KATHLEEN M. GALGANO has been a member of the Firm for some 20 years, concentrating on Estate, Gift, Corporate and Business Succession Tax Planning; Administration of Estates & Trusts & Elder Care; Taxation & Audits; Banking, Finance, Corporate and Bankruptcy matters.

In her Estate, Gift and Business Tax Planning practice, she has considerable experience in sophisticated estate, tax and business succession planning, integrating the other practice areas of the Firm, (such as pension and benefits, corporate and real estate); and implementing the same with numerous, often complex, documents including Wills, numerous Trusts, Powers of Attorney and Health Care Proxies, Qualified Residence Personal Trusts, Qualified Terminable Interest Property Trusts, Zeroed-out Grantor Retained Annuity Trusts, Limited Liability Company Operating Agreements, a variety of other planning and Gift Tax Discount strategies and valuations/appraisals. She provides professional services to a variety of individuals and entities, from middle class to high net worth clients and from banks and investment advisors to corporations.  

She is a leader in the Estate/Trust Administration group where she has substantial experience in all phases of administering Estates and Trusts and all the related business, real estate property and planning issues; including large and complex estates/trusts, as well as small ones. With the aid of a range of available legal and paralegal services, she is able to provide these services on a cost effective basis.  Her extensive experience in interconnected Creditor’s Rights, Bankruptcy, Corporate Law, Banking and Finance, has helped her immeasurably in the Estate/Trust Administration and tax areas.  

She is quite familiar with Estate & Gift Taxes and Tax Audits, prepares both customary and often quite complex Estate (and coordinating Gift Tax) Returns and has conducted numerous IRS and New York State audits and appeals. She has been quite successful in negotiating Estate/Gift issues, valuations, includability of assets, and numerous other related expense, debt, asset and business issues. She coordinates these estate and income tax, audit, discount valuations and accounting matters with fiduciaries, accounting firms, attorneys and Investment advisors.

Her considerable Elder Care focus utilizes available opportunities for Medicaid/Medicare for her clients.  She has qualified many elder care clients for these benefits and advises on asset dispositions, use, residency, eligibility of resources and income. She integrates this planning with her overall Estate, Gift and Business Succession tax planning and drafting.  As part of the Elder Care practice she is quite familiar with the numerous related documents including Petitions for Medicaid/Medicare, spousal refusals, Powers of Attorney’s, Health Care Proxy’s, etc.

Bankruptcy, Creditor’s Rights. Ms. Galgano was selected as a Bankruptcy Research Assistant by the Honorable Conrad B. Duburstein, Chief Judge of the United States Bankruptcy Court, Eastern District of New York where she was involved in a wide variety of Bankruptcy, Creditor, Corporate and Banking issues and assisted in drafting opinions of the Court. She was fortunate in having the Chief Judge act as personal mentor in the bankruptcy area. This judicial experience helped develop a considerable understanding of Bankruptcy and creditors rights matters from the court’s perspective.  

Upon admission to practice, Ms. Galgano was employed by the prestigious firm of Shea & Gould in the Bankruptcy and Creditors’ Rights Department.  This Bankruptcy practice included representation of Trustees and large corporate and banking creditors, as well as corporate and individual debtors in Chapter 7, Chapter 11 and Chapter 13 cases, in the Southern and Eastern Districts of New York and in Connecticut and New Jersey.  

This broad Litigation experience at Shea Gould in Creditors' Rights includes petitions/motions, rights of Lenders, fraudulent conveyances, perfection of liens, priorities, collateral claims and enforcement, insolvency, workouts and restructurings, preferences,   claims, objections, automatic stays, executory contracts and leases (landlord/tenant) creditor financing and fee applications.  Furthermore, Ms. Galgano has been on both sides, as a Draftsman/Proponent of the Plan of Reorganization and as an Opponent.  Her background in Creditor’s Rights, involving virtually all business, financial and accounting matters of a bankrupt entity has helped develop a keen understanding of many other practice areas, namely, Tax, Business, Corporate, Commercial, Loans, Finance, Accounting, Employment Practices and the Lending Practices of corporations and banks.  

General Business Practice. Prior to law school, Ms. Galgano has had considerable experience as a Special Projects Director, to the President of a public company, in the Corporate area, including general corporate governance, recapitalizations, redemptions, liquidations, dissolutions and a variety of organizing and ongoing corporate and commercial agreements; as well as Federal Securities Law matters, such as, the filing requirements for employee benefit plans, Registration and Exemptions, including Rule 144.  She has also worked directly with the Securities and Exchange Commission in connection with public offerings, the drafting and approval of a prospectus, coordinating underwriters and preparing corporate executives for meetings with securities firms.  She has used these Corporate and Securities Law skills as well as her substantial Creditor’s Rights experience in our Firm in the Corporate, Banking, Finance, Taxation, and Estate & Trust areas.

Banking, Lending & Finance, Corporate. After leaving Shea & Gould, she assisted the firm in representing many banks on commercial lending, workout and collections; and also in the Firm’s General Counsel representation of the National Banking Association in the full scope of banking activities, including lending, marketing, 1934 Securities & Exchange Act compliance, periodic reporting, proxy statements, and annual meetings, banking, siteing, trust department operations, and review of all bank and trust legal and loan documents.  She had similar functions as a Law Clerk with the Firm throughout Law School.

As a result, Ms. Galgano had substantial experience in the Firm's Commercial Bank Lending, in a wide spectrum of sophisticated commercial loan transactions (from normal business loans to IDA’s, JDA’s etc.), structuring (and restructuring) and closing loans, banking practices, loan applications and approvals, commitment letters of all types and a complexity of loan documents.  She also developed prototype lending forms for two major commercial banks. Her Creditors’ Rights and Corporate experience has proved invaluable in the Banking area.  

Professional Associations
American Bar Association:  Bankruptcy, Creditor’s Rights, Estates & Trust Committees
New York State Bar Association, Trust & Estates and Tax Committees
Nassau County Bar Association, Trust & Estates and Tax, Elder Law Committees
The Association of the Bar of the City of New York, Creditor’s Rights Committee
Bankruptcy and Credit Rights Committee

Court Admissions
New York
Bankruptcy & Federal District Courts

Education
Rosemont College, B.A., English & Communications
St. John’s University School of Law, J.D.
Staff of General Legal Commentary, authored Articles on Securities & Exchange Commission Regulations of Corporate Takeovers
Specialized Law School Activities:
         Advanced Securities Law Regulations
         Bankruptcy & Creditor’s Rights
         Moot Court Competition Finalist