Estate and Personal Tax Planning

Quincy Cotton

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

Lionel Etra

Counsel
Tel:(212) 903-8721 | Email | V-Card

Sanford H. Goldberg

Counsel
Tel:(212) 903-8745 | Email | V-Card

Stuart J. Gross

Partner
Tel:(212) 903-8723 | Email | V-Card

Debra G. Kosakoff

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

JoAnn Luehring

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

Mark David Rozen

Partner
Tel:(212) 903-8743 | Email | V-Card

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.

Qualified Opportunity Zones and Select Partnership Issues

by Libin S. Zhang
Published: Tax Management Real Estate Journal, November 7, 2018
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Qualified Opportunity Zones: Hot Tubs and Other Hot Topics

by Libin S. Zhang
Published: Tax Notes, August 6, 2018
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A Sea Change in the Valuation Discount Rules: Proposed Regulations under the Special Valuation Rules

by Stuart J. Gross, Mark David Rozen, Quincy Cotton
Published: Estate & Gift Tax Planning Newsletter, August, 2016
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Fractional Interests in Art and Other Valuation Challenges

by Quincy Cotton, Stuart J. Gross, Mark David Rozen
Published: Estate & Gift Tax Planning Newsletter, November, 2014
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New York State Estate and Gift Tax -- April 2014 Update

by Quincy Cotton, Stuart J. Gross, Mark David Rozen
Published: Estate & Gift Tax Planning Newsletter, April 28, 2014
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New York Non-Profit Revitalization Act: Steps to Take as Effective Date Approaches

by JoAnn Luehring
Published: Exempt Organizations Newsletter, April, 2014
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Estate and Gift Planning in 2014 and Beyond

by Quincy Cotton, Stuart J. Gross, Mark David Rozen
Published: Estate & Gift Tax Planning Newsletter, February 27, 2014
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Recent Domicile Determination Gives Taxpayers Reason for Optimism

by Joseph Lipari, Jason K. Binder
Published: New York Law Journal, March 8, 2013
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Qualified Charitable Distributions from IRAs -- January 31, 2013 Deadline

Published: R&H Letter to Clients and Friends, January 25, 2013
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Interplay of Federal and New York Estate Taxes Proves Tricky

by Stuart J. Gross, Quincy Cotton
Published: New York Law Journal, January 30, 2012
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Recent New York Residency Cases Reveal Difficulties

by Joseph Lipari, Debra Silverman Herman
Published: New York Law Journal, March 11, 2011
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Certain Taxpayers May Avoid Penalties If They File Delinquent Information Returns Relating to Foreign Accounts, Foreign Entities, and Foreign Gifts

by Michael J. Miller, Howard J. Levine, Richard A. Levine, Mark David Rozen
Published: R&H Letter to Clients and Friends, March 02, 2011
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Estate and Gift Tax Planning in the Whole New World of 2011-2012

by Quincy Cotton, Stuart J. Gross, Mark David Rozen
Published: Estate & Gift Tax Planning Newsletter, March 01, 2011
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IRS Announces 2011 Offshore Voluntary Disclosure Initiative With August 31, 2011 Deadline

by Michael J. Miller, Howard J. Levine, Richard A. Levine, Mark David Rozen
Published: R&H Letter to Clients & Friends, February 09, 2011
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Rules Address Reporting of Securities Transactions

by David E. Kahen, Elliot Pisem
Published: New York Law Journal, October 21, 2010
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IRS Issues Relief from FBAR Filing Obligations for Three Groups

by Michael J. Miller, Howard J. Levine, Richard A. Levine, Mark David Rozen
Published: R&H Letter to Clients & Friends, March 03, 2010
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Generation-Skipping Transfers: Uncertainty in 2010

Published: R&H Letter to Clients & Friends, January 27, 2010
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2010: The Year of No Federal Estate Tax (Maybe?)

Published: R&H Letter to Clients & Friends, January 15, 2010
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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, September 24, 2009
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Taxpayers Still Have Time to Resolve Offshore Tax Issues Through the 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
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Someone Made Off With My Money, Now What? Tax Issues Affecting Ponzi Scheme Victims

by , David Schectman, Lelia Fusfeld
Published: Journal of Taxation of Investments, July 01, 2009
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Gratuitous Transfer to Related Partnership Not a 'Distribution'

by David E. Kahen
Published: New York Law Journal, June 18, 2009
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New York's Changes to Tax Policy Have Downsides for Nonresidents

by Joseph Lipari, Debra Silverman Herman
Published: New York Law Journal, April 28, 2009
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U.S. Adopts Exit Tax Upon Expatriation

by Ellen Seiler Brody
Published: BNA Tax Planning International Review, December 16, 2008
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Carpe Diem! Estate Planning Opportunities in Uncertain Times

by Quincy Cotton, Stuart J. Gross, Mark David Rozen
Published: R&H Estate and Gift Tax Planning Newsletter, December 15, 2008
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Are Your Non-U.S. Executives Prepared for U.S. Estate Tax?

by Sanford H. Goldberg, Quincy Cotton
Published: The Metropolitan Corporate Counsel, December 01, 2005
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The Rising Significance of State Death Taxes

by , Carolyn Joy Lee
Published: ABA Tax Section News Quarterly, May 01, 2004
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Estate Tax Conflicts Resulting from a Change in Residence

by Sanford H. Goldberg
Published: International Fiscal Association -- 56th Congress, August 25, 2002
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Gains Tax vs. Inheritance Tax

by Sanford H. Goldberg
Published: International Fiscal Association -- 56th Congress, August 25, 2002
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The Unfortunate State Tax Side Effects of Federal Death Tax 'Repeal'

Published: State Tax Notes, December 17, 2001
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Now You See It, Now You Don't: The 2001 Estate Tax Legislation

by Quincy Cotton, Stuart J. Gross, Mark David Rozen
Published: Journal of Taxation of Investments, November 15, 2001

Estate Tax Legislation

by Stuart J. Gross, Quincy Cotton, Mark David Rozen
Published: R & H Letter to Clients and Friends, June 07, 2001

Transfers to Foreign Trusts: Treasury Proposes Regulations Under §§679 and 684

by Joseph Lipari, Quincy Cotton
Published: Tax Management International Journal, January 12, 2001

Market Interest Rate Loans: A Simple and Effective Potential Estate Planning Technique

by Lionel Etra, Jay Soled, Simon Levin
Published: Taxes, June 15, 1999

Compensatory Stock Options: IRS Provides Some Guidance on Gift and Estate Tax Issues

by Elliot Pisem
Published: New York Law Journal, June 25, 1998
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