Our Tax and Wealth Management Department encompasses our Tax Practice Group and our Trusts and Estates Practice Group.
Tax Practice Group
Schnader’s Tax Practice Group is comprised of lawyers in our Philadelphia, Pittsburgh and New York offices who have broad experience in federal, state, local and international taxation, including sophisticated tax planning and structuring of transactions. We are ready to meet the tax-related needs of domestic and foreign corporations, partnerships, limited liability companies and individuals effectively and cost-efficiently.
Members of the group are prepared to handle the tax aspects of merger, acquisition and joint venture transactions; tax credit syndications; real estate investments and tax-exempt financings; as well as other types of transactions. Our group regularly handles federal tax controversies, including protesting proposed tax adjustments at the appellate level of the Internal Revenue Service and litigating cases in both the U.S. Tax Court and federal appellate and district courts.
Our attorneys also are highly conversant in a range of criminal tax litigation matters, and have represented numerous clients in state and local tax controversies in virtually every state.
Leadership in Specialty Areas
In addition, our Firm has substantial experience in virtually every area of international tax planning; bankruptcy and debt restructuring; employee benefits, including counseling clients on pension, profit-sharing and retirement plans; as well as in a wide range of state and local taxation law issues.
We understand that providing sophisticated advice and assistance requires an understanding of our clients’ business objectives and long-term goals. In each of the areas in which we practice, our lawyers make it their business to know and understand clients’ priorities, and are experienced in crafting advice and recommendations to fit those priorities.
Our attorneys have worked closely with clients in the following substantive areas:
- Choice of entity
- Corporate taxation
- Creditors’ rights and bankruptcy
- Family law taxation
- E-commerce tax issues
- Employee benefits
- Employee stock ownership plans
- Estate and gift taxation
- Excise and employment taxes
- Executive compensation
- Exempt organizations
- Individual taxation
- International tax
- Like kind exchanges
- Mergers and acquisitions
- Natural resource taxation
- Qualified plans
- State and local taxation
- Stock options
- Tax accounting
- Tax controversies
- Tax credits
- Tax-exempt financing
The breadth of our experience makes it possible for us to address the full range of tax-related issues that arise in sophisticated business settings.
An Integrated Approach to Practice
Our attorneys provide an integrated set of legal services that weaves together various interrelated subsets of tax law. Examples include:
Mergers, Acquisitions and Joint Venture Transactions
Our Tax Practice Group has many years of experience in structuring and planning major corporate and partnership transactions, including joint ventures, mergers and acquisitions, divestitures, recapitalizations and leveraged buyouts. We help our clients structure their operations and transactions to take advantage of intricate tax-saving mechanisms.
International Tax Planning
Our attorneys routinely advise both U.S. and foreign clients on tax planning and the structuring of international transactions, including matters involving foreign investment in the United States, FIRPTA, income tax treaties, foreign tax credits, transfer pricing, cross-border leasing, Euromarket financings, foreign insurance operations and other matters.
Real Estate Taxation
We are regularly involved in structuring public and private real estate development projects, including tax credit syndications, as well as real estate investment and sales. Our clients include investors, developers, lenders and community development corporations.
Members of the group design and implement tax-qualified pensions and profit-sharing plans and prepare the necessary legal documentation. We counsel employers about the advantages and disadvantages of various types of retirement plans, including their financial, administrative and legal aspects. We design and prepare supplemental executive retirement plans (SERPs), often involving “rabbi trust” and corporate-owned or split-dollar life insurance. We also assist in the design, implementation and documentation of stock-option and phantom-stock plans as well as “golden parachute” agreements.
Our attorneys advise corporations, partnerships and individuals on unique tax issues that arise in workout and bankruptcy situations, including discharge of indebtedness income issues and income issues pertaining to the use and carryforward of losses and other tax attributes.
We provide sophisticated advice regarding rebate compliance, change of use, debt modification and related matters involving tax-exempt financing. The Firm acts as bond counsel, underwriters’ counsel and special counsel in both large and small tax-exempt financing transactions.
Leveraged Lease and Equipment Financings
We represent clients in connection with leveraged lease and partnership equipment financings, including aircraft and vessel leasing transactions, asset securitizations and international financings.
State and Local Taxation
We provide national, state and local tax planning, audit support and response and related services in connection with the structuring and implementation of business reorganization plans, new business ventures and individual business transactions, audits and assessments of all states’ income, franchise, gross receipts, sales and use, employment, property, motor fuel, property transfer and other excise taxes. Our attorneys have maintained a tax practice in nearly all 50 states, where they have contacts with state tax administrators.
