Taxation and Wealth Planning

Federal Estate and Gift Tax Planning

Fox Rothschild’s Taxation and Wealth Planning attorneys provide sophisticated estate advice and employ innovative and appropriate planning techniques to help clients achieve their family and financial goals. We render legal advice on federal gift and estate options or alternatives to various clients, such as closely held business owners, company founders, venture capitalists, private and public company executives, real estate investors, retirees, hedge fund managers, divorcees and single parents, and entertainment, sports and media figures. We consider estate planning to be a collaborative process with our clients and their advisers—one best accomplished through continued conversation, as needs may evolve over time, and that considers how those objectives can be realized in light of an uncertain and constantly changing federal tax law landscape.

The passage of the Tax Relief Unemployment Insurance Reauthorization and Job Creation Act of 2010, which reinstates the federal estate and generation-skipping transfer (GST) taxes effective for decedents dying and transfers made after December 31, 2009, created an unprecedented two-year window of opportunity for many clients. Congress dramatically increased the size of a taxpayer’s estate, gift and GST tax exemptions for 2011 and 2012 as well as lowered the tax rates and introduced a new concept called “portability” that potentially affects the estate plans of married couples.

As a result of the Act, traditional planning strategies and techniques have been bolstered, allowing significantly more assets to potentially pass to beneficiaries. Fox’s tax attorneys have worked closely with clients and their advisers to help them re-evaluate their estate plans and derive the benefits provided by Congress consistent with their overall estate planning objectives.

Additionally, we advise clients who do not permanently reside in the United States on effective methods to hold property to avoid an adverse estate or income tax result. With a thorough knowledge and understanding of certain complex portions of the Internal Revenue Code, the impact of a tax treaty as a factor in the plan and the tax compliance issues and burdens, we also counsel clients, including U.S. citizens and former residents, on the tax impacts of migrating to another country.

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