Edward F. Koren

Adjunct Professor of Law at University of Miami - School of Law

Edward F. Koren

Edward F. Koren

Adjunct Professor of Law at University of Miami - School of Law

Biography

Eward Koren
Holland & Knight


Edward F. Koren is the leader of Holland & Knight's Private Wealth Services Group. Mr. Koren's practice is focused on wealth planning and protection for entrepreneurs and multi-generational business owners. He serves clients across the country and practices principally in the firm's Tampa and Lakeland offices. The firm's Private Wealth Services Group is the largest group of trusts and estates lawyers in the United States, with more Fellows in the American College of Trust & Estate Counsel than any other law firm in the country.

Mr. Koren is past chair of the American Bar Association's Real Property, Probate and Trust Law Section; former American College of Trust and Estate Counsel Regent and past chair of its Estate and Gift Tax Committee; and the author of Estate and Personal Financial Planning, a five-volume treatise published by Thomson West that covers planning concepts for asset accumulation and transfer throughout life and through inheritance.

He is a Florida Board Certified Wills, Trusts and Estates Lawyer and is a National Association of Estate Planners & Councils-Accredited Estate Planner® who has received the highest rating assigned by Martindale-Hubbell.

Custom-Planned Complex Structures for High-Net-Worth Families. Estate planning for high-net-worth families is both challenging and rewarding. Each family requires customized solutions, because their needs and goals are unique. A plan tailored to one family's particular source of wealth and individual familial issues will be totally inappropriate for another that has different relational challenges, business considerations or planning needs.

Mr. Koren works continually with families and their advisors to devise and implement comprehensive plans that match and adjust to each family's distinct attributes. Additionally, he often serves as a resource for the family office managers to ensure that they understand and are prepared to carry out the routine administration of the plan. These are the hallmarks of a successful planning approach for the high-net-worth family.

Planning for Entrepreneurs. The entrepreneur's approach to wealth creation reflects an appreciation of risk and reward; however, they often need encouragement to focus on longer-term issues or critical details that are required for the implementation of an appropriate estate plan. At the same time, entrepreneurs often appreciate "cutting edge" planning techniques, because they are attuned to judging their risk and reward attributes and how they will apply to their situation. A significant majority of Mr. Koren's clients are entrepreneurs, each with a different set of issues and goals, requiring specific and unique planning, often with multiple options for the client to select.

Business Succession Planning. Succession planning requires more than traditional estate planning tools. It often involves the creation of business structures, while also addressing family relationship issues that affect both current and long-range aspects of the business operation and family bonds. As with any estate plan, how assets are to be distributed and who is to administer the owner’s estate must be determined. As the advisor to owners of family businesses, Mr. Koren provides guidance on the transfer of the business to succeeding generations by raising a number of difficult issues:

How (or whether) the business is to continue after the owner’s death
How to separate and reward sweat equity from family equity
How to identify and train successors
How to deal with what may be significant liability for estate taxes

Mr. Koren knows that as an estate planner he must anticipate not only the elements affecting any business – market, economic and competitive issues, among others – but also how the interfamily relationships and related concerns impact the business.

Many planners focus only on the tax consequences when advising the family business owner on estate planning issues, but those are often resolved relatively easily by using available planning tools. Business succession planning, on the other hand, is very fact specific. With this understanding, Mr. Koren also acts as a counselor to assist the owner in the development of a plan, working with a variety of advisors who can bring their expertise on issues impacting management and ownership succession, family jealousies and rivalries, and general business concerns. This is where truly difficult issues arise, including not only the identity of the leadership of the next generation, but how to make the transfer and how to balance family issues with those affecting the business. Mr. Koren applies his experience and knowledge to design an effective succession plan to ensure that the business owner’s estate plan complements the business succession plan.

Representation of Fiduciaries. As the investment world has become more complicated, the law has evolved to recognize the new challenges. The standards by which a trustee's performance is evaluated have changed as well, so that almost every jurisdiction now has some version of the Prudent Investor Rule, by which trustees' investments are measured. Mr. Koren often works with fiduciaries to focus on the investment process that is required by the Prudent Investor Rule. In addition, as Chair of the committee of The Florida Bar that drafted Florida's Principal and Income law, he often advises trustees on the law's application to specific situations that arise during the administration of a trust.