The Firm has represented business entities in a broad spectrum of size, location and industry, ranging from large national and multinational clients in the transportation field, including United Parcel Service, Conrail and several major airlines; to tobacco, production and energy industries; and multistate, regional and local clients in the e-commerce, retail, health care and other service industries.
Trusts and Estates Practice Group
Why Choose Schnader?
The attorneys of the Trusts and Estates Group provide sophisticated and expert legal services to high net worth individuals, owners of family businesses, corporate executives, fiduciaries and charitable organizations in a variety of specialized areas. We offer these services in an integrated way, providing personal, focused attention while making use of the broad array of experience available from our litigation and transactional lawyers on a case-by-case basis, as needed.
Estate Planning and Asset Protection
Our lawyers are experienced in every aspect of sophisticated gift, trust and estate planning. We employ a broad range of techniques that enable us to tailor our clients’ estate plans to their specific needs, including but not limited to:
- tax-sensitive wills,
- state-of-the-art trusts (such as QPRT’s, GRATs, grantor trusts and revocable trusts),
- family limited partnerships,
- limited liability companies,
- business executives packages, and
- corporate benefits packages.
Moreover, businesses engage us to provide such services to their executives.
We also advise our clients regarding asset protection, planning for the possibility of incapacity and the sensitive area of health care decision-making.
Family Business Planning
Representation and counseling for owners of family and closely held businesses is an important part of the Trusts and Estates Group practice. We help our business clients integrate personal, financial and estate planning with bottom-line needs, including business succession planning and business counseling.
Our Lawyers Understand the Entrepreneur’s Perspective
Our close “partnering” with our entrepreneurial clients is particularly rewarding as we become an important part of their growth, success and ability to overcome obstacles. Our lawyers understand the specific need of small businesses for quick, practical, creative and cost-effective advice. We have the experience to effectively interface with entrepreneurial personalities and communicate in a straightforward way.
Our lawyers are able to draw on the broad range of expert resources within Schnader to provide our entrepreneurial clients with a variety of traditional business services including corporate law, contracts, leases, zoning, land use and other real estate issues and taxes.
We also are leaders in providing legal services in a number of areas that are increasingly affecting small businesses and their owners, such as labor and employment relations, employee benefits including pensions and profit sharing, Internet and computer issues and intellectual property such as copyrights and trademarks.
A Wide Spectrum of Dispute Resolution Services
Schnader lawyers have extensive experience in mediation, arbitration and other alternative dispute resolution, as well as more formal litigation, in areas ranging from banking, lending, creditors’ rights and bankruptcy to bidding regulations, franchise law and family law including divorce, support, child custody and property distribution law.
We are highly conversant in the complex area of charitable giving and have extensive experience in the creation of charitable remainder trusts, charitable lead trusts and private foundations. We provide ongoing representation to a variety of private foundations ranging from some of the largest in the country to small family foundations.
We also represent numerous hospitals, schools and other institutions, dealing with a variety of matters including gifts, bequests and planned giving vehicles such as pooled income funds and charitable gift annuities.
Trust and Estate Administration
Our trusts and estates lawyers, together with a team of top-notch fiduciary accountants and paralegals, administer a broad array of significant estates, trusts and private foundations. Our own trusts and estates accounting unit handles all administrative details promptly and efficiently. We have developed long-standing relationships with a variety of trust and banking institutions and maintain a custody arrangement for our accounts with a major national bank.
Leadership in the Community
Schnader’s Trusts and Estates Group attorneys serve in leadership positions in major bar and professional organizations including:
- American College of Trust and Estate Counsel
- Executive Committee of the Probate and Trust Law Section, Philadelphia Bar Association
- Pennsylvania Joint State Government Committee
- Rules & Practice Committee, Public Interest Law Committee, and Tax Committee of the Probate and Trust Law Section, Philadelphia Bar Association
- Real Property Probate and Trust Section of the American Bar Association
Our Trusts and Estates Group lawyers lecture frequently on estate and charitable planning to other lawyers, nonlegal professionals and private groups. Within recent years, we have participated in significant seminars and workshops on planned giving and fiduciary tax law changes.
