News & Analysis as of

Estate Planning › Small Business

Estate Planning is a process where individuals prepare or plan for the settlement of their personal affairs in the event of incapacitation or death. Estate plans typically include provisions relating to the... more +
Estate Planning is a process where individuals prepare or plan for the settlement of their personal affairs in the event of incapacitation or death. Estate plans typically include provisions relating to the disposition of assets, guardianship of minor children, and appointment of representatives to make medical and financial decisions. Effective estate planning can decrease tax liability and facilitate the probate process.  less -
Blank Rome LLP

Qualified Small Business Stock in Tax and Estate Planning

Blank Rome LLP on

Stock qualifying under Section 1202 of the Internal Revenue Code of 1986, as amended (the “Code”), as Qualified Small Business Stock (“QSBS”) allows eligible non-corporate taxpayers to potentially exclude a portion or all of...more

Hone Maxwell

Stacking QSBS: Using Trusts to Maximize the §1202 Exclusion

Hone Maxwell on

The Section 1202 exclusion is one of the most valuable tax planning tools available to U.S. business owners and investors. It allows a non-corporate taxpayer (e.g., an individual or trust) to eliminate federal capital gains...more

Davidoff Hutcher & Citron LLP

Trusts as Asset Protection Tools for Restaurant Owners

Davidoff Hutcher & Citron LLP on

For restaurant owners, protecting business and personal assets from lawsuits, creditors, and financial risks is essential. One of the most effective legal strategies is using trusts to shield wealth and ensure long-term...more

Lowenstein Sandler LLP

One Big Beautiful Bill and Opportunities To Avoid or Defer Tax on Gains

Lowenstein Sandler LLP on

On July 4, 2025, President Donald Trump signed into law the One Big Beautiful Bill Act (H.R.1) (OBBBA). This alert focuses on OBBBA changes regarding qualified small business stock (QSBS) and qualified opportunity zone (QOZ)...more

Mintz

Understanding the One Big Beautiful Bill Act: Key Tax Changes for Business Owners and Estate Planning Clients

Mintz on

The One Big Beautiful Bill Act (OBBBA) became law on July 4, 2025. This legislation introduces changes that will impact estate, tax, and business planning strategies for many business owners and high-net-worth individuals and...more

Farrell Fritz, P.C.

The Sun Will Not Set: The One Big Beautiful Bill

Farrell Fritz, P.C. on

The long-anticipated “sunset” of the Tax Cuts and Jobs Act of 2017 (TCJA) was slated for the end of 2025. Upon this “sunset,” the federal estate and gift tax exemptions—which reached $13.99 million per individual in...more

Davidoff Hutcher & Citron LLP

Why Restaurant Owners Need Asset Protection Strategies

Davidoff Hutcher & Citron LLP on

Running a restaurant comes with financial risks, including lawsuits, creditor claims, and unforeseen business downturns. Without proper asset protection strategies, restaurant owners may expose their personal wealth and...more

Allen Barron, Inc.

Create a New Trust or Update an Existing Estate Plan

Allen Barron, Inc. on

If you wish to create a new trust or update an existing estate plan, you will need skill and expertise across many disciplines: tax, estate planning, and legal services. Look for a service provider who can seamlessly...more

Allen Barron, Inc.

The Trend to Integrate Legal, Tax, Accounting, Business and Financial Advisory Services: the KPMG Arizona Gambit

Allen Barron, Inc. on

It has always been prudent to search for firms who can integrate legal, tax, accounting and business advisory services. While there are few such genuine providers across the United States they do exist, and the KPMG Arizona...more

Bennett Jones LLP

Bennett Jones Leading the Way in Employee Ownership Trusts

Bennett Jones LLP on

Effective January 1, 2024, Canada introduced detailed rules into the Income Tax Act (Canada) to facilitate and encourage employee ownership of small and medium sized Canadian businesses through the creation of employee...more

Cole Schotz

Death, Taxes and Shareholder Agreements: Lessons from the Connelly Case

Cole Schotz on

Recently, the U.S. Supreme Court ruled unanimously in Connelly v. United States, that the valuation of a decedent’s shares in a closely held corporation for federal estate tax purposes must include insurance proceeds received...more

Allen Barron, Inc.

