Todd I. Steinberg

Todd I. Steinberg

Shareholder

Todd I. Steinberg concentrates his practice on complex and sophisticated estate and income tax planning for high net worth individuals and their families. He has wide-ranging experience in achieving multi-generational wealth preservation and accumulation, as well as probate and trust administration. Todd frequently implements business succession and transition planning for privately held companies, business owners and entrepreneurs to build and preserve the value of their companies and personal net worth. He also has particular experience in planning with life insurance products and regularly provides counsel to allied professionals in the insurance industry on sophisticated structures.

Concentrations

  • Multi-generational wealth preservation and tax planning
  • Sophisticated life insurance planning and funding strategies
  • Business succession planning
  • Charitable planned giving
  • Estate and trust administration
  • Probate matters and complex post-mortem tax planning
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Capabilities

Experience

  • Assisted in the proposed sale of a $600 million closely-held international publishing company and the funding of a private foundation and several charitable trusts that own stock in the company and its subsidiaries.
  • Assisted in numerous valuations of national and international closely-held businesses for purposes of discounted gifting of minority interests in the related company, including (i) a $350 million systems integrator providing advance IT, telecommunications, systems engineering solutions and services to the Federal government; (ii) a $180 million global leader in telecom and information technology; (iii) a $75 million technology company; and (iv) a $35 million commercial printing company.
  • Implemented strategies and plans to qualify for the favorable estate tax deferral provisions in a potential $200 million estate that owned primarily closely-held shares of a specialist firm on the floor of the New York Stock Exchange.
  • Implemented and funded several charitable remainder trusts, charitable lead trusts (both grantor and nongrantor) and private foundation (including operating and non-operating).
  • Researched QSST and ESBT eligibility for several Crummey trusts that owned shares in a closely-held corporation considering converting to a S-corporation.
  • Petitioned a local state court to divide a deceased husband's residuary marital trust into separate trusts to file a partial QTIP election to take advantage of the decedent's available estate tax credits and exemptions.
  • Reviewed U.S. estate and income taxation of a U.S. beneficiary of assets from a deceased German domiciliary.
  • Assisted in the drafting and funding of several irrevocable trusts designed to avoid the application of the Florida intangibles tax to Florida resident clients.
  • Assisted in the filing of qualified disclaimers by several beneficiaries of a deceased IRA participant to accomplish an approved spousal rollover of the $1.5 million IRA asset.
  • Assisted in the filing of a qualified disclaimer by a Personal Representative of the second spouse to die's estate to take maximum advantage of both deceased spouse's unified credit amounts.
  • Obtained federal tax exempt status for a testamentary charitable trust that failed to contain all of the required language in the governing instrument to qualify as a private foundation.
  • Participated in the reformation of a $500,000 NIMCRUT to a flip CRT.
  • Legal Intern, United States Attorney's Office, Narcotics Division, Washington, D.C., 1993-1994
  • Legal Intern, State's Attorney's Office, Montgomery County, MD, 1993

Recognition & Leadership

  • Team Member, BTI Power Rankings, “The 16 Strongest Firms for ‘Go-To Outside Counsel’ Insurance Work,” 2016
  • Listed, Greater Washington Legal Elite, SmartCEO, 2010 edition
  • Member, American Bar Association, Sections of Taxation and Real Property, Probate and Trust
  • Member, Maryland Bar Association, Estates and Trusts Section
  • Member, Tax Section and Estates, Trusts and Probate Law Section of the District of Columbia Bar Association
  • Director, President of the Windridge Farms Homeowner's Association, Glenwood, Maryland

Credentials

Education
  • J.D., The George Washington University Law School, 1995
  • B.A., International Affairs and International Economics, George Washington University, 1992
Admissions
  • Maryland
  • District of Columbia
  • Virginia