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Richard A. Smolen is an attorney and manages a family office for Tekloc Enterprises LLC in Newtown Square, Pennsylvania, where he focuses on tax planning, charitable planning, estate planning, and employee benefit issues. He also performs employee benefits, charitable giving, and tax planning consulting services for Teasmo Consulting LLC. He has represented businesses and individuals in matters such as correcting retirement plan administration errors under IRS and DOL correction programs, preparing 401(k) and 403(b) plan documents; counseling clients on ERISA requirements, preparing and reviewing Forms 5500 and 5300; counseling clients on employee benefits issues in mergers and acquisitions and in bankruptcy; and representing plan fiduciaries in DOL investigations.
He has advised individuals on the use of complex estate tax and charitable planning techniques, such as grantor retained annuity trusts, qualified personal residence trusts, intentionally defective grantor trusts, family limited partnerships, charitable remainder unitrusts, charitable lead annuity trusts, charitable gift annuities and donor advised funds. He has formed, managed, and recommended governance structures for non-profit organizations, and has regularly filed applications for tax exemption with the IRS. He regularly prepares and reviews federal, state, and local tax filings on behalf of individuals, businesses, trusts, estates, and charities.
He is an adjunct professor of law at Temple University James E. Beasley School of Law and at Villanova University Charles Widger School of Law. Mr. Smolen works with the Philadelphia Volunteer Lawyers for the Arts to provide governance and strategic planning services for representing local arts organizations. He is a member of the Philadelphia Bar Association, Young Lawyers Division Tax-Exempt Group, and the Young Lawyers Division Employee Benefits and Executive Compensation Group. Mr. Smolen received his B.A. from the University of Pennsylvania, his J.D. degree from Temple University James E. Beasley School of Law, his M.B.A. degree from Temple University Fox School of Business and Management, and his LL.M. degree (Taxation), with distinction, from James E. Beasley School of Law. He is admitted to practice law in Pennsylvania and New Jersey.