Gifting of Family Business to the Next Generation

Many business owners contemplate a succession plan to transfer the business to their children but are unsure of how to achieve this or the potential tax consequences of doing so. Have you given this any thought? Now is the time! With proper planning, gifting shares of the business to children can help reduce future estate…

Wandry v Commissioner is a Big Win for Gifting

Background – Wandry (donor) transferred gifts of specific dollar amounts of membership units in a limited liability company (LLC). Pursuant to gift documents, units of the donors’ LLC were transferred to their children and grandchildren. The documents specified that the fair market value of the units was unknown at the time of the…


Financial Peace of Mind Newsletter, Vol. 2

The March 2012 Financial Peace of Mind Newsletter features articles from the Cassady Schiller Emerging & Established Wealth and Tax teams. David Cassady discusses the temporary opportunities to transfer wealth tax-free provided by Lifetime Gift Exemption. while Mike Hawkins reminds businesses of the vast opportunities presented by local, state, and federal tax incentives. Jeff Stautberg…


Opportune Time for Estate and Gift Planning

The federal estate, gift and generation-skipping transfer (GST) tax rules approved by Congress in December, 2010 are in effect during 2011 and 2012 only.  The Treasury Department announced in February 2011 that President Obama’s 2012 budget proposals presume several important changes in the rules that will take effect on January 1, 2013.  In “General Explanations…