Deborah Carrivick’s Post

"I did not initiate the trusteed IRA idea and try to sell it to clients. Rather, my most wealthy and sophisticated clients had already zeroed in on this option and THEY sold ME on it." 💡 Here are 10 reasons why the wealthy sophisticated client who owns a trusteed IRA will be happier than the wealthy sophisticated client who owns a mass market over the counter custodial IRA. In short, who wants to mingle with hoi polloi (the custodial account masses), when one can enjoy the privacy, sophistication, service, control, and flexibility of a trusteed IRA? 💼 A Boston native, Natalie Choate is a graduate of Radcliffe College and Harvard Law School. She practices law in Boston, Massachusetts, with the firm of Nutter, and is listed in Best Lawyers. 🔗 https://hubs.li/Q02zwwyr0 #estate #estateplanning #finance #law #tax #legal #attorney #cpa #accounting #lawyer #retirement #trusts #wealthmanagement

In the wake of the Supreme Court's ruling in Connelly v. United States, business owners with shareholder agreements urgently need to review their succession plans. The Court held that life insurance proceeds used to fund stock buy-sell agreements must be included in the fair market value calculation for estate tax purposes, with no offset for the buyout obligation. This could significantly increase estate tax liabilities. To navigate this complex decision and mitigate potential tax burdens, contact the experienced attorneys at Hook Law Center. Our team, led by American College of Trust & Estate Counsel Fellow Andrew Hook with over 50 years of business succession and estate planning expertise, is available to review and restructure your shareholder agreements and related planning. Proper guidance from qualified advisors is crucial to protect your business interests and comply with the Connelly precedent. Don't delay - reach out to Hook Law Center today to ensure your buy-sell agreements and estate plan align with this new legal landscape.  #EstateTax #SuccessionPlanning #ShareholderAgreements #ConnellyDecision

You think you’ve set up your Power of Attorney & all will be ok but as this story explains often that’s not the case. And this is because many people have their money spread around including holding shares & this can become a nightmare when an Attorney takes over looking after your affairs. At our practice we handle all of your SJP holdings for you once we receive a copy of the LPA so you don’t have to worry. But for everything else as a Later Life specialist I always urge my clients to simplify things as they get older. Shares can be very troublesome & risky & having too many accounts spread across lots of places might be ok when you are younger but having it all in one or two places can be so much less stressful for you and your Attorneys. I help clients consolidate their assets so their investments are all with us with the right sort of risk & tax advantages, their cash savings with our partner Flagstone & they might then just have some Premium Bonds & a current account. So only 3 companies to deal with which makes life so much easier. Please do consider this as you or a relative gets older as a little planning in advance can save an awful lot of stress later. #laterlifefinances #sollaadviser #charteredfinancialplanner #powerofattorney

Last month, we tackled Pennsylvania’s “universal” demand requirement. As a refresher, unlike many states, Pennsylvania will not excuse the shareholder of a company who wants the company to sue its executives or directors from making a written demand on the company’s board of directors prior to filing a lawsuit even when doing so would be futile. “Futility” means that the composition of the company’s board makes it incapable of impartially deciding whether to bring suit on behalf of the company based on the wrongful conduct alleged by that shareholder in their demand. Normally, if such a demand would be futile, a would-be shareholder-plaintiff can skip the written demand and move straight to filing their lawsuit.

A really useful session for anyone interested!

Happy Monday Everyone! In this week's edition of Dollars & Sense we wanted to tackle the question of "Does Money From A Trust Count As Income"? Check out the video by the founder of both Keystone Law Firm and Lifestyle Planning, LLC! https://lnkd.in/gdc4paGt We hope you have an amazing Monday! Disclosure: Lifestyle Planning is a Registered Investment Adviser. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance.

Transferring Wealth across generations has long-standing effects not just on the Business Family but also on society. Here, I describe the main legal rules shaping such decisions, how families are actually reducing their exposure to these rules, and what the evidence says about the impacts on their firms and society. It was an honor to contribute to the Elgar Encyclopedia of Family Firms. I want to give special thanks to Allan Discua Cruz and Carole Howorth for inviting me and to the reviewers for their valuable feedback. Check all the fantastic articles here: https://lnkd.in/dWrecadU

Family trusts and family investment companies can be useful tools to help control the distribution of family assets and distribute them in a tax efficient way, safeguarding them for the next generation.   Last week, Personal Law Partner Ann Christian and Corporate Law Partner Cathy Cook delivered a webinar with Paul Davison, Director at PD Tax Consultants to explain how they work and advise business owners and families with business interests on making the most of them.   🔉 Unmute below to hear more. To watch the full recording, visit: https://lnkd.in/ezaWUv9U   #BusinessOwners #FamilyBusiness #Succession #TaxPlanning #LawFairSquare

Many of our clients choose to name themselves as the trustee of their trust. But it's important to plan for when someone else needs to take over Dividing the responsibilities between two or more successor trustees can be helpful, especially based on skills or experience. For example, you may choose to have an investment trustee manages accounts and property, while a distribution trustee handles decisions about distributing trust funds to beneficiaries. Dividing responsibilities is particularly useful for maintaining family harmony and reducing conflicts between trustees and beneficiaries. In some circumstances, adding a second trustee can provide greater asset protection and help minimize taxes. The experienced estate planning attorneys at the Law Offices of DuPont and Blumenstiel can help you create a trust that serves YOUR unique needs and goals. Call us today at 614-389-9711 to schedule an appointment. #estateplanning #trustee #law

We are pleased to announce that Jonathan K. and Douglas Curran, versatile commercial litigators with national practices, have joined Anderson Kill as shareholders in New York and co-chairs of the newly formed Financial Litigation & Complex Disputes practice group. Jonathan and Douglas together have decades of experience advising clients in litigation involving complex financial instruments, investment vehicles, funding agreements, commercial contracts, and post-closing rights under M&A agreements, among others. They are noted for their track record of navigating complicated and high-stakes disputes. Please join us in welcoming them! Click the link below to read their full press release.   #financiallitigation #financiallitigator #complexdisputes #contractuallaw #MandA