Wealth Planning and Tax Law Attorneys
Planning, Protection and Guidance
Established by a former IRS Attorney. Serving Clients in DC, MD, PA, NJ, NY, and CA.
The Royal Law Firm PLLC focuses on complex tax strategy and planning for high net worth clients, predominantly in Trusts & Estates and Business Law.
Our practice philosophy is to go beyond legal counsel and develop a comprehensive strategy by addressing our clients’ unique needs. We incorporate skills and knowledge from our management and international backgrounds to effectively consider business strategies, cross-border issues, and non-financial considerations, such as family dynamics and cultural issues for our diverse client base.
Priya Prakash Royal, Esq. LL.M., MBA, established the firm in 2009 in New Jersey. After her tenure as an IRS Estate Tax Attorney where she obtained rare insight and experience on some of the most complex estate and gift tax issues on prominent estates, she returned to private practice. The firm is a product of her extensive experience in multiple jurisdictions and across the private and public sectors, serving clients, at every stage of their lives. The firms’ attorneys use their exemplary knowledge and strategy to fully advocate for each client’s unique needs, from professional families, young entrepreneurs, and rising stars, to established CEOs, retirees, and notable celebrities.
Our business law practice, including government contracting, frequently intersects with our Trusts & Estates and Tax Practice, and our team can fully meet our client’s needs across these related practice areas. We also provide co-counsel and tax advisory services on buy-sell transactions, investment, valuation, and asset protection issues that arise in many complementary practices, including commercial law and family law.
We provide counsel on estate planning to minimize estate taxes and bequeath your legacy as you intend using a combination of trust planning (including charitable trusts (CRT), grantor trusts, other irrevocable trusts), structure family businesses, provide asset specific structures, etc. Standard base planning starts with a will, power of attorney and advanced directive for healthcare with more complex strategies layered upon and drafted in conjunction or in stages to work with the base documents.
Our audit experience with large estates (including potentially prominent ones) is especially helpful in the area of intellectual property and rights of publicity protection issues for our clients in the creative and talent driven fields, including athletes, artists, actors, authors performers, musicians, and technical experts such as scientists and engineers. We incorporate our valuation analysis and asset protection knowledge to protecting your brand, invention, and name, likeness and image. We also collaborate with intellectual property professionals where feasible to provide services beyond comprehensive legacy planning and protection beyond estate planning and administration to include trademark, copyright and patent protections.
We counsel you step by step on starting, growing, building and expanding businesses across multiple jurisdictions. We integrate this practice with our trusts and estates practice often to provide comprehensive legacy planning and protection.
We have developed professional relationships with attorneys and other professionals domestically and abroad to provide comprehensive services to our clients. Clients with international assets often require complementary plans and administration of assets abroad and we facilitate the process through these relationships. We are also intimately familiar with complex valuation issues and tax implications, especially Subchapter F considerations, and develop plans that are catered to our global client base’s unique needs.
We will facilitate your role as a personal representative, executor, fiduciary or beneficiary by providing full estate administration services including, filing the petition for probate, preparing and filing all probate forms (inventory, accounting, etc), preparing and filing all necessary tax returns Forms 706, Federal Estate Tax Return, related state, gift, and income tax returns (including Forms 709, F0rms 1041, etc.), obtaining and reviewing appraisals and evaluations, formulating and administering distributions and assisting the fiduciary to comply with all applicable state, foreign, and federal requirements. We collaborate with a network of colleagues and professionals in other jurisdictions (domestic and international) to streamline the process.
Founded by a former IRS estate tax attorney who audited estates exceeding $1 billion and of decedents residing and with assets both domestic and foreign, we are especially well-versed in navigating all the complexities of U.S. law and also collaborating with counsel abroad to navigate the foreign complexities in the estate administration and planning process. We have developed close professional relationships and work effectively with attorneys in multiple jurisdictions, including the United Kingdom, Spain, France, Canada, the Middle East, and India. We guide our clients every step of the way and take an active role in the administering of the estate so that our clients can focus on their families, business, and other matters, of great concern while we handle the legal implications to ensure a smooth and effective transition of a decedent’s assets.
