We devote our practice exclusively to the areas described below.
Within these dedicated practice areas, we serve clients involved in various industries, including entertainment, manufacturing, technology, biotechnology, real estate, law, accounting, business management and medicine.
We also regularly advise public charities and private foundations, and assist our clients in implementing major charitable gifts in the most tax efficient manner.
Estate Planning. From those who are just beginning their financial and family wealth planning, to those who are contemplating retirement or the disposition of their business interests, we counsel our clients through all aspects of estate planning. We tailor their estate plans by developing and implementing sophisticated planning techniques to help them achieve their unique personal, business, and tax-related goals.
We also have special expertise in estate planning for persons in the entertainment industry, as well as authors, musicians, and owners of closely-held businesses. In addition, we have extensive experience in international planning for U.S. and non-U.S. citizens with multi-national holdings, and counseling non-nuclear and multi-generation families.
Business Succession Planning. We regularly advise our clients in planning for the orderly transfer of management and ownership of their family businesses. We have deep experience addressing the mixture of business and personal objectives facing founding business owners, minority shareholders, and succeeding generations.
Matrimonial Planning. Our practice includes representation of clients in sophisticated prenuptial agreements and postnuptial agreements. Because of our expertise in estate planning, tax matters, and business law, we are able to structure these agreements in a more comprehensive manner than a traditional family law attorney.
Charitable Giving. We also regularly advise our clients in connection with their charitable goals, using private foundations, public charities, split interest trusts, and direct giving to charitable institutions.
Tax Planning. Because of our deep tax knowledge, we are regularly consulted by our clients, outside accountants, business managers, and even other attorneys in a variety of transactions involving complex aspects of tax law.
For example, we are often called upon in matters such as structuring tax-efficient business acquisitions and sales, structuring real estate transactions to avoid property tax reassessments, avoiding unnecessary taxation in litigation settlement agreements, as well as other individual and business transactions with a significant tax component.
Tax Audits and Controversies. We also represent our individual and business clients in tax audits and controversies. We serve as their authorized representatives before the Internal Revenue Service in matters involving income taxes, federal payroll taxes and estate taxes; the California Franchise Tax Board in business and individual income tax matters; the State Board of Equalization in sales tax issues; the Employment Development Department for state payroll taxes; and county and municipal jurisdictions in matters involving property taxes and business license taxes.
We regularly advise trustees, executors, beneficiaries and heirs in all facets of estate and trust administration, working closely with trusted financial advisors, accountants, business managers, appraisers and other experts to minimize the income and estate tax liability of the estate (in the short term) and maximize the potential for tax-free growth of assets for beneficiaries (in the long term).
For many families, navigating the legal responsibilities of an estate administration after the loss of a loved one can be daunting, even with a well-drafted and properly funded Living Trust. The successor trustee will face numerous, often time-sensitive, decisions with potentially far-reaching tax consequences. We provide expertise and guidance on issues including valuation of estate assets, allocation of assets among beneficiaries or trusts for their benefit, tax analysis and preparation of estate tax returns.
We regularly advise trustees in connection with the ongoing administration of complex trusts, as well as beneficiaries seeking counsel and clarification of their rights under trust instruments.
Conflicts in trust administrations come up often. Our firm believes that such conflicts can be resolved with good counsel and open communication, including settlement negotiations and mediations. Our goal is always to resolve any conflicts in the quickest way possible to help families avoid expensive and time-consuming litigation.
When a person dies without a Will or Living Trust, their estate must often be distributed through a court-supervised probate administration. We are experienced in the many procedural nuances and technicalities of the Probate Court and regularly assist clients with the preparation and filing of court documents, location and notification of heirs, preparation of an accurate inventory and accounting of probate assets, and distribution of assets under Probate Court supervision.
Transactional Business Law. At Kopple, Klinger & Elbaz, we provide comprehensive transactional counsel to businesses of all sizes that are involved in a wide spectrum of industries. We counsel our clients on business formations and restructurings; represent them in drafting shareholder, partnership, and limited liability company operating agreements; assist them in private placements with venture capital partners and other strategic investors; and counsel them in asset sales, stock sales, and other complex business transactions. In addition to periodic business matters, we act as regular outside general counsel to a number of businesses on the West Coast.
Bringing Value. Most importantly, the firm has a longstanding commitment to bringing a value-added approach to the representation of our business clients. We strive to provide practical and innovative solutions, whether our client is an entrepreneur setting up a new business, or a long-established business owner considering the sale of his or her company. By combining sophisticated tax planning with practical business advice, we bring a special expertise to our counseling in order to provide the greatest value to our clients.
At Kopple, Klinger & Elbaz, we have provided cost-effective legal services to nonprofit clients since our inception.
From new nonprofits to well-established family foundations, our practice includes assisting public charities and private foundations with all of the organizational and operational aspects of obtaining and maintaining their tax exempt status.
We also provide ongoing counsel to our tax exempt clients in complying with applicable public charity and private foundation rules, and assist them with nonprofit business transactions, executive compensation matters, and other issues unique to the nonprofit field.