TAX LAW

Lovingood Law is well-versed in business, individual, estate, and gift tax issues. Every aspect of our practice – from asset protection trusts to corporate reorganizations – is undertaken with an eye to saving our clients money in taxes.
Shane Lovingood is a tax attorney. He has cut his teeth on tax law and is specially trained in tax law. It is from that foundation that we are able to provide asset protection, estate planning, business succession, charitable gifts, and other services.

From helping estate planning clients minimize estate and gift tax exposure, to advising corporations on all aspects of local, state, and federal taxation, every aspect of our practice is influenced by tax law.

We truly love tax law. Helping clients keep what they work so hard to earn is simply rewarding to us. Some call us Tax Geeks. We have been known to go to lunch and play Tax Code Trivia. Once you know the rules of Tax Law, there can be a lot of excitement in the creative problem solving approach to helping clients.

We offer a team approach to tax planning. We work closely with CPAs and other professional advisors to make sure that the end results match client goals and they understand the planning. Often, tax lawyers will leave the client out of the process. The client ends up confused and does not understand what was done or how to keep the plan together. We work very hard to educate our clients on the options, implementation, and maintenance required to make the plan work.

We typically do not prepare income tax returns. We refer such work to qualified CPAs who, frankly, can do the job more efficiently and at less expense. Although we often prepare gift tax and estate tax returns, we prepfer to plan, design and implement tax strategies.

Some strategies we employ include:

• Irrevocable Life Insurance Trusts
• Qualified Personal Residence Trusts
• Intentionally Defective Grantor Trusts (with or with out “toggles”)
• Family Limited Partnerships
• Charitable Remainder Trusts
• Charitable Lead Trusts
• Qualified Terminal Interest Property Trusts (QTIP Trust)
• Credit Shelter Trust
• Revocable Trust
• Family Incentive Trust (FITs)
• Reverse Triangular Mergers
• Generation Skipping Trusts
• Dynasty Trust

And much, much more!