The Royal Law Firm PLLC has a long history of serving the nonprofit sector. We also discount our standard fee schedule for our nonprofit clients qualifying as public charities and for educational institutions. Many of our attorneys have contributed numerous hours and resources to nonprofits focused on civil rights, supporting women and minority groups, veterans, animal welfare, the arts, and education. We are intimately familiar with the organizational and operational compliance requirements for nonprofits.
We provide counsel to clients in the nonprofit sector in various capacities, including advising trust officers on their fiduciary duties in trust administration, tax-exempt 501(c)(3) (public charities) organizations on applicable laws, private foundations, social service organizations, social benevolent organizations, social clubs, veterans organizations, including corporate fiduciaries (who administer charitable trusts and cemetery trusts), private foundations, sporting organizations, academic institutions (colleges and universities), educational foundations, religious organizations (churches, temples (mandir), mosques, synagogues, etc.) , research organizations, and similar nonprofits.
With our extensive experience with IRS practice and procedures, we represent our clients on various tax assessment issues in personal and business income, partnership, corporate, estate, and, and gift tax. From providing guidance and counsel during audits, to settlement negotiations, and evaluating payment options (installment agreements, offers in compromise, etc.), we can help you resolve your tax debt and be in compliance, efficiently and effectively.
Why Choose Us
Founded by a former IRS attorney, the Royal Law Firm PLLC draws on our attorneys’ in-depth knowledge and resources in tax law and, practice and procedures of the IRS and taxing authorities. We also believe in collaborations and providing comprehensive services. We work closely with a network of financial professionals, attorneys, and valuation experts, as necessary, and adopt a value-added approach to provide legal counsel. Combined together with our extensive background in business strategy, management, and international issues, we work fully understand each of our client’s specific needs and counsel them accordingly.
Asset protection, business, and tax law matters which tend to be part of most transactions, both personally and in business. We represent clients with asset protection strategies in trusts and estates, wealth preservation, business structuring, growth, mergers and acquisitions (buy/sell transactions), and provide consulting and co-counsel services in related areas such as family law (divorce settlements/prenuptial/
Priya Prakash Royal, Esq., LL.M., MBA
“Neither talent nor ambition separates those from wealthy families continuing legacies and those seeking to build a legacy. Often, it is simply a matter of employing timely asset protection, growth, and preservation strategies. It is critical that these brilliant minds focus on their unique contributions, whether through profitable or charitable efforts, instead of being distracted by the minutiae of legal strategy and compliance to protect their assets and their loved ones. My role is to fill that gap and help them protect and preserve their legacies – whether inherited or created. I founded this firm on the same principle – to be the continual trusted advisor, creating, resolving, and collaborating with all the people and resources needed to effectively create, protect, and preserve our clients’ legacies, at every stage.”
Priya Prakash Royal
Attorney Royal is frequently invited to speak at webinars and seminars nationwide and has several publications. She has also been retained as an expert witness and provides expert witness services. Some of her recent publications and presentations include:
- October 2020: Planning and Audit Issues for Creatives and Athletes. Virtual Panel Presentation with Dawn Kerner, Volpe Koenig and Michael Perlmutter, Valuation and Litigation Group, Estate and Tax Planning Series, DC Bar.
- January 2020: Digital Arts as Estate Assets, Trusts & Estates Journal, Heritage Auctions, Spring 2020.
- October 2019: Outlook on Tax Legislation and Regulation. Panel presentation with the Hon. Mark V. Holmes, Michael F. D’Addio, Marcum LLP, and moderated by Eric B. Garfield, Valuation and Advisory Group. 2019 IRS Valuation Summit, National Appraisal Institute.
- July 2018: Who Owns you When you Die: Inside the Estates of Deceased Celebrities. Panel Presentation with Professor Jennifer E. Rothman and Deborah Morales, CEO, Iconomy, and moderated by Kareem Abdul-Jabbar. USPTO National Trademark Expo.
- February 2018: IRC 645 Election: Estate Planning for Qualified Revocable Trusts in Taxable Estates. Webinar Panel with John E. Dawson, Dickinson Wright and Christiana M. Lazo, Ropes and Gray. Strafford Publications.
- January 2018: 2017 Tax Cuts and Jobs Act., Webinar Panel with Parag Patel, Patel Law Offices, National Asian Pacific American Lawyers Association.