Richard A. Corleto
Primary Practice Areas
- Family Wealth and Estate Tax Planning
- Real Estate Transactions
- Corporate and Business Structure and Planning
- Personal, Corporate and Partnership Tax
Richard A. Corleto is a Partner in the firm and represents individual clients and businesses in a variety of practice areas, including estate tax and family wealth planning, real estate, personal, corporate and partnership planning and taxation, and business and corporate transactions.
Tax and Estate Planning
Mr. Corleto's tax and estate planning practice has a highly regarded reputation based on more than 40 years of experience in all aspects of tax planning for the local business person and entrepreneur, real estate investor, and highly compensated individuals, as well as a full range of estate and gift tax consultation and planning. When advising clients on the design and implementation of an appropriate estate plan, consideration is given to each client's desires and goals in light of his or her financial and personal family situation, and the impact of business and tax issues. He has extensive expertise in the implementation and drafting of intervivos (or "living") trusts, conventional wills, life insurance trusts, QPRTs, IDGTs and other estate and charitable planning arrangements. Mr. Corleto is the author of "The Use of Annuities in Estate Planning", appearing in J.K. Lasser's Estate Tax Techniques.
Mr. Corleto is also experienced in the formation and operation of nonprofit corporations and other entities and in working with and supervising accounting professionals in obtaining tax exempt status for such entities when required.
The real estate practice includes all aspects of transactional real estate law, including the acquisition, sale, financing, development and leasing of commercial, industrial and office projects, retail centers and multifamily residential projects located throughout the United States, including tax-deferred exchanges.
Corporate and Business Structure and Planning
Representation includes various businesses and entities, including corporations, partnerships, limited liability companies, individuals and investors. The scope of the services include advice and consultation in connection with entity formations and dissolutions; purchases and sales of businesses; mergers and acquisitions; federal, state and local tax planning, advice and advocacy; and general contract negotiations and drafting.
Mr. Corleto graduated in 1967 from the UCLA School of Management (now the Anderson School of Management) with a B.S. degree in Business Administration (Accounting), and a J.D. degree from the UCLA School of Law in 1970. He is a member of the State Bar of California, the Los Angeles County Bar Association, and is admitted to practice before state and federal courts in California, and the United States Tax Court. Mr. Corleto also served as President of Stephen S. Wise Temple from 2011-2013.