Tax & Personal Planning

Olshan's Tax & Personal Planning Group provides skilled and sophisticated planning services to “C” and “S” corporations, partnerships, LLCs and other businesses, as well as high-net-worth individuals and families.

• Personal Planning
• Our Personal Planning Services

Our attorneys advise clients on the tax aspects of mergers and acquisitions, corporate and partnership restructurings, controlling and minority equity investments, investments in joint ventures, partnerships and limited liability companies, and collecting and gifting works of art.  We advise on both taxable and tax-free reorganizations and transfers, liquidations and spin-offs. 

We offer tax advice to both real estate developers and passive investors, reviewing and drafting complex real estate agreements. Additionally, we work with our real estate and securities law colleagues on structures for tax efficient investments under the federal opportunity zone program. For our international clients, we advise on inbound and outbound transactions, and structure investment vehicles, foreign and domestic, for private equity, venture capital and hedge funds. 

In addition, we draft the tax disclosure portions of offering documents and draft and render any required tax opinions for the transactions. Our Tax-related services include:

• Provide advice in connection with the establishment and administration of private foundations and charitable organizations

• Corporate acquisitions and combinations
• Venture capital funds and other partnership matters
• Complex real estate transactions
• Employee and executive compensation matters
• Personal tax planning
• Foreign tax planning
• Audit and administrative appeals
• The impact of new and proposed tax legislation

Personal Planning

Our high-net-worth clients are understandably concerned about ensuring that their wealth is transferred in the most tax-efficient manner possible to their beneficiaries. And we are equally determined to leverage all of our skill and experience to ensure that it is.

To that end, we assist clients in drafting wills and creating and administering trusts, from conventional asset protection and grantor trusts to state-of-the-art trusts designed to address our clients’ specific needs. We also handle probate matters, estate administration and any short- or long-term planning issue of concern to our clients.

Our Tax & Personal Planning attorneys also are highly experienced in assisting family-owned businesses, including family limited partnerships and limited liability companies, in minimizing their tax liability and assuring continuity as they transfer their business interests to the next generation. This involves structuring freeze transactions, helping clients develop succession plans and, when necessary, helping to resolve disputes through estate litigation or alternative means.

Our Personal Planning services include:

• Wills and revocable trusts carefully crafted to meet the individual needs of each client
• Complete estate and trust administration services from beginning to end including, probate and other trust and estate litigation.
• Preparation of all types of trusts including, grantor retained annuity trusts and dynasty trusts
• Structure charitable giving during a client’s lifetime or as part of their estate plan
• Creating and advising limited partnerships and limited liability companies as to succession and tax planning
• Prepare health care proxies and powers of attorney
• Structuring freeze transactions

Contact Us Today: 212-451-2300

• Received Prompt and Favorable Tax-Exemption Ruling from IRS for Donor-Advised Fund for Large, Union-Owned Bank

Secured an IRS determination that the Bank’s donor-advised fund is tax exempt under IRC Section 501 (c)(3) in a remarkably swift 11 weeks. The ruling helps to expand the Bank’s array of services that it is able to offer to its customers in accordance with its mission to provide high-quality, affordable, and accessible banking for all.

• Saving Estate Taxes of $25 Million Through Freeze Transaction

Assisted a client in “freezing” the value of a partnership interest that was expected to appreciate signicantly over time.  Father contributed in interests in family business to partnership with daughter and received back a preferred interest with a fixed par value.  Thus appreciation on the assets contributed was removed from his estate. At the time of the client’s death, the value of the partnership interest had increased by approximately $50 million dollars.  If the partnership interest had remained in the client’s estate, additional estate taxes of approximately $25 million would have been owed.

• Obtained Approval to Sale Certain Assets Fund Private Foundation Residuary Bequest While Preserving the most Desirable Assets to Fund a Marital Trust

A will left a percentage of the decedent’s residuary estate to a private foundation and the remaining percentage to a marital trust.  Rather than distributing a proportionate share of the residuary assets (which were business enterprises) to the private foundation, we obtained an order from the Surrogate’s Court permitting the estate to sell certain assets and use the proceeds from that sale to fully fund the amount owed to the private foundation.  By funding the private foundation with cash instead of interests in ongoing business enterprises and by obtaining court approval, the private foundation avoided the excise taxes for self-dealing and having excess business holdings.  In addition, the marital trust was funded with the all of the decedent’s interest in a business enterprise that as the most promising from a future value perspective instead of splitting that interest with the private foundation.

Press Releases