Terry L. Simmons
Practice Description
Terry L. Simmons focuses his practice on charitable gift planning, exempt organizations law, and estate planning matters. He represents individuals, exempt organizations, and for-profit entities in complex domestic and international transactions involving non-profit/for-profit interaction, including issues related to securities and banking, intermediate sanctions, unrelated business taxable income, and unrelated debt-financed income.
Mr. Simmons assists in the formation and representation of private foundations, supporting organizations, and all other public charities. He also provides counseling on the formation and representation of other non-charity exempt organizations including social welfare organizations, trade organizations, and political entities.
Representative Matters
- Represented a leading financial services organization and pension system for educators and researchers in issues relating to planned giving arising in the organization's proprietary trust company
- Represented a principal in an NYSE mutual fund company in tax and exempt organization issues relating to a new technique of facilitating gifts of debt-encumbered real estate to charities and charitable remainder trusts; representation included obtaining a favorable IRS private letter ruling on the process (patent pending)
- Represented a for-profit entity in the creation of an Internet-based community foundation exclusively dedicated to the real-time processing of gifts of stock and other securities; obtained an exemption ruling from the IRS
- Represented an owner of $200 million dollars of voting stock in an NYSE company in the creation of a complex, multi-purpose supporting organization as target entity for receiving a gift of the stock; obtained an IRS determination letter
- Representation of and joint development with a client corporation of an internet-based estate-planning system (patent pending)
Distinctions/Honors
- Top 100 Attorneys in America, Worth Magazine; 2005
- The Best Lawyers in America (Trusts and Estates); 2004-2006
Interests
CONCEIVED OF AND PRINCIPAL LOBBYIST FOR
The Charitable Giving Protection Act of 1995 amending the Sherman Antitrust Act
The Philanthropy Protection Act of 1995, amending the Investment Company Act of 1940, the Securities Act of 1933, and the Securities Exchange Act of 1934
The Charitable Donations Antitrust Act of 1997 amending the Sherman Antitrust Act
Presentations/Publications
- Publisher and co-editor of Charitable Gift Planning News, a monthly national newsletter for attorneys, accountants, planned giving officers, life underwriters and financial planners covering the planned giving field, Monthly
- North Texas Chapter of NCPG, Doubletree Campbell Center, Dallas, Texas, scheduled for September 11, 2007
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