Paul Marcotte, Jr. Chairs the firm’s Tax practice group and is a member of its Estate Planning, Estate & Trust Administration and Nonprofit groups. He concentrates his practice on federal, state and international tax matters (both planning and controversy), estate and wealth preservation planning, probate and trust administration, nonprofit organizations, and business counseling and succession planning. Paul helps his clients by putting complicated tax issues into simple English. He makes sure that the individuals, businesses and international clients he services have help navigating our complex tax systems and avoid potential minefields such as increased levels taxation and/or penalties.
Paul’s international tax practice also includes advising a wide spectrum of clients on cross border investment matters and international tax compliance. He counsels multinationals on the structuring of foreign investment in U.S. real estate or establishing new business ventures or subsidiaries in this country with a view to minimizing the potential impact of U.S. income taxation on the profits/gains from such activity and limiting exposure to U.S. wealth transfer taxes. The converse involves assisting U.S clients (including dual nationals) that hold interests in offshore entities subject to some rather complex and onerous tax regimes and enhanced reporting requirements including foreign trusts, controlled foreign corporations and passive foreign investment companies where penalties for non-compliance can be quite severe. He also advises on more complex international matters including expatriation planning and migrating offshore structures onshore to avoid the need for continuing reporting of such holdings and undue tax exposure by U.S. beneficiaries.
From an estate planning perspective, Paul designs sophisticated strategies for high net worth clients, including successful business entrepreneurs and real estate investors.