Tax Controversies. Planning for high-net-worth families inevitably involves controversies, ranging from the valuation of assets that are the subject of transfer during life or death, to the structure and effectiveness of planning tools that may be used to implement a client's plan, and the nature and amount of various deductions, including those for charitable transfers. These controversies begin with an audit of the estate or gift tax return, which often is triggered merely by the size of the transaction or estate. Mr. Koren has handled a multitude of such audits, generally resolving them favorably for the taxpayer at the audit level. Where that is not possible, he typically is able to resolve the matter through the IRS appeals process. In the rare instances when a favorable result cannot be achieved at that level and it is necessary to resort to litigation, Mr. Koren represents clients through the litigation process – generally in the U.S. Tax Court, although refund litigation is sometimes preferable in either the U.S. District Court or the U.S. Court of Federal Claims.

Marital Agreements. All marriages terminate – either through dissolution or the death of one spouse. Often, wealthy families seek to minimize the controversies that can arise in these situations through the use of pre- or post-marital agreements. Mr. Koren has extensive experience in developing effective agreements that involve both the financial and family situation, particularly if a family business is involved where the business and tax planning aspects of these agreements are even more important. Opportunities for careful tax planning – based on each client's assets and family circumstances – can be comprehensive or limited to specific assets, such as the family business, inherited assets, or assets with special tax and business considerations, i.e., stock options and carried interest. Mr. Koren consults often with matrimonial attorneys in these circumstances to achieve tax-efficient solutions.

Mr. Koren has written numerous articles and chapters in publications pertaining to trusts, estates, individual taxation and estate planning and administration, and speaks regularly at seminars sponsored by national and regional professional organizations, including the University of Miami Heckerling Estate Planning Institute, Southern Federal Tax Institute, the American and Florida Bar Associations, the American College of Trust and Estate Counsel, ALI/ABA, PLI, the American Association of Attorney/CPAs, NYU Institute on Federal Wealth Transfer Taxation and numerous estate planning councils throughout the Southeast.

He was executive editor of the University of Florida Law Review. He served as an adjunct professor of law at the University of Florida in 1996, where he taught a graduate course in estate planning in the LL.M program, and is now serving in that role at the University of Miami, having taught a course on valuation in the LL.M. Program in Estate Planning for the past dozen years.
Honors & Awards

The Best Lawyers in America guide, Closely Held Companies and Family Business Law; Trusts and Estates; Tax Law; Litigation - Trusts & Estates; Litigation & Controversy - Tax, 1987-2013
The Best Lawyers in America guide, Tampa Litigation - Trusts & Estates Lawyer of the Year, 2013
Chambers USA – America's Leading Business Lawyers guide, Tax Estate Planning; Wealth Management: Eastern Region, 2007-2013
Holland & Knight's Chesterfield Smith Award, 2012
National Association of Estate Planners and Counsels Hall of Fame, inducted 2010
Distinguished Accredited Estate Planner, National Association of Estate Planners and Counsels, 2010
Top 100 Attorney, Worth Magazine, 2005, 2006, 2009
Florida Super Lawyers magazine, 2006-2013
Florida Legal Elite, Florida Trend magazine
The Florida Bar, Gerald T. Hart Outstanding Tax Attorney, 2002-2003
The Florida Bar, Real Property and Trust Law Section, Robert C. Scott Memorial Award, 1991
Who's Who in American Law
Who's Who In America
Who's Who in the World

