Senior Partner Philip S. Magaram retired from Valensi Rose and the practice of law at the end of 2018, after a long and illustrious career.
A graduate of UCLA and UCLA Law School, Phil was admitted to practice law in 1962. He joined Steve Valensi and Sid Rose 22 years later. A certified specialist in taxation as well as estate planning and trust law, Phil specialized in complex tax and estate planning and is widely recognized as one of the preeminent lawyers in his field.
Phil’s career spanned more than 56 years. Because of his wealth of experience, his legal insights, and uncanny business acumen, extremely high-net-worth and high-profile clients turned to Phil to help with the unique challenges and responsibilities that accompanied their circumstances, and relied on him for guidance on their complex business, personal, estate and tax issues.
He represented the prevailing parties in two published cases related to the estate of Jean Paul Getty, which at nearly $1.4 billion was the largest estate ever subject to probate in California. One was a Ninth Circuit federal income tax case in which Phil successfully challenged decisions by the IRS and the U.S. Tax Court, Getty v. Commissioner (9th Cir. 1990) 913 F.2d 1486. The second was a California Court of Appeal case, Estate of Getty (1983) 143 Cal.App.3d 455, in which the appellate court affirmed the executor's legal fees.
He is fond of saying that he specialized in “disinheriting Uncle Sam.” Phil’s expertise enabled him to craft optimal tax, estate and business planning strategies that maximized financial benefits for his clients and their beneficiaries and, serving as a trusted confidant, helped his clients achieve their personal objectives.
In addition to estate and tax planning, due to his clients’ confidence in his business insight and judgment, Phil was frequently asked to advise them on complex business issues, real estate transactions and important family matters. Recognizing the problems and complexities that face high-net-worth clients, he was able to draw upon his precise legal knowledge, his thorough understanding of business, and his empathic perception of personal and family issues, to craft effective solutions and successful outcomes.
Phil was a sought-after speaker, lecturer, author on complex tax and estate planning issues, and a highly regarded mentor to younger attorneys.
Phil was named a “Super Lawyer” among Southern California lawyers 13 years in a row, and prior to his retirement was selected by his peers for the 2019 "Best Lawyers in America" list.
Phil is an active and involved philanthropist. Through his numerous charitable activities, he has made a strong and indelible investment in the community.
For many years he chaired Couples Against Leukemia, an affiliate of the Ronald McDonald House Charities, and served on the Board of Directors of the Joseph Drown Foundation, which provides grants supporting programs in education, science, health and social services. He is a lifetime member and past chairman of the Pacific Area Arthritis Foundation, and a member and past chairman of the Board of Directors of the Cal State Northridge Foundation.
In 1991, to honor the memory and work of his late wife, he oversaw the creation of the Marilyn Magaram Center for Food Science, Nutrition and Dietetics at Cal State Northridge.
We at Valensi Rose are honored to have practiced law with Phil. All of us thank him for his many years of friendship and mentorship, and look forward to carrying on his legacy in a manner that will continue to make him proud of the firm he helped build.