This is a case study of a parent who helped a child purchase a house under the condition that when she sells the house her sibling gets half the value. How many things might go wrong with this seemingly simple plan?
It is common for families to try to pass on, as a legacy to children and future generations, a family vacation home. Because of the almost endless permutations of family interpersonal relationships, financial differences, types of homes, etc. there are many different ways to plan for this. There are also many ways for this common…
A common planning goal and asset is planning for a parcel of land, a camp, vacation home, a cottage, or perhaps a hunting lodge that his been in the family for generations, that you want to keep in the family for future generations. How do you pass that family camp on to future generations? Say…
Many clients own family businesses. Succession and estate planning for those businesses can involve many complex personal, business, estate planning and other issues. The situation may be particularly nettlesome when one or more children are involved in the business and others are not. This webinar will explore a range of practical issues clients raise in…
Practitioners should inform clients with buy sell redemption agreements about the recent Connelly v. IRS, No. 21-3683 (8th Cir. 2023) that held that corporate owned life insurance had to be included in the value of the company. This recent case requires that buy-sale agreements, buy-out agreements, ownership of life insurance to be used in buyouts…
Speakers: Jerome Hesch and Martin M. Shenkman This video clip provides a discussion on Preferred Partnerships for Encumbered Real Estate. Handouts One Slide Per Page
Speakers: Martin M. Shenkman, Esq. This video discusses estate planning considerations for passing wealth to your heirs, as well as considerations for proposals that have been made regarding the estate tax in the “Build Back Better” legislation by both President Biden and the Democratic legislature. Handout One Slide Per Page
We’ll explain what a home inventory is and why you need one. A proper home inventory can save you time, money and needless headaches. If you have a fire, flood or other natural catastrophe, how can you prove to your insurance company what was lost or damaged? Many people that have had their homes…
Lower C corporation income tax rates have increased attention to the Code Sec. 1202 exclusion for gain on the sale of stock. Learn how the Code Sec. 1202 exclusion works, how it applies when a business changes from another entity to a C corporation, how it affects a C corporation’s business structure, and how it…