Vcard
PDFPracticing with Willcox Savage since 1989, David focuses on the areas of tax-exempt organizations, employee benefits/executive compensation, and estate planning.
David has provided a range of advice to nonprofits including a behavioral health care living community for youth, a tax-exempt business league, a national sports organization and area community foundations. David's work in the benefits/compensation area has included problem resolution and compliance assistance for employer retirement plans, including 403(b) plans, employee stock ownership plans, public defined benefit retirement systems, cafeteria plans, and various executive and rank-and-file life insurance programs. He has addressed special benefits/compensation issues for tax-exempt organizations and government entities, including Westminster-Canterbury on Chesapeake Bay, the Norfolk Community Services Board and the Cities of Norfolk and Portsmouth.
Practice Areas
-
- J.D., Harvard University, cum laude, 1988
- B.A., University of Virginia, 1985
Education
- Virginia State Bar
- Norfolk Portsmouth Bar Association
Memberships
-
- Virginia's Legal Elite, Virginia Business magazine, Tax/Estates/Trusts (2019-2022)
Professional Recognition
Experience
- Structuring of new ventures by tax-exempt organizations to minimize or avoid UBTI.
- Avoidance of prohibited “excess benefit transactions” in compensation arrangements and “insider” transactions.
- Formation and advising of supporting foundations for several large Hampton Roads charities.
- Charitable planning for high net worth individuals.
- Design selection and avoidance of compliance traps for employer retirement plans.
- Qualifying for and maintaining “church plan” status.
- Benefit compliance and nondiscrimination testing in complex joint venture arrangements.
- Structuring divisions of retirement benefits in divorce (QDROs)
- COBRA continuation health coverage compliance assistance.
- Assistance with cafeteria plans, life insurance and other welfare benefit compliance.
- Various payroll issues, including out-of-state remote employees and structuring payroll practices to avoid accelerating taxation under “constructive receipt” principles.