As tax attorneys we are familiar with both Federal and State Tax Laws. We are often engaged by accountants to assist their clients with their tax issues. We can help you in the following areas:
- Tax Planning
- Audits
- 1031 Exchanges & other Real Estate Tax Issues
- Taxation of Damages
- Audits
- Tax Controversies
- Criminal Tax Fraud
- Payroll Tax Problems
- Sales Tax Problems
- Corporate and Partnership Tax Issues
- Tax Court Matters
- Employment Development Tax Matters
- Property Taxes
- Divorce Tax Issues – Innocent Spouse
As business attorneys, we can assist you in the formation, sale, merger, acquisition or dissolution of your business. We can advise you on the appropriate entity for your business, as well as, assist your accountant in planning for the tax effects. We have substantial experience forming and advising on the following entities:
- General Partnership
- Limited Partnership
- Limited Liability Company
- Limited Liability Partnership
- Corporations (Professional, Closed, Subchapter C and S)
- Mergers and Acquistions
- Business Contracts
- Leases
We strongly suggest that upon setting up any entity where at least two or more individuals are involved, that a Buy-Sell Agreement should be utilized.<
If you die intestate (without a will), your state's laws of descent and distribution will determine who receives your property by default. These laws vary from state to state, but typically the distribution would be to the spouse and the children, or if none, to other family members. That plan may or may not reflect your actual wishes, and some of the built-in-protections for beneficiaries, particularly minor children. We can assist you in setting up your estate plan including, the drafting of wills, durable powers of attorney, directives to physicians, living trusts, irrevocable life insurance trusts, grantor retained income trusts and annuities, and family limited partnerships and family limited liability companies. In addition, we can assist you in maximizing your retirement benefits, including help you determine when and how you should elect to take such benefits.
We can assist you in probating any estate in an expeditious and timely fashion. We can help you with all types of assets and have even been able to obtain orders from the court for the sale of property, without having to first go through an actual probate.
Even if you have a living trust, it is extremely important
that the Trustees of the trust comply with all State laws dealing
with Trust Administration and the tax laws dealing with the division
of assets and filing of tax returns.; Our attorneys are well versed
in this area.
Will and Trust Contests
Our trusts and estates practice encompasses all aspects of litigation. We have represented trustees, beneficiaries, attorneys, administrators in trials, appeals and proceedings. Our practice includes all phases of estate and trust litigation, including will contests, trusts contests, removal of trustees and defense of creditor claims.
If an adult becomes unable to handle his or her own day-to-day financial affairs, someone else must step in to take care of things. If the incapacitated person planned ahead and signed a durable power of attorney for finances, the person names in the documents could take charge without court supervision. But if no planning has been done, an all too common event, then family members must ask to appoint a conservator.; A conservator is someone who has the court-ordered authority and responsibility to manage another adult’s financial affairs. Generally, conservatorships are established for people who are in comas, suffer from advanced Alzheimer’s disease or have other serious illnesses or injuries.
David Lee Rice, Esq. is a member of the National Academy of Elder
Law Lawyers and has spoken to numerous professional associations
regarding elder law. Elder Law is a relatively new and fast growing
field of law that deals with specific legal issues faced by the
elderly population. Our practice combines elements of estate planning,
trusts, wills, conservatorships, guardianships, healthcare planning
including Medicare, Medicaid, Social Security, supplemental and
long-term insurance policy issues and Medi-Cal planning. In addition
our firm focuses on disability planning including use of durable
powers of attorney, living trusts, living wills and other means
of delegating management to another in case of incompetency or incapacity.
Financial Elder abuse is one of the largest growing problems in
the United States. Many elder adults are subject to undue influence
and fraud and have had their life savings stolen from them. The
problem crosses all geographic, socioeconomic, racial and ethnic
barriers. However, because it is still largely hidden under the
shroud of family secrecy, this type of abuse is grossly underreported.;
In fact, many experts agree that the only 1 out of 14 domestic elder
abuse cases is reported to the authorities. Types of elder abuse
may include physical, sexual, or emotional abuse; neglect, or financial
exploitation. It is possible that more than one type of abuse may
be suspected in any give case.
In addition there is rampant abuse in nursing homes. Nursing home
abuse is a challenging experience under the best of circumstances.
However, finding the right attorney to handle your case can be even
more challenging. Many attorneys will not look at elder abuse cases.
They assume incorrectly that because the client is old and in poor
health, damages will be limited and, therefore, the case will not
be worth the effort. Other attorneys may be experts in personal
injury or medical malpractice laws, but know little or nothing about
the Elder Abuse statutes. Our firm knows about these cases and can
successfully sue the attorneys that are defending the nursing homes'
interests.
In divorces a number of tax issues arise, which need to be addressed throughout the proceeding to insure that the parties will receive what they bargained for after taking into account federal and state taxes. The primary tax issues arising from a divorce are the deductibility or capitalization of attorneys' fees; tax consequences from the division of property; tax issues relating to alimony and child support; innocent spouse and §66 issues arising under the Internal Revenue Code.
Our firm frequently assists attorneys and clients in structuring lawsuits and settlements to minimize taxes, where appropriate. We also assist taxpayers in pursuing refund claims for taxes they have paid on damages, when their settlements were negotiated without sufficient consideration being given to the tax ramifications.
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