Kentucky Estates: articles on estate planning issues
In our previous post, we used a case study of the hypothetical Widget family to illustrate the unintended discord families can face when the founder’s descendants are “frozen in” to the family business. There are many approaches the founding generation can use in its own planning to avoid “freeze-in”. A funded buy-sell agreement can be […]
Every stage of the family business “life cycle” presents its own distinct challenges. Entrepreneurs commonly give tremendous energy and attention to growing the business during the prime of their own careers, and rightly so. Prudent business owners also look ahead to their own retirement, and transitioning the business to a new generation of management, whether […]
Our previous post on per stirpes and per capita discussed a case study for Don and Betty Draper’s dysfunctional and very entertaining fictional family. Per stirpes or per capita distributions are important decisions, though, at almost all levels of wealth – certainly not only the “rich and famous”, but also the “modest and hardworking.” Marion […]
“Per capita” and “per stirpes” aren’t just Latin phrases estate planning attorneys use to try to look smart. They can produce very different results for the flow of family assets. Understanding the difference between the two approaches in an estate plan, and choosing the right one for your family’s situation, can avoid unpleasant and expensive […]
Mad Men Season 4 has ended, and we’re all trying to evaluate whether or not Megan is a good idea. That’s the truly significant question, but it’s a long time until Season 5 begins, which means that the T&E Community needs to get back to business as usual, even on a Sunday night like this […]
KYEstates often dicusses asset protection developments, and we’re pleased to share a really fascinating Florida decision, Miller v. Kresser, — So.3d —, 2010 WL1779899 (Fla. 4th DCA 2010). Juan Antunez broke the news that this is surely a season of May flowers for asset protection planning. There won’t often be victories for pure judicial formalism […]
Readers, thank you for your patience. A tax season full of 1065s, 1041s, and 709s reduced posting frequency at KYEstates during the last two weeks. But we have been hard at work on something really good, something we hope will be quite useful. We’re proud help your Florida residency planning with our Florida v. Kentucky residency […]
Since late December, when it first appeared that estate tax repeal would actually happen, estate planners nationwide have been discussing its potential negative consequences. Consider this fact pattern: a second marriage, and a normal A-B estate plan. The plan uses a formula allocation clause directing the greatest amount of assets that can pass free of estate […]