High Net Worth Tax Planning Attorney
|The law firm of Longman & Van Grack has years of experience working with clients to protect, preserve, and grow their personal wealth. We work alongside a team of legal and financial advisers that support individuals and families as they navigate through the ever-changing world of tax law.
Longman & Van Grack’sfocus is on protecting the assets of high net worth individuals to minimize federal and state tax liability. We know the difference between tax minimization techniques that work legally, and those that are likely to be disputed by the IRS or state tax collectors. Our lawyers can help you explore all the legal ways to minimize your taxes now and in the future.
The attorneys at Longman & Van Grack are experts at helping individuals structure their income and assets to take full advantage of deductions, credits, losses, and past losses to minimize taxes. We also assist clients with more complex tax planning that utilizes life insurance, offshore and charitable remainder trusts and other vehicles to maximize wealth preservation and accumulation.
Ensuring gifting is done in a way that minimizes taxes in addition to fulfilling our clients charitable and wishes is also one of our firms specialties. Many people do not realize that gifting between family members is subject to taxation if not done according to the IRS rules, thus wasting resources that could to preserved and passed on to future generations. We can help you structure gifts to family members and others to ensure that your intended recipient gets the full benefit, not what is left over after taxes.
If you have an existing tax or estate plan in place, but are not confident in it, our attorneys can conduct an audit to put your mind at ease. We often review plans to ensure that existing tax strategies are not putting you at risk of IRS scrutiny or wasting resources. Our experience working with individuals, businesses, and estates helps us to ensure that any plan in place maximizes wealth preservation both now and in the future rather than being focused on only one point in time.
In tax planning, as in estate planning, waiting carries a risk. If you fail to structure your income or assets in a way to minimize tax consequences now, it may be impossible for a tax lawyer to undo the damage later. It is never too early to talk with an attorney when your hard earned money is at risk.
Whether youre looking to establish a plan or would like your existing plan reviewed, our experienced team of lawyers are ready to help you meet your wealth preservation goals.
Contact the law firm of Longman & Van Grack today at (301) 291-5027 to schedule a consultation. Our experienced team of tax lawyers, based in Bethesda and Rockville, Maryland, are prepared to serve you