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Business Buy Sell Agreements - A Primer

We all know people who invest in stock that is publically traded on a stock exchange, like the New York Stock Exchange.  In fact, most people with IRA accounts or 401(k) accounts are invested in funds that in turn invest in the stock market.   Tho…
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Estate Planning - General Information

What is Estate Planning?  If asked that question, many people would define estate planning as the determination of who receives property upon death.  Others might consider estate planning as a means of reducing taxes upon death.  Many would defin…
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Bespoke Estate Planning

Bespoke – [bəˈspōk].  Adjective.  Made to individual order (as in clothing); custom-made. Shortly after the beginning of the year I visited with an old friend — but a new client — who had contacted me because she was interested in…
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Freshness Dating...And Estate Planning??

Early this morning as I stared in the refrigerator, patiently waiting for its secrets to be revealed to me, I saw the plastic carton of blueberry Chobani smirking at me: “Best By March 15, 2017.”  Then my army of outdated condiments joined in. …
Categories: Firm News, Publications

Estate Planning in the Trump Era: A Peek Around the Corner

As the tumultuous opening weeks of the new Donald Trump Presidency unfold, the pre-election histrionics have not abated, and everyone cautiously watches to see what’s next. Regardless of your politics, there is no denying that these are interesting…
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The Cat’s Meow: Estate Planning for Pets

For 2016, it is estimated that pet owners in the United States will spend $62.75 billion dollars on their pets.[1] This number has nearly doubled over the past ten years. With an ever growing supply of grain-free and organic pet foods and treats, pet…
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Proposed IRS Regulations Threaten Discounts for Closely Held Businesses

The United States Treasury (IRS) recently issued Proposed Regulations that could have a dramatic impact on your estate plan. In their current form, these Proposed Regulations would essentially eliminate discounts for minority control and a lack of ma…
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Asset Protection Considerations

When working with clients to develop thorough and appropriate estate planning strategies, many issues need to be addressed:  guardians for minor children; minimizing or eliminating future tax liabilities; caring for elderly parents; designing struct…
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Six Months and a Day...

“New data released by the U.S. Census Bureau showed that in terms of domestic migration — people moving about within the United States — Illinois saw roughly 105,200 more people leave than arrive.”   Illinois Policy Institute, December 23,…
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A Time to Be GRATful

This article will explore the implementation of a Grantor Retained Annuity Trust (“GRAT”), in general, and provide specific examples of the estate and gift tax treatment of the transfer of assets to a GRAT. GRATs are a well-established estate pla…
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