News & Publications
- For Young Lawyers – “Panel Weighs In on Partner Clashes, Networking and Gift-Giving Grievances”
- For Young Lawyers – “Panel Tackles Quality Work, Courtroom Experience and Drinking at Business Meals”
- Schnader a Tier One Firm in 2019 “Best Law Firms” Rankings
- Schnader Attorneys Named to NY Super Lawyers
- Jay Evans and Michael Williams Named to Schnader Partnership
- Schnader Attorneys Named to The Best Lawyers in America 2019
- For Young Lawyers – “First Up: Choosing a Mentor, Pitching New Business and a Little Coffee Talk”
- Many Schnader Lawyers Named to PA Super Lawyers
- Schnader Advises Valley Pool Sales Regarding Acquisition by Large National Pool Retailer
- Schnader Advises Waste Management Regarding Acquisition of Saratoga Landfill
- Michael Williams Quoted by Consumer Reports on Immediate Impact of Tax Cuts and Jobs Act
- Nadine Doolittle and Michael Williams Quoted in San Francisco Business Times
- The Tax Cuts and Jobs Act: Impact and Planning
- Schnader Attorneys Receive Recognition for Pro Bono Efforts
- Schnader a Tier One Firm in 2018 “Best Law Firms” Rankings
- Schnader Attorneys Named to Super Lawyers 2017
- Schnader Wins Precedent-Setting PA Supreme Court Decision for Wells Fargo
- Schnader Recognized for PA Supreme Court Victory
- Schnader’s International Legal Alliance Ranked “Elite” by Chambers
- Jonathan Flora Quoted in The Morning Call
- Schnader Recognized for Pro Bono Commitment
- Amendments to Philadelphia’s Realty Transfer Tax Will Have a Significant Impact
- Schnader a Tier One Firm in 2017 “Best Law Firms” Rankings
- Many Schnader Attorneys Named to Super Lawyers 2016
- Is an S Election for an LLC Smart Planning or a Bad Idea?
- IRS Shuts Down Work Around for Treating a Partner as an Employee
- The Pennsylvania Capital Stock Tax is no More–Now What?
- Schnader Welcomes Back Tax Partner Jonathan Flora
- Federal Estate and Gift Taxation: An Overview
- Schnader Recognized as Tier One Law Firm in 2016 “Best Law Firms” Rankings
- Thirty-Three Schnader Attorneys Selected for The Best Lawyers in America 2016
- Super Lawyers Recognizes Many Schnader Attorneys in 2015
- Recent Superior Court Decision Underscores Difficulty and Need for Caution When Determining Appealability of Orphans’ Court Orders
- Pennsylvania Bureau Changes Due Dates for Renewing Charitable Solicitation Registrations
- Schnader Recognized as Tier One Law Firm in 2015 “Best Law Firms” Rankings
- Thirty-Two Schnader Attorneys Selected for The Best Lawyers in America 2015
- Super Lawyers Recognizes Many Schnader Attorneys in 2014
- Lift of Prohibition on Same-Sex Marriages in Pennsylvania Provides New Estate Planning Opportunities
- Twelve Schnader Attorneys Honored as 2007 ‘Pennsylvania Rising Stars’
- Schnader Welcomes Michael Williams to the Firm
- Action Needed by March 31, 2014 to Avoid Proposed Changes to New York Estate Taxes and Trust Income Taxes
- Schnader Names Two New Partners
- Schnader Recognized as a Tier One Law Firm in the 2014 “Best Law Firms” Rankings
- Schnader and Yang & Co. Formalize Representation Arrangement for Indonesia Related Legal Matters
- Super Lawyers Recognizes Many Schnader Attorneys in 2013
- The Legal Intelligencer Spotlights Schnader and Philadelphia Bar Association’s National Roundtable on Diversity in the Legal Profession
- Schnader Hosts National Roundtable on Diversity in the Legal Profession
- Three Schnader Attorneys Named 2014 “Lawyers of the Year” by The Best Lawyers in America
- Thirty-One Schnader Attorneys Selected for The Best Lawyers in America 2014
- The City of Philadelphia Passes Two Bills Affecting Taxes on Nonprofits
- Schnader Honors Marla Conley and Denny Shupe with Pro Bono and Community Service Awards
- Consider a Private Foundation to Fulfill Your Philanthropic Goals
- Charitable Giving Under the American Taxpayer Relief Act of 2012
- 2013 Brings Estate, Gift & GST Tax “Permanency” At Last
- The American Taxpayer Relief Act of 2012 and What It Means to You
- 2013 Brings New Taxes to High Income Taxpayers
- Schnader Welcomes Roberta A. Barsotti to the Firm
- Good Donor Stewardship – Acknowledging Contributions
- Good Donor Stewardship – Acknowledging Contributions
- Tax Relief for Hurricane Sandy Victims
- Schnader Recognized as a Tier One Law Firm in the 2013 “Best Law Firms” Rankings
- Schnader Attorneys Recognized as Members of the First Judicial District of Pennsylvania’s Pro Bono Roll of Honor
