Linda T. Newman, Partner
Linda T. Newman is a partner specializing in the area of estate planning. She represents families who have a net worth of up to $100,000,000 for the purpose of transferring property at death at the lowest possible tax cost. Achieving that objective often requires the use of lifetime trusts. For example, Ms. Newman has used an insurance trust to prevent insurance proceeds received at death from being included in a client's estate. She has also used a qualified personal residence trust to transfer a client's home to their family, removing the home from inclusion in the client's estate, but allowing the client use of the home during their lifetime. And she has used a defective grantor trust to increase the value of a transfer from parent to child by having the income tax on the trust paid by the parent.
Ms. Newman's practice also includes the administration of estates from probate through distribution, including the filing of Federal and state estate tax returns and representation of the estates in IRS estate tax proceedings through the audit level. She has particular experience in the estate tax valuation of interests in real property, whether held outright or through business entities.
Ms. Newman has represented clients in contested probate proceedings, contested accounting proceedings, as well as proceedings for the appointment of a guardian for personal needs or property management.
Ms. Newman also has experience in forming private foundations and has, in 2009, been successful in helping Brooklyn Friends School, an operating not-for-profit organization, receive tax-exempt status from the Internal Revenue Service.
Ms. Newman received a B.A degree from Brooklyn College in 1965 and a J.D. from New York University Law School in 1969. She also received an LL.M. in Taxation from New York University Law School in 1976.
Ms. Newman is admitted to practice in the State of New York and in the U.S. Tax Court.
Professional Activities:
SERVICE TO THE BAR:
- New York State Bar Association (Trusts and Estates Law Section)
- Bar Association of the City of New York
