Changing tax laws, political uncertainty, and the whole family at Thanksgiving can take us on a roller coaster ride of ups and downs. But savvy business owners (and their estate planning counsel) know that – in the end –...more
Financial markets, political moods, and the world-at-large can take us on a roller coaster ride of ups and downs. But savvy investors (and their estate planning counsel) know that – in the end – neither the bears nor bulls...more
Let's be honest. Legal documents are not written in anyone's love language. On Valentines Day, we undoubtedly would prefer to exchange thoughtful presents, enjoy an intimate meal with our significant other, or blush at the...more
Pets are not just animals, they are cherished members of our families, providing unconditional love and companionship. That is why, as responsible pet owners, it is our duty to ensure that our beloved furry friends are cared...more
Some are quick to dismiss asset protection trust planning as too complex or unnecessary. For those not in a "certain tax bracket," this type of planning may seem like an over-reach by an estate planning attorney. There are...more
With the summer almost in the rearview, gift-giving may not feel like a top priority. From a tax planning perspective, however, it might be the perfect season to consider making substantial gifts to benefit your family....more
Estate planning professionals help clients look ahead and anticipate future contingencies. By necessity, however, estate plans are crafted based on laws and circumstances existing at the time they are put in place. This...more
Revocable trusts can simplify asset management during life and facilitate and make private asset transfers at death. You may think that your estate planning work is done when you sign your revocable trust agreement, but, to...more
In the movie The Pink Panther Strikes Again, Inspector Clouseau asks a hotel clerk standing near a dog whether his dog bites. The clerk says no. Clouseau reaches down to pet the dog. The dog bites his hand....more
Historically, only the very wealthy engaged in generation-skipping estate planning. Families and individuals who do not think of themselves as "very wealthy," however, also can reap significant benefits from this type of...more
The past few years have exposed a lot of needs in our communities, and many of us feel even more compelled to give back what we can.
It seems more important now than ever to support worthy charitable organizations that...more
It is a particularly thorny question – one faced by owners of businesses both large and small: Is it time to promote this employee to co-owner?
Panelists at our 2019 Closely Held Business Summit recently noted the...more
In the wake of COVID-19, we may see significant statutory changes to the federal estate, gift, and generation-skipping transfer tax exemptions. Spousal Lifetime Access Trusts and other planning techniques provide...more
6/3/2020
/ Beneficiaries ,
Estate Planning ,
Estate Tax ,
Estate-Tax Exemption ,
Generation-Skipping Transfer ,
Gift-Tax Exemption ,
Grantor Trusts ,
Income Taxes ,
Irrevocable Trusts ,
SLAT ,
Tax Cuts and Jobs Act ,
Tax Exemptions
The novel coronavirus pandemic has had a dramatic impact on the U.S. economy.
Investors have experienced record-setting fluctuations in marketable security values on U.S. exchanges, and global markets are bracing for...more
Business consultant Karen Albritton along with Ward and Smith attorneys Deana Labriola and Matt Thompson, all with personal experience in a variety of companies, discussed several of the tricky issues related to ownership...more
Let's discuss some less-dramatic exit options for business owners (when they want to step away).
You may not run a global media conglomerate, but even closely held business owners (and perhaps especially closely held...more
10/3/2019
/ Acquisitions ,
Business Succession ,
C-Corporation ,
Closely Held Businesses ,
Employee Benefits ,
ESOP ,
Exit Strategies ,
Mergers ,
Private Equity ,
S-Corporation ,
Succession Planning