Carmen Irizarry-Diaz focuses her practice on sophisticated income, gift, estate, charitable, and business preservation and succession planning for U.S. and international individuals and families. She has experience in the tax reporting and disclosure of transactions, as well as representing clients before the Internal Revenue Service (IRS) and other tax authorities.
Prior to joining the firm, she served as Attorney-Advisor to Judge Jules G. Korner, III, of the United States Tax Court. She is a frequent speaker on estate planning topics and the author of many articles that have appeared in leading tax publications. As part of her practice, Carmen routinely structures transactions to meet clients' goals and achieve optimal tax results. She drafts implementing documents such as powers of attorney, advance medical directives, wills and revocable and irrevocable trusts, including credit shelter or exemption, pour over, disclaimer, generation-skipping transfer (GST), life insurance (ILIT), qualified domestic (QDOT), qualified terminable interest property (QTIP), qualified personal residence (QPRT), and grantor retained annuity trusts (GRAT). Carmen also probates estates and administers trusts, prepares gift and estate tax returns and advices on related issues.
Carmen's charitable planning practice encompasses the creation, administration, and dissolution of public charities, private foundations, and lifetime and testamentary charitable trusts, including grantor and non-grantor charitable lead annuity trusts (CLAT), charitable lead unitrusts (CLUT), charitable remainder annuity trusts (CRAT), and charitable remainder unitrusts (CRUT).
Areas of Concentration
•Complex domestic and international income, gift, and estate planning
•Nontraditional couples and families
Awards & Recognition
•Rated, AV Preeminent 5.0 out of 5 AV, BV, AV Preeminent and BV Distinguished are registered certification marks of Reed Elsevier Properties Inc., used under in accordance with the Martindale-Hubbell certification procedures, standards and policies.
Articles, Publications, & Lectures
• Author, Rev. Rul. 2007-13: IRS Rules on Transfer for Value Aspect of Sales of Life Insurance Contracts to Grantor Trust, Management Memorandum Vol. 48, No. 14, Advisory Board Analysis, pp. 259-267, July 9, 2007
•Author, Should You Be Filing a Federal Gift Tax Return for Gifts Made in 2006 April 6, 2007
•Author, Should You Be Filing a Federal Gift Tax Return for Gifts You Made in 2005 April 10, 2006
•Author, Federal Estate Tax Exemption Amounts and Rates are Changing - So Do I Need to Change My Will December 10, 2005
•Author, Tax Considerations in the Choice of Trustees, Tax Management Memorandum, Vol. 45. No. 15, Advisory Board Analysis, pp. 283-298, July 26, 2004
•Author, The Good News, Bad News of Changes to Federal Transfer Tax, New York Law Journal, March 1, 2004
•Author, Shifting Future for Estate Taxes, National Law Journal, March 1, 2004
•Author, Federal Estate Tax Exemption Amounts and Rates are Changing, January 13, 2004
•Author, Automatic Allocation of GST Exemption Rules in the Economic Growth and Tax Relief Reconciliation Act of 2001, April 28, 2002
•Author, Effective Use of the Election to Split Gifts, Tax Management Estate, Gifts and Trusts Journal, Vol. 26, No. 6, November 8, 2001
•Author, How Defective Is Your Trust Suggestions on Structuring an Intentionally Defective Grantor Trust, Tax Management Memorandum, Vol. 41, No. 13, Advisory Board Analysis, pp. 231-243, June 19, 2000
•Author, Lifetime QTIP Trusts: A Valuable Estate Planning Tool, Tax Management Memorandum, Vol. 36, No. 14, pp. 203-208, July 10, 1995
•Author, Amortization of FCC Broadcast Licenses, Tax Management Memorandum, Vol. 34, No. 23, pp. 343-350, November 15, 1993
•Author, Final Partnership Disguised Sale Regulations Under Section 707(a)(2), Tax Management Memorandum, Vol. 34, No. 3, Advisory Board Analysis, pp. 31-42, February 8, 1993
•Author, Aizawa v. Comr., 99 T.C. No. 10 (8/6/92) - The 'Amount Realized' on the Foreclosure Sale of Property Subject to a Recourse Mortgage, Tax Management Memorandum, Vol. 33 No. 26, pp. 381-386, December 28, 1992
•Author, Creation of Section-456 At Risk Liability Through Sales and Leasebacks - Emershaw v. Commissioner, 949 F.2d 851 (6th Cir. 1991), Tax Management Memorandum, Vol. 33 No. 7, pp. 99-105, April 6, 1992
•Co-Speaker, Teachings from the 43rd Annual Heckerling Institute on Estate Planning, National Capital Chapter of the Society of Financial Service Professionals, McLean, VA, February 10, 2009
•Speaker, Practical Gift-Tax Return Preparation, Montgomery County Bar Association, October 4, 2006 (Also at Washington, D.C. Office)