- Super Lawyers Recognizes Many Schnader Attorneys in 2012
- Thirty-Three Schnader Attorneys Selected for The Best Lawyers in America 2013
- What an Employer Should Do with Its Health Insurance Rebate Check
- “Business Owners … Keep an Eye on Your 401(k) Administrator”
- Pro Bono Newsletter Summer 2012
- Schnader Harrison Segal & Lewis LLP Named to The National Law Journal’s List of Top 250 Largest Law Firms
- Federal Estate and Gift Taxation: An Overview
- Schnader Recognized as a Tier One Law Firm in the 2011-2012 “Best Law Firms” Rankings
- Schnader Lawyers Secure Financing for Harlem Arts and Culture Center
- Sixty-Eight Schnader Attorneys Rated AV® Preeminent™ by Martindale-Hubbell®
- Schnader Obtains Important Trust Victory before the en banc Pennsylvania Superior Court in an Appeal on Behalf of Philadelphia Health & Education Corporation
- Thirty Schnader Attorneys Recognized as “The Best Lawyers in America” for 2012
- Schnader’s Bruce Rosenfield is a Fellow of the American College of Trust and Estate Counsel
- Super Lawyers Recognizes Many Schnader Attorneys in 2011
- Schnader Names Four New Partners
- Ring in 2011 and 2012 With the New Tax Law
- Before the Stroke of Midnight – 2010 Year-End Opportunities
- Schnader Welcomes Six New Associates to the Firm
- Schnader Recognized as a Tier One Law Firm in the First Annual Best Lawyers-U.S.News & World Report Law Firm Rankings
- IRS Announces Relief Program for Non-Filers
- Thirty-Two Schnader Attorneys Recognized as “Best Lawyers in America” for 2011
- IRS Advisory Committee Recommends Online Guide for Setting Executive Compensation
- Getting Ready for Summer – Employment and Tax Law Guidelines for Hiring Interns
- Getting Ready for Summer – Employment and Tax Law Guidelines for Hiring Interns
- Schnader Honored by Philadelphia VIP for Pro Bono Work
- Super Lawyers Recognizes Many Schnader Attorneys in 2010
- 2010 Brings Significant Changes to Federal Transfer Tax System
- Pennsylvania State Budget: Changes to Capital Stock/Foreign Franchise Tax and Corporate Net Income Tax for Fiscal Year 2009-2010
- Pennsylvania State Budget Tax Amnesty Program for Fiscal Year 2009-2010
- Two Schnader Attorneys Honored with 2009 Pennsylvania Bar Association Pro Bono Awards
- Schnader Achieves an Important Victory for a Firm Client in a Landmark Trusts & Estates Case
- Schnader Appellate Team Obtains a Groundbreaking Decision in Pennsylvania Trust Law
- “Caring for Dolphins, Otters, and Octopuses: Speciesism in the Regulation of Zoos and Aquariums”
- Allan Schneirov Honored as a 50-Year Member of the Bar
- Many Schnader Attorneys Honored as 2009 Pennsylvania Super Lawyers
- Proposed Amendments to Philadelphia BPT Regulations Affect Nonprofits
- Twelve Schnader Attorneys Recognized as “Pennsylvania Rising Stars”
- Twenty-Eight from Schnader in Best Lawyers in America 2009
- Schnader Welcomes New Associates
- Schnader Attorneys Assist Area Big Brother Big Sister Branches with Successful Merger
- Schnader Creates Tax and Wealth Management Department
- Twenty from Schnader in Best Lawyers in America 2007
- Several Schnader Lawyers Noted as Best in America
- Issues and Trends in New Jersey Law
- “Federal Tax Appeals (3rd Circuit)”
- Jonathan Flora Spoke at Executive Development Program on Tax Reform
- Schnader’s Women’s Initiative Hosts Networking Event at the Curtis Institute of Music
- Schnader Attorneys Presented “Perspectives on the Impacts of the Supreme Court DOMA Ruling”
- Schnader Attorneys Presented CLE Program “The Inside Scoop on Nonprofit Board Service”
- Schnader and Alice Paul Institute Host Cocktail and Networking Reception
- Roberta Barsotti Spoke at Morgan Stanley GFSP Group Panel
- Schnader Attorneys Presented “Hybrid Companies Combine Profit with a Social Mission”
- Schnader Presented: Using Contemporary Trust Law to Ensure Antiquated Trust Restrictions Don’t Frustrate Trust Goals
- Seminar – Private Foundations: Considerations for Terminating or Restructuring
- 2010 Nonprofit Financial Professionals Breakfast Sessions: Raising Funds from For-Profit Organizations
- Tom Arbogast Speaks at an Educational Session on Marcellus Shale
- Presentation: Ethics in Fundraising
- Schnader Attorneys Participate as Speakers and Course Planners for Real Estate Institute
- Trust Your Planning
- Brass Tacks for Working with Non-Profits