Recent Blog Posts
Creating a Last Will and Testament
Contemplating one’s death can be uncomfortable, but it is crucial to have the conversation and create an estate plan to ensure loved ones are provided for in the event of an accident or untimely death. Those who fail to create a will or establish a living trust no longer get to choose who inherits… Read More »
Treasury Announces Withdrawal of Proposed Section 2704 Regulations
Last year, the IRS proposed a series of regulations regarding how interests between family members in a closely held corporation could be transferred. If enacted, these regulations would have made substantial changes to how interests in family-controlled entities are valued for gift, estate, and tax purposes. Fortunately, this proposal was recently withdrawn by the Treasury…. Read More »
Unified Framework for Fixing Our Broken Tax Code
On September 27, 2017, the Trump Administration, the House Committee on Ways and Means, and the Senate Committee on Finance released a long-awaited tax proposal, titled the Unified Framework for Fixing Our Broken Tax Code (the “Framework”). As with prior proposals, the Framework paints in broad policy strokes and is short on actual detail,… Read More »
How to Manage a Windfall
Coming into a large sum of money (whether from an inheritance, a gift or a legal settlement) is a good thing, but it can also have its down sides. A study of Florida lottery winners found that more than five percent of winners declared bankruptcy within five years. Managing a windfall responsibly — with… Read More »
Leasing Property to Your Business Might Trigger Undesirable Tax Consequences
If you own property and a business, there is an obvious temptation to lease the property to the business. Such an arrangement can make sense from many perspectives. You are no doubt familiar with the property and its advantages to your company. The deal could be carried out quickly, and the money would stay… Read More »
The Importance of Reviewing (and Updating) Your Estate Plan
You have an estate plan; you probably even remember creating it. Making the decisions and pulling together the documents was probably time consuming and tedious. The initial process of creating an estate plan can be so painful and involved that people may avoid reviewing it again for years. Life events such as marriage, separation,… Read More »
Why You Should – or Should Not – Pursue an Acquisition
Like so many aspects of national and global economies, merger and acquisition (M&A) activity tends to wax and wane. Nonetheless, billions of dollars continue to change hands annually; and an acquisition can be a great way to grow a business. So if one of these deals comes your way, it is important to carefully… Read More »