Memberships

American Bar Association, Transfer Task Force of the Real Property, Trust & Estate Law Section, Chair
American Bar Association, Real Property, Probate and Trust Law Section, Chair, 2004-2005
American College of Trust and Estate Counsel, Estate and Gift Tax Committee, Past Chair and Regent
American College of Tax Counsel, Fellow
The Florida Bar, Tax Section, Chair, 1990-1991
The Florida Bar, Real Property, Probate and Trust Law Section, Chair, 1988-1989
National Conference of Attorneys and Corporate Fiduciaries, 1999-present
Community Foundation, Tampa Bay Leadership Counsel
Florida Bar Principal & Income Committee Chair, 2000-present
American Bar Foundation, Fellow
American Law Institute
Tampa Bay Estate Planning Council


Practices

Private Wealth Services
Wealth Planning and Preservation
Private Companies
Tax Controversy and Litigation
Insurance Transactions and Regulatory
Insurance Disputes - Insurers
Insurance Disputes - Policyholders

Education

University of Florida Levin College of Law, J.D., with high honors
University of Florida, B.S.B.A., Accounting

Bar Admissions

Florida

Court Admissions

U.S. Supreme Court
U.S. Tax Court
U.S. Court of Federal Claims
U.S. Court of Appeals for the Eleventh Circuit
U.S. District Court for the Middle District of Florida

Private Wealth Services: created dynasty trusts for three descendants of a well-known wealth management company’s founder, and exercised the family’s option to purchase stock in the company that was being sold by an entity outside the family, allowing the stock to be family-held by future generations


The American Taxpayer Relief Act of 2012: What It Means for You
Holland & Knight Alert, January 4, 2013
Principal & Income Act Updated
Co-Author, ActionLine, Winter 2013
Estate Planning in 2011 and 2012: Opening the Window of Opportunity
Daily Tax Report, January 20, 2011
Important Estate, Gift and Generation-Skipping Provisions of the Tax Relief Act: Several December 31, 2010 Deadlines to Consider
Holland & Knight Alert, December 20, 2010
Why is succession planning for family business so difficult?
Worth Magazine, April 20, 2010
Formula Clauses: Hedging Value And Legislative Risks
Tax Notes, March 15, 2010
Estate and Personal Financial Planning
a five-volume treatise (1988 - present), Thomson-West, December 31, 2009
Post-Mortem Access To Funds From Closely Held Business Interests
The Practical Tax Lawyer, October 1, 2009
Select Task Force Issues Extensive Report on Transfer Tax Reform
Holland & Knight Newsletter, April 6, 2005
Holland & Knight Announces Creation of Private Wealth Services Section
Holland & Knight Newsletter, Summer 2003
Estate and Elder Law Advisor
March 1, 2000
Estate and Personal Financial Planning
February 1, 2000
Florida Wills & Trusts
November 1, 1999



Importance of Income Taxes in Estate Planning is Greatly Enhanced by ATRA and IRC Section 1411
National Conference of Lawyers & Corporate Fiduciaries, June 7, 2013
Non-Tax Issues in Business Succession Planning
ABA Section of Real Property, Trust and Estate Law Teleconference, September 20, 2012
American Bar Association Joint Fall CLE Meeting
Defined Value Clauses - How Simple Can They Be After Wandry?, September 13-15, 2012
ABA Section of Real Property, Trust & Estate Law Annual Spring Symposia
Planning for Baby Boomers, April 28, 2011
The Estate Tax – What is Going On and What to Do Before 2011 (or, Wandering Through Alice’s World)
Chair, ABA National Teleconference, December 16, 2010
Defined Valuation Clauses: The Taxpayer Wins a Few
59th Tulane Tax Institute, New Orleans, LA, November 5, 2010
The Estate Tax - What is Going On? (Or, Wandering Through Alice's World)
Florida Legal Education Association Seminar - The Probate Team 2010, October 22, 2010
The Final Years: Liquidity Issues At and After Death. The tax man cometh!
ABA Section of Real Property, Trust & Estate Law Annual Spring Symposia, Philadelphia, PA, May 6, 2010
Exit Strategies from Leveraged Planning Techniques with GRATs, QPRTs and IDITs
NAEPC 46th Annual Conference, Amelia Island, FL, November 11-13, 2009
Planning with Underwater Estate Planning Strategies (GRATs, Installment Sales, etc.)
ABA Joint Meeting, Chicago, IL, September 25, 2009
Non-Tax Considerations in Business Succession Planning
National Trust Closely Held Business Association, Austin, TX, September 1, 2009
Valuation in a Primer on the Second Rink of Controversy in the Transfer Tax Arena
Heckerling Institute, January 15, 2009
WEDU's 3rd Annual Estate Planning Seminar
Exit Strategies from Leveraged Gifting Transactions, September 25, 2008
ABA 2008 RPTE 19th Annual Spring Symposia Young Lawyer Institute
Life Insurance Planning for Closely Held Businesses, May 1, 2008
Valuation – What to Look for in a Business Valuation Report
ABA Teleconference, March 4, 2008
Incentive Trusts
American Bankers Association, March 2008
Incentive Trusts and Beyond: Settlors' Intent and the Fiduciary Conundrum
ABA Wealth Management and Trust Conference, San Francisco, March 13, 2009



