News & Analysis as of September 21, 2024

Limited Liability Company (LLC)

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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 -

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

Husch Blackwell LLP on 8/23/2024

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

The Importance of Succession Planning for Business Owners

Allen Barron, Inc. on 12/22/2023

What is the importance of succession planning for business owners? Why should you be concerned about the development and implementation of succession planning if you own a business or a significant interest in an LLC, S...more

Compliance with the Corporate Transparency Act Necessary for Many Estate Planning Clients

Mintz on 12/14/2023

Reporting requirements under the Corporate Transparency Act (CTA) will go into effect beginning January 1, 2024. Under the CTA, many business entities formed or registered in the US will be required to provide the personal...more

You Can Relax if Your Estate Plan Includes a SPA Trust

Adler Pollock & Sheehan P.C. on 12/27/2021

During times of economic and tax law uncertainty, the more flexible your estate plan, the better. As some parts of the country are rebounding economically from effects of the COVID-19 pandemic, other areas continue to...more

Protecting Business Wealth From Creditors

Adler Pollock & Sheehan P.C. on 11/2/2021

If you’re a business owner, you’ve likely worked long and hard to achieve your goals. It would be a shame if creditors were able to reach your assets before you’ve transferred wealth to the younger generation. Fortunately,...more

Insight on Estate Planning - October/November 2013

Adler Pollock & Sheehan P.C. on 10/4/2013

In This Issue: - To preserve your wealth, consider a DAPT - Estate planning for same-sex spouses: What the Supreme Court’s DOMA ruling means - Using an FLP or LLC? Beware the step transaction doctrine ...more

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