James J Gallagher II

James J. Gallagher, II focuses on business and tax matters, estate planning, elder law, and trusts and estates. He advises individuals, families, business owners, and closely held companies on a broad range of legal and tax-related matters, including business formation, governance, succession planning, and wealth preservation strategies.

Jim counsels clients on Business Organizations (including LLCs and Partnerships), Closely Held Companies and Family Business Law, Tax Law, Elder Law, and Trusts and Estates matters. His business practice includes advising clients on the formation, operation, and management of Delaware entities, including the preparation of operating agreements, partnership agreements, stockholder agreements, and other governance documents. He also assists clients with the purchase and sale of businesses and assets, commercial agreements, employment-related contracts, and ownership transition planning.

Through his representation of physicians, physician groups, and healthcare-related businesses, Jim has developed substantial experience addressing federal and state healthcare regulatory compliance matters. He regularly advises healthcare industry clients on business structuring, tax considerations, mergers and acquisitions, and operational matters.

In his trusts and estates practice, Jim works with clients to develop estate plans tailored to their personal, family, and financial objectives. He assists with the preparation of wills, trusts, powers of attorney, healthcare directives, and related estate planning documents, while also advising on transfer tax planning, retirement plan coordination, charitable planning, and asset protection strategies. His practice also includes trust administration, estate administration, trust modifications, and the relocation of trusts to Delaware.

Recent Matters

• Developing estate plans that incorporate lifetime gifting strategies, transfer tax planning, limited liability companies, trusts, and other business entities
• Advising local, national, and international owners of closely held Delaware companies on business formation, management structure, tax planning, succession planning, and ownership transfers
• Counseling clients on federal and state income and employment tax matters arising from mergers, acquisitions, and business sale transactions
• Representing medical practices in mergers and acquisitions, hospital integration matters, regulatory compliance, and buy-sell arrangements
• Advising businesses on employment agreements, executive compensation arrangements, and restrictive covenant matters
• Assisting clients with the use of Delaware trusts in multigenerational wealth planning and asset protection planning
• Advising personal representatives and beneficiaries on estate and trust administration matters, including estate, gift, and income tax issues and post-mortem planning strategies
• Representing clients in tax controversy matters involving the Internal Revenue Service and the Delaware Division of Revenue
• Advising nonprofit organizations on governance matters and federal tax-exempt status applications