Case Studies
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News
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Overview
RelSci Relationships

1669

Number of Boards

4

Number of Awards

4

Relationships
RelSci Relationships are individuals Edward F. Koren likely has professional access to. A relationship does not necessarily indicate a personal connection.

Shareholder at Greenberg Traurig LLP

Relationship likelihood: Strong

Former Of Counsel at Akerman LLP

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President-Elect & Member-Governors Board at Florida Bar Association

Relationship likelihood: Strong

Partner at Rossway Swan Tierney Barry Lacey & Oliver

Relationship likelihood: Strong

President & Chief Executive Officer at The Community Foundation of Tampa Bay, Inc.

Relationship likelihood: Strong

Member, Leadership Council at The Community Foundation of Tampa Bay, Inc.

Relationship likelihood: Strong

Director at Frank and Carol Morsani Foundation, Inc.

Relationship likelihood: Strong

Member, Leadership Council at The Community Foundation of Tampa Bay, Inc.

Relationship likelihood: Strong

Co-Founder at U.S. Home Corporation

Relationship likelihood: Strong

Secretary, Treasurer, Director at Reilly, Fisher & Solomon, P.A.

Relationship likelihood: Strong

Paths to Edward F. Koren
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You
Edward F. Koren
Adjunct Professor of Law at University of Miami - School of Law
Education
J.D., with High Honors

The mission of the University of Florida Fredric G. Levin College of Law is to achieve excellence in educating professionals, advancing legal scholarship, serving the public, and fostering justice. We aspire to prepare lawyers to serve their clients, the justice system, and the public with a high level of accomplishment and a commitment to the highest ideals of the legal profession. We strive to provide students with a well-rounded legal education. Our curriculum is designed to teach students about the law and to help them develop the skills necessary to use that knowledge in practice. Our goal is for our graduates to possess the core competencies essential to embark on the practice of law.

B.S.B.A., Accounting

The University of Florida (commonly referred to as Florida or UF) is an American public land-grant, sea-grant, and space-grant research university located on a 2,000-acre (8.1 km2) campus in Gainesville, Florida. It is a senior member of the State University System of Florida and traces its historical origins to 1853, and has operated continuously on its present Gainesville campus since September 1906. The University of Florida is ranked 14th overall among all public national universities in the 2014 U.S. News & World Report rankings, and has ranked within the top 100 universities worldwide. The University of Florida was also described as a "Public Ivy" in the book The Public Ivies: America's Flagship Public Universities.

Memberships
Member
Current

The American Law Institute is the leading independent organization in the United States producing scholarly work to clarify, modernize, and improve the law. ALI drafts, discusses, revises, and publishes Restatements of the Law, Model Codes, and Principles of Law that are enormously influential in the courts and legislatures, as well as in legal scholarship and education.

Fellow
Current

TO EXPAND KNOWLEDGE AND ADVANCE JUSTICE THROUGH INNOVATIVE, INTERDISCIPLINARY, AND RIGOROUS EMPIRICAL RESEARCH ON THE LAW.

