Richard D. Craig

Shareholder

(405) 552-2349
richard.craig@mcafeetaft.com
Oklahoma City

Richard Craig’s practice encompasses wealth transfer tax planning; corporate, individual and partnership taxation; tax and corporate aspects of business transactions; asset protection planning; and the litigation of tax matters in both state and federal courts.

Prior to attending law school, Richard worked as a tax accountant in both public practice with Arthur Andersen & Co. and in private industry. He has been a certified public accountant since 1981.

Richard has written numerous articles and papers and is the co-author of Oklahoma Limited Liability Company Forms and Practice Manual, a 14-chapter practice manual containing forms and explanatory text and analysis for lawyers, accountants, tax specialists, estate planners and real estate professionals.

In addition to being a frequent speaker and panelist on tax matters and related topics, Richard has served as an adjunct professor at the Oklahoma City University School of Law and the University of Oklahoma College of Law.

Richard is an elected fellow of the American College of Trust and Estate Counsel (ACTEC) and has been a member of the Business Planning and Asset Protection Planning Substantive Committees of ACTEC. He is also an elected member in the American Law Institute, a professional organization with a membership limited to 3,000 eminent federal and state judges, distinguished lawyers and respected law professors. His contributions to the Institute’s mission of legal research and reform include membership and participation in the ALI’s Third Restatement of Property (Wills and Other Donative Transfers) and Third Restatement of Trusts consultative groups.

Additionally, his achievements have earned him inclusion in The Best Lawyers in America (business organizations; closely held companies and family businesses law; corporate law; tax law; tax litigation and controversy; trusts and estates; trust and estates litigation), Chambers USA Guide to America’s Leading Lawyers for Business, and Oklahoma Super Lawyers (“Top 50 Oklahoma Lawyers”).  He was selected by Best Lawyers as the “Oklahoma City Trusts and Estates Lawyer of the Year” for 2012, “Oklahoma City Tax Litigation and Controversy Lawyer of the Year” for 2015, 2017 and 2019, and “Oklahoma City Tax Lawyer of the Year” for 2016, honors only given to a single lawyer in each legal specialty in each market.

Richard has previously served as the leader of the firm’s Tax & Family Wealth Group and on the board of directors.

Representative Experience

  • Actively involved in drafting the Oklahoma Limited Liability Company Act and obtaining Revenue ruling 93-92, which dealt with the federal tax classification of Oklahoma limited liability companies.

Honors & Awards

  • Elected Fellow of the American College of Trust and Estate Counsel
  • Listed in the Chambers USA Guide to America’s Leading Lawyers for Business
  • Selected by peers for inclusion in The Best Lawyers in America (business organizations; closely held companies and family businesses law; corporate law; tax law; tax litigation and controversy; trusts and estates; trusts and estates litigation)
  • Named “Oklahoma City Trusts and Estates Lawyer of the Year” for 2012, “Oklahoma City Tax Litigation and Controversy Lawyer of the Year” for 2015, 2017 and 2019, and “Oklahoma City Tax Lawyer of the Year” for 2016 by The Best Lawyers in America
  • Listed in Oklahoma Super Lawyers
  • Named to Oklahoma Super Lawyers’ list of “Top 50 Lawyers”
  • Rated AV Preeminent by Martindale-Hubbell Peer Review Ratings

Professional Organizations and Memberships

  • American College of Trust and Estate Counsel (Fellow)
  • The American Law Institute
  • Oklahoma Bar Association (Former Chair, Taxation Section)
  • Oklahoma Society of Certified Public Accountants
  • Oklahoma County Bar Association

Civic Involvement and Leadership

  • Norman Chamber of Commerce
  • Leadership Norman

Speaking Engagements

  • Oklahoma, 1985
  • U.S. District Court for the Western District of Oklahoma
  • U.S. Claims Court
  • U.S. Tax Court
  • U.S. Supreme Court
  • LL.M. Taxation, New York University, 1984
    • Wallace Scholar; Graduate Editor, Tax Law Review
  • J.D., with highest honors, University of Oklahoma, 1984; Editor-in-Chief, Oklahoma Law Review
  • B.S. (Accounting), with highest honors, East Central University, Ada OK, 1979
  • Certified Public Accountant (Inactive)