Richard D. Craig

Shareholder, Practice Group Leader

Paralegal: Jennifer Chrisman
Bio Menu
  • Overview
  • Experience
  • Honors & Involvement
Bio overview

Richard Craig’s practice encompasses wealth transfer tax planning; corporate, individual and partnership taxation; tax and corporate aspects of business transactions; and the litigation of tax matters in both state and federal courts. He currently serves as co-leader of the firm’s Tax and Family Wealth Group.

Prior to attending law school, Richard worked as an accountant in both public practice and 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 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 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 includemembership 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; 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. 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 on the firm’s board of directors.

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Experience, Honors, & Awards

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; 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
  • 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
  • American College of Trust and Estate Counsel (Fellow)
  • 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

ATPs display in this column

At The Podium

Discounting Transfer Tax Values of Interests in Family-Owned Entities

2016 Corporate Counsel Seminar
Oklahoma City, Oklahoma | December 8, 2016

Exit Planning for Closely Held Businesses: Favorite Top Ten Tax Planning Techniques

OSCPA’s Oklahoma Tax Institute
Tulsa, Oklahoma | December 4, 2015

An Inconvenient Tax and the Equal Sharing of Miseries

Oklahoma Tax Institute
Tulsa, Oklahoma | December 5, 2013

End of the Decade Transfer Tax Planning in One Month: All of the Virtues Planners Dislike and None of the Vices We Admire

Oklahoma Tax Institute
December 1, 2010
Attorney Articles

Articles

Oklahoma Limited Liability Company: Forms and Practice Manual

Data Trace Publishing Company |
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Admissions

  • Oklahoma, 1985
  • U.S. District Court for the Western District of Oklahoma
  • U.S. Claims Court
  • U.S. Tax Court
  • U.S. Supreme Court
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Education

  • LL.M. Taxation, New York University, 1984
    • Wallace Scholar; Graduate Editor, Tax Law Review
  • J.D., with highest honors, University of Oklahoma, 1984
  • B.S. (Accounting), with highest honors, East Central University, Ada OK, 1979
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Professional Certification

  • Certified Public Accountant (Inactive)
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