Dirk M. Simpson
Dirk partners with clients to create proactive, strategic plans that meet their individualized needs. He knows that his true value as an advisor comes from delving beneath the surface, asking the right questions, and listening carefully. As a result, Dirk maintains close ongoing relationships with many clients well beyond a particular project’s completion. He is frequently contacted as a go-to advisor to troubleshoot issues, and he is sometimes asked by clients to formalize his involvement as a member of the Board, a Trustee, or Trust Protector.
Dirk has been involved in tax and business planning for individuals, tax-exempt organizations and business relationships of all types.
- Pennsylvania, 1999
- New Jersey, 2000
- Villanova University, Villanova, PA, LL.M., 2003
- Villanova University, Villanova, PA, J.D., 1999
- Colgate University, Hamilton, NY, B.A., cum laude, 1996
Estate Planning and Tax-Exempt Organizations
- Drafted hundreds of individual estate plans and trusts addressing each client’s unique needs, including: planning for second marriages, asset protection, planning for incapacity, specials needs, and substance addictions.
- Designed and implemented a comprehensive wealth transfer program for a client utilizing a sale of appraised business assets and real estate holdings to an intentionally defective grantor trust with dynasty provisions.
- Assisted a business executive with the transfer of vested stock options at a low appraised value to a spousal lifetime access trust prior to FDA regulatory approval that lead to substantial valuation of the company stock.
- Successfully categorized over $30 million in various undocumented intra-family transfers into substantiated business demand notes and obtained an IRS Estate Closing Letter avoiding all estate, gift and generation-skipping transfer tax liabilities, penalties, and interest.
- Reformed an irrevocable trust with Orphan’s Court approval to become revocable as of formation to achieve Settlor’s tax objectives thereby avoiding a $2 million gift tax liability created by prior counsel’s negligence, the subject of a malpractice lawsuit.
- Obtained recognition of tax-exempt status as a 501(c)(3) organization for private foundations and organizations engaging in non-obvious charitable activities.
- Counseled a client who inherited a minority stake in a manufacturing company through a protracted dispute with majority owner ultimately resulting in a deadlock-breaking $11 million sale to private equity.
- Oversee various Orphan’s Court litigation matters handled by Kaplin Stewart commercial litigators specialized in matters of undue influence, will challenges, demands for accounting by fiduciaries, and defense of fiduciaries.
Business and Tax Planning
- Formed and prepared organizational and related documentation for a real estate entity with complicated capital structure.
- Designed and implemented a business succession plan allowing a key employee to acquire stock of a construction firm with complex related company shared services and bonding issues.
- Merged two IT firms to create rapidly expanding company providing technology solutions in the pharma, biomedical, and healthcare industries, and prepared and negotiated technology service and development agreements, licenses, statements of work, work orders, and related documentation with industry-leading companies.
- Helped a non-profit medical research institution located at Temple University expand its operations by completing over $8 million in various physical infrastructure projects financed through grant programs administered by the Pennsylvania Office of the Budget and in working partnerships with Temple University (on-campus laboratory build-out and future Science Innovation and Technology HUB), the University City Science Center (commercial laboratory), and Beech Interplex, Inc. (off-campus student housing).
- “Integrated Estate, Financial and Asset Protection Planning”, Pennsylvania Institute of Certified Public Accountants
- “The Best Estate and Financial Planning Topics”, New York State Society of CPAs
- “Applying Integrated Estate, Financial and Asset Protection Planning”, Virginia Society of Certified Public Accounts