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Business Organization Wills, Trusts, & Estate Planning

Read Business Organization updates, alerts, news, and legal analysis from leading lawyers and law firms:

New partnership audit rules can apply to partnerships, LLCs with only a few partners, members

by Thompson Coburn LLP on

Effective in 2018, changes in partnership audit rules may apply the following (and other) consequences to partnerships (including LLCs taxed as such)...more

Family Business Interests, Charitable Remainder Trusts and Life Insurance: Q & A with Capital Strategies Group

Bradley’s Family Owned Business team asked our friends at Capital Strategies Group, Inc. to share a case illustrating how high-net-worth families involved in family businesses are using life insurance in creative ways that go...more

Definitions in Shareholder Agreements Matter When Transferring Family-Owned Business Stock

by Murtha Cullina on

Owners of family-owned corporations often enter into shareholder agreements that spell out whether and to whom corporate shares can be transferred. Frequently, these agreements provide for rights of first refusal by the other...more

Do You Have a Reasonable Expectation of Receiving Dividends if You Acquired Your Shares in a Family-Owned Corporation Through Gift...

by Murtha Cullina on

Corporate shareholders often expect to receive dividends in connection with their ownership of corporate shares. This is particularly true when owners invest capital in or provide other services to the company in exchange for...more

Jones Presents at NCBA Estate Planning and Probate Section Annual Meeting

by Moore & Van Allen PLLC on

Charlotte Wealth and Estate Planning Member Chris Jones spoke at the North Carolina Bar Association (NCBA) Estate Planning and Probate Section Annual Meeting in Kiawah Island, SC on July 28. The presentation titled,...more

UK beneficial ownership registers – how recent developments affect finance transactions

by Dentons on

This year the UK government has introduced, updated and consulted on various measures to make the identity of those investing in the UK more transparent. Some, but not all, of these have been introduced to comply with the EU...more

The Federal Government takes aim at private corporations and their shareholders

by Dentons on

On July 18, 2017, the Federal Government released a package of tax measures aimed to “improve fairness”, “close loopholes” and limit tax planning strategies that involve the use of private corporations. The suite of measures...more

Win One for the Fiduciary – The PA Supreme Court Clarifies the Interplay of UTA Provisions

As counsel to fiduciaries across our great Commonwealth, I was beginning to despair that changing one’s trustee was becoming as easy as changing the oil in one’s car. In the seminal case of Trust Under Agreement of Edward...more

Recent case law update: Treatment of Trust Assets — Akers (and others) v. Samba Financial Group (2017)

by Latham & Watkins LLP on

The English Supreme Court has delivered a ruling that provides helpful guidance on the enforceability of trusts in respect of assets located in foreign jurisdictions that do not recognise trusts. The ruling also highlights...more

Nate Smithson Provides an Update on Tax Reform

by Jackson Walker on

Jackson Walker partner Nate Smithson has prepared an updated guide to tax reform under the Trump administration. The guide covers tax brackets, deductions, capital gains, and other relevant topics in tax law. Please see...more

BEWARE! Impact of New Tax Rules on Your Family Limited Partnership

by Strasburger & Price, LLP on

Family limited partnerships (“FLPs”) are a common estate planning technique. They permit centralized asset management, provide liability protection, and create a mechanism by which one generation can transfer wealth to the...more

Treasury Dept. Identifies 8 "Significant Tax Regulations" for Review to Reduce Burden

by Holland & Knight LLP on

The U.S. Department of the Treasury announced on July 7, 2017, in Notice 2017-38 (the Notice) that it has identified as "significant tax regulations" eight sets of U.S. federal tax regulations that were issued between Jan. 1,...more

[Webinar] Leveraging to Attain Basis Step-Up; Income Tax Benefits of Losing an FLP Case - July 11th, 12:00pm CT

by Thompson Coburn LLP on

Please join us for a webinar based on Steve Gorin's Second Quarter 2017 newsletter, Gorin's Business Succession Solutions. In this webinar the presenter will discuss that one can use debt to allow property to obtain a...more

Nate Smithson Provides an Update on Tax Reform

by Jackson Walker on

Jackson Walker partner Nate Smithson has prepared an updated guide to tax reform under the Trump administration. The guide covers tax brackets, deductions, capital gains, and other relevant topics in tax law. Please see...more

Life insurance planning for the business owner

by Thompson Coburn LLP on

Life insurance is an effective tool that business owners can use to provide liquidity at their passing for both their businesses and their families. Having a properly drafted buy-sell agreement is key to avoiding conflict and...more

Litigating trust matters in the federal courts (U.S.): A jurisdiction primer

by Charles E. Rounds, Jr. on

The diversity jurisdiction of the federal courts generally does not extend to state probate matters. However, this so-called “probate exception to federal diversity jurisdiction” does not apply to trust disputes. See...more

Podcast - Shrink the Section 457A Tax on Hedge Fund Management and Incentive Fees and Expand Your Impact

by Ropes & Gray LLP on

In a recently released Ropes & Gray podcast, asset management partner Isabel Dische, tax partner Brett Robbins, and private client partner Cameron Casey discuss the effect of Section 457A on pre-2009 management and incentive...more

Tackling Tax Reform – Part IV: What Can We Expect To See

by Garvey Schubert Barer on

On April 11, 2017, we discussed what constitutes Tax Reform. On April 24, 2017, we explored the process by which Tax Reform will likely be created by lawmakers. In our May 3, 2017 blog post, we focused on the likely timing...more

Re-examining purpose clauses and Quistclose trusts

by Dentons on

In CCM Industrial Pte Ltd (in liquidation) v Chan Pui Yee [2016] SGHC 231 (CCM Industrial), the liquidators of CCM Industrial Pte Ltd (the Company) brought a claim for the recovery of certain payments (the Payments) to the...more

Succession Planning—Bet the Farm on It

by Ward and Smith, P.A. on

Despite recent trends toward consolidation in the agricultural industry, farming generally remains a family affair. According to the United States Department of Agriculture, 97 percent of all farms in the United States are...more

The Evolving Blueprint for Tax Reform: Candidate Trump vs. President Trump

by McNair Law Firm, P.A. on

On April 26, 2017, Treasury Secretary Steven Mnuchin and U.S. National Economic Council Director Gary Cohn, presented the blue print for President Trump’s tax reform proposal (referred to as the “2017 Tax Reform for Economic...more

If You Expect to Work in the Family-Owned Business for Life, Be Sure to Get It in Writing

by Murtha Cullina on

Family-owned businesses often employ multiple family members. Even if there is an expectation that employment will continue indefinitely, the company and the family member employees both usually reserve the right, explicitly...more

Maryland Legislation Update - April 2017

by Pessin Katz Law, P.A. on

Governor Hogan has held six bill signing sessions to date. Two bill signings remain on the Governor’s schedule for May 2 and May 4. Under Maryland law all bills are to be presented to the Governor by April 30 this year, the...more

Kyiv Tax Newsletter (Ukrainian)

by Dentons on

On 23 March 2017, the President of Ukraine signed the Law of Ukraine “On Amendments to the Tax Code of Ukraine Concerning the Taxation of Inheritance” (hereinafter – the Law on inheritance tax), which simplifies the...more

Kyiv Tax Newsletter - April 2017

by Dentons on

On 23 March 2017, the President of Ukraine signed the Law of Ukraine “On Amendments to the Tax Code of Ukraine Concerning the Taxation of Inheritance” (hereinafter – the Law on inheritance tax), which simplifies the...more

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