George M. Riter joined Timoney Knox as a partner in 2001 and served as managing partner from July 2007 through June 2018. His practice of trust, estate and corporate law focuses on the estate planning needs of individuals, families, business owners, individuals with special needs and non-profit entities and foundations.
For estate planning clients, Mr. Riter’s practice is devoted to evaluating, understanding and addressing all of the client’s needs. His approach is to thoroughly review each client’s unique situation, including the family dynamics, and to assist the client with analyzing assets, managing liabilities and reducing exposure to inheritance and estate taxes.
Mr. Riter has extensive experience in trust and estate planning and administration. He is often called upon to analyze life insurance and structure the proper ownership as well as creditor protection and charitable planning both during and after a client’s life. Mr. Riter has advised clients and non-profit entities on gifting options and the establishment of and operation of charitable trusts, corporate affairs, and public and private foundations. Even in the current federal estate tax environment, with fewer estates subject to federal estate tax liability, the need for proper planning has not diminished but taken on a different focus.
Mr. Riter also has extensive experience in corporate and business law, working with individuals establishing business entities, as well as established companies of all sizes, from small, closely-held businesses to multi-million dollar companies. He advises individuals and corporations on ongoing tax-related matters, including the appropriate way to take title or purchase assets or property, as well as merger and acquisition-related issues.Mr. Riter has developed a substantial practice helping plan for future needs of family members with special needs in the form of physical and mental disabilities and the recovery of damages from personal injury litigation.
Mr. Riter received a bachelor’s degree in biology from Gettysburg College, in 1980 and earned his law degree from St. Mary’s University School of Law, San Antonio, Texas in 1983, where he was an editor of the Law Review. Mr. Riter also received a masters in taxation from Villanova University School of Law, Villanova, Pennsylvania, in 1991.Mr. Riter is a member of the American Bar Association, Tax and Probate Sections, as well as the Montgomery County Bar Association, Philadelphia Bar Association, Pennsylvania Bar Association, Philadelphia Estate Planning Council and Montgomery County Estate Planning Council. He frequently attends the nationally renowned University of Miami Heckerling Estate Planning Institute which focuses on complex tax and estate planning.
A life-long resident of the Philadelphia area, he graduated from Germantown Academy in 1976 and has continued to serve as a class agent, member of various Board Committees and as a member of the Board of Trustees from 2004-2013, and has served as an Officer since 2010 and as Secretary in 2013. He has also served on the Board of Trustees of The Schuylkill Center for Environmental Education in the Roxborough section of the City of Philadelphia. The Schuylkill Center is the largest urban environmental center in the country, consisting of approximately 350 acres. Mr. Riter served as Vice-Chairman for 2001-2003 and Chairman of the Board of Trustees from 2003 to 2005.
Mr. Riter has lectured frequently on topics pertaining to estate planning, including succession planning for business owners, choice of entity issues for individuals starting or running companies or corporations, including the use of limited partnerships (including family limited partnerships), limited liability companies, trusts, real estate trusts and other appropriate tools to assist families in the efficient management and transfer of wealth from one generation to another. He has lectured before the Montgomery County Estate Planning Council, Montgomery and Bucks Counties Chartered Life Underwriters and for the Pennsylvania Bar Institute (PBI). He authored and participated in a seminar entitled “Birth Trauma Medical Malpractice,” focusing on special needs trusts. Mr. Riter has also lectured for the PBI regarding Orphans’ Court developments.As published in Philadelphia Magazine, Mr. Riter has been recognized as a Pennsylvania Super Lawyer since 2006 by being selected by his peers as among the top 5% of lawyers in the Commonwealth and was named the Best Lawyers® in Trusts and Estates for 2019.