Practice Profiles

Business, Tax & Estates

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Business, Tax & Estates

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CORPORATE AND BUSINESS
We enjoy a very broad corporate practice involving practically all types of business and corporate matters. We handle the formation, operation, and liquidation of corporations and other business entities; the acquisition and sale of businesses and business interests; mergers, stock exchanges, and recapitalizations; business planning and debt financing; business and shareholder disputes; and virtually every other matter that arises in the operation of a client’s business. A large part of our corporate practice involves general consultation with business clients on the varied legal considerations inherent in their day-to-day operations. We are also involved in the drafting and negotiation of business documents of all types, such as employment agreements and covenants not to compete, stockholder buy-sell agreements, sales and marketing agreements, asset and stock purchase agreements, commercial leases, and corporate minutes. We frequently work closely with a client’s accountants and other business advisors in achieving business objectives.
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LIMITED LIABILITY COMPANIES AND PARTNERSHIPS
Our attorneys have developed significant expertise in the formation and operation of limited liability companies, limited partnerships, and general partnerships, including the taxation of these entities. We draft LLC operating agreements and partnership agreements, and assist and advise our clients in negotiating the terms and provisions of these documents. We also advise our clients on the ongoing operations of their limited liability companies and partnerships, and are involved in all aspects of business and tax planning. In conjunction with our Real Estate and Banking department, we assist our clients in planning and executing a multitude of transactions involving limited liability companies that own commercial real estate.
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PENSION AND EMPLOYEE BENEFITS (ERISA)
Our ERISA attorneys invest significant time staying abreast of current developments in this ever-changing area of the law. We are involved in the design, drafting, qualification, and termination of pension plans, profit sharing plans, 401(k) plans, and other qualified retirement plans. We work extensively in other employee benefit areas as well, such as cafeteria plans, COBRA, medical reimbursement plans, dependent care assistance plans, and other welfare benefit plans. We counsel with our clients on minimizing income taxes on retirement plan withdrawals through the use of rollovers, special taxation techniques, and tax deferral mechanisms. We also design and implement non-qualified deferred compensation arrangements and other executive compensation programs.
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TAXATION
We are widely recognized in the area of taxation. Several of our tax attorneys are also CPAs with years of tax accounting experience in public accounting practice. We handle all aspects of individual, partnership, and corporate taxation. A substantial part of our tax practice involves structuring business and commercial transactions to achieve the most favorable tax results. We also provide clients with tax planning and advice on tax return preparation as well as representation before administrative agencies, tax tribunals, the tax court, and state and federal courts. Our tax attorneys are frequent lecturers to groups of attorneys, accountants, and other professionals. They work in close consultation with our other practice groups in order to maximize tax benefits consistent with practical business and investment planning.
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ESTATE AND PERSONAL PLANNING
Our estate planning attorneys render advice to individuals regarding their personal and financial objectives. We advise them on the use of trusts and other devices during their lifetime and at their death to transfer assets within the family in a manner that will minimize federal and state gift and death taxes. We also evaluate financial plans, insurance policies, and similar proposals, and review the tax consequences of particular investments for our clients. We are involved in drafting wills and trusts, powers of attorney, and advance health directives (such as living wills and health care powers of attorney).

We have special expertise in assisting families with the transfer of business ownership and management from one generation to the next, involving a coordination of legal, tax, and interpersonal skills. In these engagements, our goal is to plan and implement the business transition within the family in a manner that minimizes federal and state income, gift, and death taxes while at the same time preserving family harmony and enabling the business to continue its successful operation.

We also assist clients in establishing personal tax planning strategies. We are experienced in assisting families in the appointment of guardians, formulating special plans or trusts for the care of children and other family members who have special medical or other needs, and planning for and obtaining medical assistance under government benefit programs.
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ESTATE AND TRUST ADMINISTRATION
We handle all aspects of estate and trust administration, including qualification of personal representatives and trustees, preparation of inventories and accountings, post-mortem tax planning, and preparation and filing of federal and state fiduciary income tax returns and estate and inheritance tax returns. We also assist clients with estate litigation, including will caveats, spousal dissents, and fiduciary proceedings.
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ELDER LAW
Our elder law practice focuses on the needs of seniors and clients with disabilities. While many of our clients are either planning for or are already in a skilled care setting due to age or disability, we also serve families who have children with special needs. We advise clients on ways to protect and preserve their assets in view of the ever-increasing costs of long-term care. Whether we are engaged in Medicaid planning, estate planning, or assisting with the appointment of a guardian, our goal is to assist our clients in obtaining quality care in the most economically sound manner.

Recognizing that long-term care and end of life issues often can be difficult for our clients and their families, we strive to build relationships with our clients, and sometimes with their entire families. We ensure that our clients are comfortable, not only with their plan, but also with their attorney and staff. Our attorneys truly serve the client, often making visits to nursing facilities, hospitals, and homes when a client is physically unable to visit our office.
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235 N. EDGEWORTH ST. GREENSBORO, N.C. 27401 | Phone: (336) 379-8651 | FAx: (336) 273-7885