Tax and Estate Planning for Small Business Owners and S Corporations with No Employees

Allen Barron, Inc. on

Many small business owners mistakenly believe business succession planning and estate planning is for those with substantial wealth. This is simply a myth which does not reflect the nature of business or home ownership....more

Husch Blackwell LLP

Unanimous Supreme Court Determines Company-Owned Life Insurance Increases Fair Market Value

Husch Blackwell LLP on

On June 6, 2024, the Supreme Court held 9-to-0 in Connelly v. United States that company-owned life insurance increases the company’s fair market value for estate tax purposes, and the company’s obligation to redeem a...more

Pillsbury - Propel

Estate Planning for Founders - Part II: Planning with Qualified Small Business Stock

Pillsbury - Propel on

This is the second of a four-part series focusing on estate planning fundamentals for founders. This article will address an important topic for owners of Qualified Small Business Stock (QSBS) as defined in Section 1202 of...more

Rivkin Radler LLP

BEWARE: Redemption Agreement Funded with Corporate-Owned Life Insurance

Rivkin Radler LLP on

On June 6, 2024, in the case of Connelly v. United States, the United States Supreme Court determined that corporate-owned life insurance proceeds used to redeem a decedent’s shares in the corporation must be included when...more

Warner Norcross + Judd

Connelly v. United States Decision Affects Life Insurance for Closely Held Business Owners

Warner Norcross + Judd on

On June 6, 2024, the United States Supreme Court issued its opinion regarding Connelly, as Executor of the Estate of Connelly v. United States. This final decision will directly impact all closely held business owners that...more

Perkins Coie

Supreme Court Clarifies Estate Tax Consequences for Closely Held Company

Perkins Coie on

The Supreme Court of the United States issued an important ruling on June 6, 2024, clarifying the federal tax consequences of certain succession plans for closely held businesses. The Court held in Connelly v. United States,...more

ArentFox Schiff

US Supreme Court Affirms the Eighth Circuit’s Decision in Favor of the Government Concerning the Estate Tax Treatment of Life...

ArentFox Schiff on

In Connelly v. US, 602 US ___ (6/6/2024), the US Supreme Court affirmed a decision of the US Court of Appeals for the Eighth Circuit in favor of the government concerning the estate tax treatment of life insurance proceeds...more

DarrowEverett LLP

Buy, Sell, Pay Taxes: SCOTUS Decision Places Its Own Premium on Buy-Sell Insurance

DarrowEverett LLP on

All U.S. closely held businesses just received a warning from the highest court in the land that they should review their succession plans (or else risk a higher tax bill for the estates of their owners). On June 6, 2024, the...more

Kohrman Jackson & Krantz LLP

Supreme Court Decision in Connelly v. US: Implications for Family-Owned Businesses

Kohrman Jackson & Krantz LLP on

In a landmark decision, the U.S. Supreme Court’s decision in Connelly v. United States will require closely-held business owners to reconsider their current buy-sell arrangement in order to avoid additional federal estate...more

Keating Muething & Klekamp PLL

Estate Planning Update: Preparing for the Corporate Transparency Act

Keating Muething & Klekamp PLL on

Effective January 1, 2024, a sweeping anti-financial crimes law – the Corporate Transparency Act – will affect every small business. If you own an interest in a small business, even a single-member LLC, you may be subject to...more

Farella Braun + Martel LLP

Steps for the Long-term Success of Your Brand & Business

Farella Braun + Martel LLP on

Family wineries face certain common issues when it comes to succession planning, and there are steps you can take to help ensure the longevity and success of your brand and business. Step 1 – Develop a Plan - Benjamin...more

Nutter McClennen & Fish LLP

The Corporate Transparency Act Webinar Recap

Nutter McClennen & Fish LLP on

Watch the full recording. What Is the CTA? The CTA (31 USC § 5336; 31 CFR 1010) is intended to strengthen the federal government’s anti-money laundering efforts by requiring many business entities to report information...more

Sands Anderson PC

Top Seven Financial Planning Tips for Business Owners and Executives

Sands Anderson PC on

With the end of 2021 fast approaching, below are the top seven year-end financial planning tips Sands Anderson PC’s Trust & Estate Planning Team and Tax Team are addressing with business owners and executives...more

Rivkin Radler LLP

Increased Capital Gain Rate, Nonresident Aliens, And ESBTs

Rivkin Radler LLP on

Compare and Contrast- Have you spoken to anybody about the infrastructure bill on which the Senate is about to vote? I know I haven’t, except to explain that Speaker Pelosi has stated the House will not consider the bill...more

32 Results
 / 
View per page
Page: of 2
Next »

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
Sign up Log in
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide