Lawyers in the Patton Boggs Estate Planning and Wealth Preservation Practice offer integrated solutions to the business and personal tax needs of our clients. Our tax attorneys possess a unique understanding of the interrelation of the income and transfer tax laws regarding transactions involving closely held businesses, family partnerships, trusts and charitable entities. We recognize the challenges that our clients face and assist them in navigating the complex tax rules with regard to choice of entity, organizing businesses, liquidating entities, structuring transactions, complying with day to day tax matters, and transferring the family business during life or upon death.

The Wealth Preservation Group is devoted to representing families with substantial net worth. We represent a diverse clientele that includes individuals, family businesses, executives, partnerships, real estate owners, real estate developers, private foundations, trusts and estates.

General Tax Counseling/Planning

The Wealth Preservation Group provides tax advice to general and limited partnerships, limited liability companies, corporations, foreign governments, trusts and estates, charitable and educational organizations, and private foundations. Moreover, our tax attorneys advise individuals on personal income and transfer tax matters, business investments and sales, estate and trust administration and wealth preservation.

Partnerships and Real Estate

We often advise clients to incorporate limited liability companies and limited partnerships into their tax planning. The Wealth Preservation Group possesses a unique expertise in the complex tax rules governing transactions with these entities. We have unparalleled experience in structuring transactions with partnership type entities to add flexibility to a client’s business operations, to provide asset protection, and to transfer assets to succeeding generations of the client's family.

Business Succession Planning

The Wealth Preservation Group routinely advises business owners about strategies to transfer a portion or all of the family business in a tax-efficient manner to the next generation for estate tax purposes, while allowing the senior generation to retain control. We coordinate with the family's other advisors to structure a succession plan to govern the family business upon the retirement of the senior generation.

Estate Planning/Trust and Estate Administration

The Wealth Preservation Group has the most sophisticated trusts and estates practice in the Washington Metropolitan area. Our attorneys counsel U.S. citizens (and resident aliens) with respect to their personal estate planning, trust and estate administration, and fiduciary roles. Our practice group is equipped to handle all phases of estate and trust administration, including state probate administration, preparation of federal and state estate tax returns, and preparation of fiduciary income tax returns. We routinely prepare gift (and generation skipping transfer) tax returns and private foundation tax exemption applications for our clients. We represent taxpayers before the Internal Revenue Service at the audit and appellate level.

Philanthropy

The Wealth Preservation Group assists our clients in establishing private family foundations, donor advised funds, supporting organizations and various charitable trusts to accomplish their charitable giving goals in a tax efficient manner during their lifetime. We advise on the proper investments for such entities, as well as how to minimize unrelated business income tax where applicable. We also structure transfers to charitable trusts or other charitable vehicles under the wills and revocable trusts of our clients to accomplish their charitable giving goals at their death and to minimize the estate and generation-skipping transfer taxes imposed on their estates.

Fiduciary Controversies and Litigation

The Wealth Preservation Group advises fiduciaries and beneficiaries regarding their respective duties and rights in trust and estate matters. We often represent all the parties interested in a trust in judicial reformation matters. We also represent either the fiduciary or the beneficiaries in litigation.