Oversea Funds and Properties
The Internal Revenue Service and the Department of Justice have increased government enforcement related to foreign bank accounts and offshore tax evasion. All tax laws require that each person who has a financial interest in, or signature authority over, one or more accounts in a foreign country, with the aggregate value of $10,000 or more, must file a Report of Foreign Bank and Financial Accounts (FBAR). Additional reporting requirements relate to foreign trusts, foreign gifts and foreign inheritances.
International Funds Recovery
This is done by assessing the “trust fund recovery penalty” against a “responsible party”. Trust fund taxes are the income and social security taxes an employer withholds from the wages of employees. Although corporate officers, directors, stockholders and employees are normally protected from personal liability for the debts of their corporations, the tax collector can assess personal liability against the so-called “responsible persons”.
Real Estate Management
We provide real estate legal services for residential and commercial real estate clients (buyers and sellers), landlord and tenants, and developers. We help with drafting offers, development and financing issues. We provide legal advice on municipal issues, zoning, TIF, assessments and contract matters. Our real estate attorneys have been involved in numerous real estate projects; from homeowners, to commercial, to UW projects.
Family Law, Wills & Probate
Family lawyers are legal professionals who specialize in family law – the law relating to personal relationships such as those between spouses, partners, parents and children. Our estate planning attorneys counsel clients on all matters pertaining to estate planning and probate. The department's goal is to integrate estate planning into the client's overall personal and business planning, taking into consideration special assets such as closely-held businesses, partnerships, limited liability companies, real estate (including special use valuation for agricultural property), life insurance and retirement plan distributions. The firm also designs private foundations and assists clients with obtaining tax-exempt status.
