Cases
Representative Matters: Represented real estate entrepreneur in joint venture with one of the 50 largest private foundations in the United States. After success with this joint venture, represented real estate entrepreneur in establishing private real estate investment trust ( REIT )
, after success with the first REIT, represented real estate entrepreneur in establishing a second REIT.
Represented entrepreneurs in establishing limited liability company for development
marketing of intellectual property. Limited liability company operating agreement included carefully crafted provisions to: (i) secure management control for founders, (ii) permit the granting of equity interests to key employees on a tax-free basis, (iii) provide for preferred return of capital for initial investors, (iv) provide for pass-through to owners of tax losses expected in early years,
(v) enable founders to convert entity to corporation if needed to facilitate subsequent round of funding.
Represented owner of closely held business in transferring ownership to generation skipping dynasty trust with no current gift tax or income tax cost. Through the use of purchase money financing, an intentionally defective grantor trust, a limited liability company with preferred
common ownership interest,
appraisals that appropriately took into account discounts for lack of control
lack of marketability, the client used a modest amount of his unified credit
recognized no income on the transfer. When the business was sold a few years afterward, the generation skipping dynasty trust ended up with cash
other property having a value equal more than 50 times the value of the gift.
Represented estate in reforming charitable remainder trust created under inartfully drafted will. Included actuarial analysis of interest (both before
after proposed reformation), drafting of reformation, obtaining favorable private letter ruling,
calculating estate tax liability (iterative process, required spreadsheet to calculate).
Represented the business in transaction dividing two operating businesses
real estate among several family members. Transactions included tax-free division of corporate owned businesses
multiple tax-free real estate exchanges.
Represented severely troubled real estate partnership (debt greatly in excess of value, large potential income tax liability). Designed
implemented transaction in which certain partners received cash
terminated interests in partnership,
other partners (who were insolvent or in bankruptcy proceedings) absorbed debt forgiveness income. Effectively converted potential taxable gain to mostly (about 85%) debt forgiveness income, which was non-taxable to the remaining partners.
Represented client as to tax issues in connection with tax-free disposition of business. Advised client as to methods of hedging risks of undiversified ownership of publicly traded stock received in transaction.
Sam's practice focuses on tax law. He has earned a reputation for innovative
creative tax planning,
he prides himself on developing solutions to tax problems that are both tax-efficient
practical.
