Troy, MI
Estate planning Lawyer at Troy, MI
Practice Areas: Estate Planning, Wills & Living Wills ... +2 more
One of the chief concerns facing family business owners is how to effect an orderly and affordable transfer of the business to the next generation and/or key employees. Failure to properly plan for a...
See Full GuideLevel One: The Basic Plan The situation for level one planning is that you have no will or living trust in place, or your existing will or living trust is outdated or inadequate. The objectives for...
See Full GuideAsset Protection Outside Protection. The FLLC accomplishes the goal of protecting the members personal assets from business risks. Members of an FLLC are generally not liable for the debts, contra...
See Full GuideFor estate planning purposes, a family partnership is typically a limited liability company or a limited partnership. A limited liability company (LLC) is an entity that combines the limited liabili...
See Full GuideFunding the Buy-Sell Agreement Guaranteeing sufficient funds with which to purchase the interest of a deceased, disabled or withdrawing business owner is an important part of buy-sell planning. A ...
See Full GuideThere are several reasons for business owners to enter into buy-sell agreements with their partners or co-shareholders: (1) to create a market for the owners business interest at certain triggering ...
See Full GuideMany beneficiary-controlled trusts are designed as generation-skipping trusts. In 1986, Congress (recognizing that the IRS was losing billions in estate taxes) attempted to thwart generation-skippin...
See Full GuideEstate planners use trusts to protect beneficiaries from their inability, their disability, their creditors and their predators. Included under creditors are the IRS and divorced spouses. Most tradi...
See Full GuideAlthough it may not be cited as precedent, PLR 200949012 provides planners with a road map on how to properly design a BDIT. Following are the facts in PLR 200949012: The grantor proposes to crea...
See Full GuideThe benefits of an intentionally defective grantor trust (IDGT) are well known. First, the grantors payment of the trusts income taxes is essentially a tax-free gift to the beneficiaries of the trus...
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