligations for Three Groups.
Published: R&H Letter to Clients & Friends, January 27, 2010
Download the file for Generation-Skipping Transfers: Uncertainty in 2010.
Published: R&H Letter to Clients & Friends, January 15, 2010
Download the file for 2010:  The Year of No Federal Estate Tax (Maybe?).
by Michael J. Miller, Richard A. Levine, Howard J. Levine, Mark David Rozen
Published: R&H Letter to Clients and Friends, September 24, 2009
Download the file for IRS Extends Deadline For Voluntary Disclosure Program.
by Michael J. Miller, Richard A. Levine, Howard J. Levine, Mark David Rozen
Published: R&H Letter to Clients and Friends, July 22, 2009
Download the file for Taxpayers Still Have Time to Resolve Offshore Tax Issues Through the Voluntary Disclosure Program.
by , David Schectman, Lelia Fusfeld
Published: Journal of Taxation of Investments, July 01, 2009
Download the file for Someone Made Off With My Money, Now What? Tax Issues Affecting Ponzi Scheme Victims.
by David E. Kahen
Published: New York Law Journal, June 18, 2009
Download the file for Gratuitous Transfer to Related Partnership Not a 'Distribution'.
by Joseph Lipari, Debra Silverman Herman
Published: New York Law Journal, April 28, 2009
Download the file for New York's Changes to Tax Policy Have Downsides for Nonresidents.
by Ellen Seiler Brody
Published: BNA Tax Planning International Review, December 16, 2008
Download the file for U.S. Adopts Exit Tax Upon Expatriation.
by Quincy Cotton, Stuart J. Gross, Mark David Rozen
Published: R&H Estate and Gift Tax Planning Newsletter, December 15, 2008
Download the file for Carpe Diem! Estate Planning Opportunities in Uncertain Times.
by Sanford H. Goldberg, Quincy Cotton
Published: The Metropolitan Corporate Counsel, December 01, 2005
Download the file for Are Your Non-U.S. Executives Prepared for U.S. Estate Tax?.
by , Carolyn Joy Lee
Published: ABA Tax Section News Quarterly, May 01, 2004
Download the file for The Rising Significance of State Death Taxes.
by Sanford H. Goldberg
Published: International Fiscal Association -- 56th Congress, August 25, 2002
Download the file for Estate Tax Conflicts Resulting from a Change in Residence.
by Sanford H. Goldberg
Published: International Fiscal Association -- 56th Congress, August 25, 2002
Download the file for Gains Tax vs. Inheritance Tax.
Published: State Tax Notes, December 17, 2001
Download the file for The Unfortunate State Tax Side Effects of Federal Death Tax 'Repeal'.
by Quincy Cotton, Stuart J. Gross, Mark David Rozen
Published: Journal of Taxation of Investments, November 15, 2001
by Stuart J. Gross, Quincy Cotton, Mark David Rozen
Published: R & H Letter to Clients and Friends, June 07, 2001
by Joseph Lipari, Quincy Cotton
Published: Tax Management International Journal, January 12, 2001
by Lionel Etra, Jay Soled, Simon Levin
Published: Taxes, June 15, 1999
by Elliot Pisem
Published: New York Law Journal, June 25, 1998
Download the file for Compensatory Stock Options: IRS Provides Some Guidance on Gift and Estate Tax Issues.