Scott D. Ross is a partner in Rimon’s Private Client group. He is a Certified Specialist in Probate, Estate Planning and Trust Law as determined by the California Board of Legal Specialization. This designation is held by fewer than 3% of California estate planning attorneys.
Mr. Ross specializes in estate planning for high net worth individuals, including entrepreneurs, executives, owners of closely held businesses, real estate developers and physicians. His practice emphasizes wealth preservation and asset protection. Mr. Ross works with clients to prepare customized estate plans involving generation-skipping trusts, charitable remainder trusts, charitable lead trusts, family limited partnerships, family limited liability companies, grantor retained annuity trusts (GRATs), irrevocable insurance trusts, and private family foundations. He has extensive experience in legal issues involving federal estate, gift and generation-skipping taxation. A few examples of Mr. Ross’s work are as follows:
- Developed a strategy to transfer $75 million of family legacy real estate to a dynasty trust without incurring gift tax, and fully covered by generation skipping tax exemption. The dynasty trust will protect that real estate from estate tax, creditor claims and divorce claims in perpetuity.
- Worked with venture capital partners to transfer carried interests to irrevocable children's trusts at the beginning of the fund when those interests were of modest value, and watched those interests grow in value to more than $10 million, thereby transferring significant wealth while using minimal gift tax exemption.
- Developed multiple term of years flip charitable remainder trust strategy to hold extensive position in large public company that was a possible hostile acquisition target, so that client could (a) benefit the client's private foundation when he chose by terminating one or more of the trusts early in whole or in part; (b) get the stock into a structure which would avoid capital gains tax on a sudden forced sale in a hostile acquisition; and (c) still give the client the right to cash flow from one or more of the trusts if he decided he needed it, by triggering the flip mechanism.
Mr. Ross uses a values-based planning approach, working with clients to structure plans that focus on inherited wealth having a positive effect on their heirs, and on leaving a legacy in the broadest sense of the word. Scott also assists surviving spouses, children, successor trustees, and executors in the administration of trusts and estates following a death. Mr. Ross has been recognized for his accomplishments by Best Lawyer in America in trusts and estates from 2006 to 2017.
Honors and Recognition
- Listed in Best Lawyers: The World's Premier Guide, 2006-2017
- LexisNexis Martindale-Hubbell AV Preeminent - For Ethical Standards and Legal Ability
- Rated By Super Lawyers
News, Events, & Insights
Rimon Partners in Five States and in Israel listed in Best Lawyers® Again
News August 15, 2018
Tax Cuts and Jobs Act: Application to Estate Planning and Gift Planning
Insights January 08, 2018
Is This the End for Valuation Discounts in Family Wealth Transfers?
Insights September 29, 2016
Rimon Partners in Five States and in Israel listed in Best Lawyers® for Third Consecutive Year.
News August 15, 2016
Rimon Partners in Five Offices Named in Best Lawyers® in America List Again.
News October 02, 2015
Rimon Partners Recognized on 2014 California Super Lawyers List
News January 02, 2015