Galofaro Richard A

- 624 S Grand Ave #2000, Los Angeles, CA 90017

For individuals and families in California, managing wealth and planning for the future is a complex endeavor that requires specialized legal expertise. Richard A. Galofaro is an attorney based in Los Angeles who focuses his practice on sophisticated estate and gift tax planning, trust and estate administration, and probate matters. With a strong background in tax law, he is well-equipped to advise high-net-worth individuals and families on the intricate legal strategies needed to protect and transfer their assets efficiently. His work is aimed at providing peace of mind by ensuring that his clients' wishes are clearly documented and legally sound, thereby preserving their legacies for future generations.

Mr. Galofaro's practice is focused on the complexities of estate and tax law, an area that requires precision and a forward-thinking approach. He is known for his experience in structuring and implementing advanced transfer tax planning techniques, such as Irrevocable Life Insurance Trusts and Grantor Retained Annuity Trusts. These specialized tools are designed to help clients minimize their tax exposure and ensure a smooth transfer of wealth. Beyond the technical aspects of the law, he also provides counsel on broader issues, including business and succession planning, as well as charitable giving, helping clients align their financial strategies with their personal values.

As a professional who understands the unique legal landscape of California, Mr. Galofaro works diligently to address the concerns of his clients, particularly in light of changing tax laws. His experience in guiding clients through significant legal decisions, such as using remaining estate and gift tax exemptions before potential law changes, underscores his proactive and strategic approach to legal counsel. He is a key part of the legal community in Los Angeles, known for his ability to provide thoughtful and impactful advice on some of the most sensitive financial matters his clients face.

Richard A. Galofaro's office is conveniently located in the heart of downtown Los Angeles at 624 S Grand Ave #2000, Los Angeles, CA 90017, USA. This central location in a major business hub makes the office easily accessible for clients from across the city and surrounding areas. Its position in downtown Los Angeles is a strategic choice, providing a professional and established environment for discussing important legal matters related to wealth and estate planning.

The office building is committed to providing accessibility for all visitors. It features a wheelchair-accessible parking lot, which simplifies the process of arrival for clients with mobility challenges. The building also has a wheelchair-accessible entrance, ensuring a smooth path into the office. Furthermore, a wheelchair-accessible restroom is available on-site, providing comfort and convenience. For those planning a visit, appointments are highly recommended to ensure that you have the dedicated time with Mr. Galofaro that your legal matters deserve. This allows for a focused and productive discussion, without the pressure of a hurried consultation.

Richard A. Galofaro's practice is centered on providing specialized legal services for high-net-worth individuals and families in the areas of trusts, estates, and tax planning. His expertise allows him to address complex legal and financial issues with precision and foresight. A list of his primary services includes:

• Tax Planning: Providing strategic tax planning advice, particularly for gift and estate taxes, to help clients legally and effectively minimize their tax burdens.
• Trusts & Estates: Assisting with the creation and administration of various trusts and estate plans. This includes sophisticated transfer tax planning techniques like Irrevocable Life Insurance Trusts (ILITs), which are used to transfer assets to beneficiaries free of gift and estate taxes.
• Probate Matters: Guiding clients through the probate process, which involves the legal administration of a deceased person's estate. This ensures that assets are distributed according to the law and the wishes of the deceased.
• Irrevocable Life Insurance Trusts (ILITs): Specializing in the creation and management of these trusts, which are powerful tools for removing significant assets from an individual's taxable estate and protecting them from creditors, while also providing liquidity for beneficiaries to pay estate taxes if needed.
• Business and Succession Planning: Advising business owners on how to properly plan for the future of their company, including the transfer of ownership to the next generation.
• Charitable Giving: Assisting clients in establishing and administering private foundations and other charitable giving strategies to achieve philanthropic goals.

This comprehensive suite of services highlights a deep specialization in the nuanced field of wealth management and estate law, making Mr. Galofaro a valuable resource for clients with complex financial situations.

Richard A. Galofaro's practice is distinguished by several key features that make him a noteworthy attorney in the Los Angeles legal community. These highlights are a testament to his expertise and professional standing.

• Highly Specialized Expertise: Mr. Galofaro has a focused practice in estate and gift tax planning for high-net-worth individuals and families, as well as trust and estate administration. This specialization allows him to provide in-depth knowledge and tailored solutions that are not available from general practice attorneys.
• Recognized Leadership: He has been appointed as a co-managing partner at his law firm, which speaks to his leadership skills and the high regard he holds within the legal profession. This role also ensures that he remains deeply involved in the strategic direction of the firm, which can benefit his clients.
• Proactive Tax Planning: A key highlight is his ability to advise clients on sophisticated transfer tax planning techniques and to counsel them on navigating significant changes in tax law, such as the upcoming changes to estate and gift tax exemptions.
• Focus on Complex Clients: His practice is specifically tailored to clients with substantial assets, which means he is well-versed in the intricate financial and legal issues that such wealth presents.
• Accessibility: The office and building are equipped with significant accessibility features, including a wheelchair-accessible parking lot, entrance, and restroom, making it a welcoming and accommodating place for all clients.

These features demonstrate a firm that is not only highly skilled in its legal practice but also dedicated to providing a professional and accessible experience for its clients.

For those in California seeking expert legal counsel on trusts, estates, and tax planning, Richard A. Galofaro's office is available to assist. You can contact them at the following address and phone number to schedule a consultation:

Address: 624 S Grand Ave #2000, Los Angeles, CA 90017, USA

Phone: (213) 629-7600

Mobile Phone: +1 213-629-7600

It is important to remember that appointments are recommended to ensure that the attorney can be prepared to address your specific legal needs with the necessary time and attention.

Choosing a lawyer, particularly for matters as sensitive as estate planning and tax law, requires a great deal of trust and confidence. Richard A. Galofaro is a lawyer worth choosing for several compelling reasons. His highly specialized focus means he is not a generalist; he is an expert in the nuanced field of estate and tax law for high-net-worth individuals. This specialization is crucial for creating robust and effective estate plans that can withstand legal challenges and optimize tax outcomes.

His reputation as a co-managing partner in a respected law firm, along with his background as a former CPA, gives him a unique and comprehensive understanding of both the legal and financial aspects of his clients’ situations. This combination of skills allows him to provide holistic advice that is not only legally sound but also financially savvy. He is recognized for his ability to handle complex and sophisticated legal planning, which is a significant advantage for clients with substantial assets and intricate financial holdings.

Furthermore, his proactive approach to tax law and estate planning, which includes advising clients on the potential impact of future legal changes, shows a commitment to providing long-term, strategic guidance. He helps clients plan not just for today, but for decades to come, ensuring their legacies are secure. For anyone in Los Angeles and the broader California area seeking a trusted, knowledgeable, and strategic legal partner for their wealth management and estate planning needs, Richard A. Galofaro's expertise and professional standing make him an excellent and reliable choice.

Galofaro Richard A

624 S Grand Ave #2000, Los Angeles, CA 90017, USA