Richard H. Schloss
Richard H. Schloss is a former agent for the Internal Revenue Service. That experience, coupled with an economics degree and a public accounting background, provides Mr. Schloss with a wealth of knowledge and insight to draw upon in structuring complex business transactions to avoid the many pitfalls of the increasingly complex tax laws. Mr. Schloss is known as a strong advocate for the Firm's clients. Mr. Schloss is a graduate of the University of Michigan with a major in economics and accounting and Detroit College of Law and is a member of the Michigan and American Bar Associations. In addition to specializing in tax matters, including representation before the Internal Revenue Service and the Michigan Department of Treasury, both with regard to examinations and collection matters, he provides legal services in the areas of forming, purchasing and selling of businesses, real estate, sophisticated estate and business succession planning, probate, estate and trust administration. Mr. Schloss frequently lectures for the Institute of Continuing Legal Education and professional groups.
- Named as a FIVE STAR Wealth Manager as an estate and financial planning attorney by HOUR Detroit Magazine in its June, 2010, 2011 and 2012 issues as well as Dbusiness Magazine. This is an elite group of 686 of the top scoring wealth managers from a universe of more than 11,000 in the metropolitan Detroit area.
- Successfully prosecuted and settled widow's dispute over her husband's one hundred million dollar estate against her step-sons.
- Resolved longest running estate dispute in Oakland County, Michigan's history to advantage of client.
Counseled and prepared comprehensive estate plans for a myriad of high net worth individuals and business owners including devising succession plans for the business owners.
- Represented owner of largest mortgage forms business in the Country in the negotiation and sale to a public company.
- Represented sellers of large physical rehabilitation business to a public company.
- Represented numerous buyers and sellers of local businesses with private and public parties, including wholesale bakery supplier, printing and packaging companies, advertising specialties company, automotive supplier, technology company, plating company, jeweler, restaurants, pharmacy (both wholesale and retail), automotive collision shop, automotive wheel and tire company, mortgage company, and on-line real estate company.
- Represented seller in potential sale of national drug store chain.
- Represented and counseled physicians and other medical professionals in admitting employees and shareholders and in the acquisitions and sales of their practices with private parties and hospitals.
- Represented buyers and sellers of real estate and developers of apartments, shopping centers and residential subdivisions throughout Michigan and the Country.
- Utilizing experience as an Internal Revenue Agent, successfully represented countless taxpayers in disputes with the Internal Revenue Service and State of Michigan over tax issues and collection of outstanding tax liabilities including resolving $8 million gift tax assessment in favor of the client.
- Represented large foreign auto supplier in acquisition of interest in U.S. Company.
Areas of Practice
- Corporation Law
- Mergers & Acquisitions
- Federal Income, Estate and Gift Taxation Law
- Estate Planning
- Probate, Estate, and Trust Administration
- Tax Planning
- Formation and Business Planning for Business Organizations
- Representation before the Internal Revenue Service and State Taxing Authorities
- Michigan, 1973
- U.S. District Court Eastern District of Michigan, 1973
- U.S. Tax Court, 1974
- Detroit College of Law, Detroit, Michigan
- J.D. - 1973
- University of Michigan, Ann Arbor, Michigan
- B.A. - 1968
- Tarus Products, Inc.
- Macomb Printing, Inc.
- Prefix Corporation
- Associated Dealers Services, LLC
- Synergy Computer Solutions, Inc.
- Preparation of Federal Estate Tax Returns, MACPA
- Preparation of Federal Estate Tax Returns, ICLE
- Negotiating Essential Provisions of LLC Operating Agreements, ICLE Homeward Bound Seminars
- Partnerships and Limited Liability Companies in Michigan, Lorman Education Services, 2002 - 2003
Professional Associations and Memberships
- American Bar Association
Past Employment Positions
- Weisman Young Schloss & Ruemenapp, P.C., Shareholder, 1982 - 2008