Equitable Access to Sophisticated Wealth Planning and Tax Law Counsel
Private Client Law Firm
- Tax, Trusts & Estates, and Business Law
- Multidisciplinary industry expertise – food & beverage, private equity, technology, entertainment, and more.
- Founded by a former IRS Estate Tax Attorney. Women-powered and minority woman owned firm
- Comprehensive and catered counsel for founders, entrepreneurs, leaders, and international families
- Serving clients globally and practicing in DC, MD, VA, PA, NJ, NY, CT and CA.
OUR PRACTICE PHILOSOPHY
The Royal Law Firm PLLC, founded in 2009 by Priya Prakash Royal, Esq., LL.M., MBA, is a private client services firm focused on individuals, their families, and their businesses. The firm practices in Trusts & Estates, Tax, and Business Law. We primarily serve entrepreneurs, founders, leaders, and multinationals with wealth preservation and family legacy protection strategies. Recognized for our leadership in the trusts & estates field, we also represent high and ultra-high net worth clients with wealth planning, business succession and tax planning in addition to multinational estate administration and probate. Our well-established tax advisory practice often counsels nonprofits and private foundations on compliance and tax issues. Our services are offered on a per engagement or retainer (ongoing advisory) basis.
Our women-powered law and immigrant and minority woman founded firm reflects the founder’s philosophy of collaboration, service, and support. The firm serves clients holistically and with standards of excellence while providing a supportive corporate culture for talent to thrive. Recognizing the power of networks and advisors in bridging the wealth gap, the firm uses an equitable pricing structure (EPS) with a discounted rate model to make increasingly sophisticated wealth preservation and protection legal services accessible to all, from startups to established CEOs and leadership at multinational organizations.
We incorporate additional skills and knowledge from our management and international backgrounds to effectively incorporate asset protection and business strategies, cross-border planning, philanthropic and charitable planning, and non-financial considerations, such as family dynamics and cultural issues into the wealth and tax strategy for our clients.
The Firm has also developed a community focused collaborative legal and financial services program, Community Family Offices (CFO), enabling it to work closely with a team of advisors in related fields combining the benefits of a family office model with the cost-effectiveness and independence of separate advisors.
The firm’s services include reasonably priced standard tax (capital gains, income tax planning tax allocations, basic retirement and benefits, etc), trusts and estates (will, living trust, power of attorney, etc.), and business law services (incorporation, standard contracts, partnership agreements, and more) targeted towards private clients and small businesses who do not yet have the resources to engage the customary sophisticated level of legal services provided by the firm. The transitional support based model supports the firm’s efforts to diversify the face of wealth across all communities.
Our founder brings her experience as a former IRS Estate Tax Attorney auditing the wealth planning and tax implications of some of the most sophisticated estate and gift transfers, in addition to working in large law firms with international matters, to the firm. Her multijurisdictional and international experience is especially insightful to multinational founders and entrepreneurs. Our hiring process is purposeful and our team is carefully selected and trained continuously to meet the rigorous legal and strategical experience and knowledge needs of the firm’s client base. The firm’s clients include ambitious founders and investors, professional families, young entrepreneurs, and rising stars, to established CEOs, retirees, and notable celebrities. We represent clients in a variety of industries, including food & beverage, hospitality, philanthropy, entertainment, technology, private equity, and government contracting.
With headquarters in Washington, DC, our dedicated government contracting practice is serviced by our counsel, Pawnee Davis, Esq., a former GAO senior official, and benefits from the additional tax structuring and planning services necessary for entrepreneurs establishing and scaling to meet the demands of becoming and being government contractors.
We also provide tax consulting services to other law firms and attorneys on client matters and 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
“Lack of access to proper planning and strategy advisors often separates those from wealthy families continuing legacies and those seeking to build a legacy. Employing timely asset protection, growth, and preservation strategies can protect and grow dynastic wealth and influence. The world would benefit more when brilliant minds focus on their unique contributions, whether through profitable or charitable efforts, instead of being distracted or limited by the minutiae of legal strategy and compliance needed 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, from the beginning and through every stage of growth.”
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.