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Knowledgeable Tax Planning Lawyer

Protecting Your Interests

Appropriate tax planning includes protecting your interests and your assets. Without thoughtful planning, you risk exposing your assets, income, and other valuable rights to excessive taxation. When faced with difficult tax issues, to preserve your interests it is essential that you consult with a skilled tax lawyer.

At Palmer Law Group LLC, we work with successful entrepreneurs, business owners, CPAs, attorneys and others seeking sophisticated personalized tax solutions. As your legal team, we work with your CPA, lawyers, and other professionals to evaluate your specific circumstances and develop a creative plan designed to fit your specific needs. We represent clients throughout and outside the United States.

Business Matters

If you are selling a business, we will be pleased to advise you regarding:

  • The most effective manner in which to conduct the transaction
  • How to handle dry income
  • The practicality of an installment sale
  • Creditor protection planning
  • Protecting your spouse's assets and children's college funds
  • The safety of your medical insurance and retirement plans

If you are purchasing a business, you face different issues. We can help you:

  • Determine which assets to contribute to the business
  • Understand intellectual property licenses
  • Receive creditor protection so debts will not destroy your valuable assets

If you are merging two businesses, we can advise you on the most effective means to accomplish your goals, advise on ERISA, qualified retirement plants, and employee benefit plans. To ensure you are properly protected in any business venture, contact our office.

Estate Planning

Estate planning is a vital part of tax planning. As your legal team, we can help preserve your assets by:

  • Developing an estate plan for your specific situation
  • Considering the possibility of a Family Limited Partnership (FLP)

Our goal is to help you preserve your assets by reducing your estate tax liability. Whether you are planning to grow your child's education fund, pay for an older relative to be in a nursing home, or fund your own retirement, we will work to put together a creative plan that meets your needs.

Charitable Giving: For those persons and families desiring to leverage their charitable giving with financial and/or tax advantages, several types of arrangements can be beneficial depending upon the donor's goals, including but not limited to:

  • Pledge paid over time using installments to stay under the applicable adjusted gross income limitations for deductible contributions.
  • Gifts of appreciated securities and other assets at fair market value and avoid the capital gains tax on disposition.
  • Charitable Lead Trust ("CLT") where the charity leads, i.e. gets money first, with the donor and/or other designated beneficiaries receiving a remainder.
  • Charitable Remainder Trust ("CRT") where the charity gets the remaining balance after specified payments to the donor and/or other designated beneficiaries.
  • Charitable Remainder Annuity Trust ("CRAT") which is a CRT with an annuity as the specified payments to the grantor and/or other designated beneficiaries.
  • Charitable Remainder Unitrust which is a CRT with payments equal to a fixed percentage of its assets as the specified payments to the grantor and/or other designated beneficiaries.
  • Private annuities with a current charitable component.
  • Private Foundations, with or without a corresponding Family Office.
  • Private Life Insurance Company, with or without a charitable component.

Tax Lawyer With Nearly 30 Years of Experience

Make sure you are taking advantage of the current tax laws. At Palmer Law Group LLC, we have a detailed understanding of the complicated and evolving laws, including the IRS Code. Let us use our knowledge to identify a creative solution to your domestic or foreign tax and business problems.

Contact our office online or call us at 301-695-0700 or 800-732-7907 to schedule a initial consultation to discuss tax planning.

From our offices in Frederick, Maryland, and Northfield, Illinois, we serve individuals throughout and outside the United States.

Locations

Maryland Office
615 W. Patrick Street
Frederick, MD 21701
Telephone: 301-695-0700
Toll free: 800-732-7907
Fax: 301-695-0701
Map and Directions

Illinois Office
Two Northfield Plaza, Suite 501
60 Revere Drive
Northbrook, IL 60062
Telephone: 847-715-9988, ext.104
Toll free: 800-732-7907
Fax: 301-695-0701
Map and Directions

Areas of Focus Contact Us

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