The days of reducing gift and estate tax through valuation discounts for closely-held family businesses appear to be coming to an end. After months of anticipation, the U.S. Treasury has released pr...
Advantages and Disadvantages of LLCs
By: Beth Schroeder Forming an LLC to hold tangible property assets is a good idea if you are actively investing in real estate. However, LLCs may not serve as the best holding vehicle for every proper...
Building your Business Practice: How Legal Assessments Deliver Value to You and Your Clients
By: Thomas Fafinski Published in WealthCounsel Quarterly April 2016 A client’s decision to retain you is often overwhelming. Are you the best person for the role as their business counselor? Are...
Attractiveness and Certainty: The Minnesota LLC Act Makeover
By: Candace M. Groth Up until recently, Minnesota LLC’s were governed by 322B, a statute modeled on Minnesota’s corporate statute. 322B included extensive corporate formalities, dissenter’s righ...
Decanting: How to Fix a Trust That Isn’t Getting Better With Age
While many wines get better with age, the same cannot be said for some irrevocable trusts. Maybe you’re the beneficiary of a trust created by your great grandfather seventy years ago that n...
Aging.gov: A New Resource for Older Americans and Their Families
More than 10,000 people turn 65 in the U.S. every day according to Aging.gov(http://www.hhs.gov/aging/), a new website recently launched by the Obama administration. The goal of this website is to ...
What’s Hot in Estate Planning Right Now May Surprise You
Estate planning has truly evolved over the past 20 years. Gone is the uncertainty about federal estate taxes and the absolute requirement for married couples to use complex trusts to minimize these ...
Skyrocketing Probate Fees – Another Reason to Avoid Probate Court
As of July 1, 2015, Connecticut probate courts earned the dubious distinction of charging the highest probate fees in the U.S. Amazingly, the Connecticut legislature voted to completely cut general ...
What You Need to Know About the Final Estate Tax Portability Rules
Recently the IRS issued the final rules governing the “portability election” as it relates to the federal estate tax exemption. Married couples need to understand how these final rules may affec...
Financial Firms Roll Out Form Aimed at Stopping Financial Elder Abuse
With cases of financial exploitation of the elderly on the rise, advisors who work with older clients are looking for ways to head off the abuse before it happens. Enter the “Emergency Contact Aut...