Fellow

The American College of Tax Counsel is a professional association of tax attorneys. Formed in 1981, membership in the American College of Tax Counsel is limited to a maximum of 700 tax attorneys across the United States

Career History
Adjunct Professor of Law
Current

The University of Miami School of Law, founded in 1926, is the law school of the University of Miami, located in Coral Gables, Florida, in the United States. The school graduated its first class of 13 students in 1929. The University of Miami School of Law also offers extensive "Public Interest Programs" and opportunities, including the "Center for Ethics and Public Service" that offers in-house clinics and educational programs including the "Children and Youth Law Clinic", "Health and Elder Law Clinic", and "Corporate & Professional Responsibility Program". The HOPE Public Interest Resource Center at the University of Miami School of Law gives students the opportunity to get involved in over 25 different projects each year, reaching various underserved and at-risk populations locally, nationally, and abroad.The University of Miami School of Law is located on the main campus of the University of Miami in Coral Gables, just six miles southeast of Miami, the 7th largest metropolitan area in the nation. The School of Law is centered around a central courtyard called the "Bricks." The Law Library has a collection of over 600,000 volumes in print and microform, and subscribes to a large and ever-expanding list of electronic resources.

Adjunct Professor of Law
1996 - Prior

The mission of the University of Florida Fredric G. Levin College of Law is to achieve excellence in educating professionals, advancing legal scholarship, serving the public, and fostering justice. We aspire to prepare lawyers to serve their clients, the justice system, and the public with a high level of accomplishment and a commitment to the highest ideals of the legal profession. We strive to provide students with a well-rounded legal education. Our curriculum is designed to teach students about the law and to help them develop the skills necessary to use that knowledge in practice. Our goal is for our graduates to possess the core competencies essential to embark on the practice of law.

Boards & Committees
Regent
Prior

The American College of Trust and Estate Counsel (ACTEC) is a nonprofit association of lawyers established in 1949. Its members are elected to the College by demonstrating the highest level of integrity, commitment to the profession, competence and experience as trust and estate counselors. All ACTEC members have made substantial contributions to the field of trusts and estates law through writing, teaching and bar leadership activities. The members work together in a collegial manner to • Enhance their ability to provide the most efficient and highest quality services to their clients; • Develop qualified trust and estate counselors; • Improve and reform probate, trust and tax laws, procedures, and standards of professional responsibility; and • Cooperate with bar associations and other organizations with similar missions.

Non-Profit Donations & Grants

Learn how non-profit organizations benefit from RelSci
$1,000 +
2019

The Florida Bar Foundation, Inc. provides judicial services. It funds programs that expand representation and advocacy on behalf of low-income persons in civil legal matters, administration of justice and promote legal services to public. The company was founded in 1956 and is headquartered in Maitland, FL.

$2,000 - $4,999
2018

The Florida Bar Foundation, Inc. provides judicial services. It funds programs that expand representation and advocacy on behalf of low-income persons in civil legal matters, administration of justice and promote legal services to public. The company was founded in 1956 and is headquartered in Maitland, FL.

$250 - $4,999
2018

TO EXPAND KNOWLEDGE AND ADVANCE JUSTICE THROUGH INNOVATIVE, INTERDISCIPLINARY, AND RIGOROUS EMPIRICAL RESEARCH ON THE LAW.

Political Donations
$166
2016

The Center for Effective Government was founded as OMB Watch in 1983, with the main focus of shining a light on the Office of Management and Budget (OMB). The organization changed it name in January 2013 to reflect its expanded work and new focus: an effective government that reflects the needs and priorities of the American people, as defined by an informed, engaged citizenry.

$166
2015

The Center for Effective Government was founded as OMB Watch in 1983, with the main focus of shining a light on the Office of Management and Budget (OMB). The organization changed it name in January 2013 to reflect its expanded work and new focus: an effective government that reflects the needs and priorities of the American people, as defined by an informed, engaged citizenry.

$250
2015

Founder at Brighter Future Florida, Inc.

Awards & Honors
Court Admission: US Court of Appeals, Eleventh Circuit
Admitted to the Florida Bar
Court Admission: U.S. Supreme Court
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