Transfer of Closely Held Corporation
Representation of family-owned business in the redemption of the sole shareholder’s stock in exchange for a secured promissory note, passing ownership and control of the business from the mother to her children, and providing a stream of payments to supplement the mother’s retirement.
Transfer of Business with Secured Note
Counseling of a closely held engineering firm through the redemption of its founding shareholder’s stock for cash and a secured promissory note, effectively passing ownership and control of the business to the other shareholders.
Establishment of Supplemental Needs Trust
Representation of trustee in obtaining a judicial modification of an irrevocable trust to establish a supplemental needs trust.
Acceleration of Inheritance to Beneficiaries
Representation of the surviving spouse trustee in obtaining a judicial termination of an irrevocable trust to accelerate the inheritance to multi-generational family members and numerous charity beneficiaries.
Removal of Corporate Trustee Requirement
Representation of trust beneficiary in obtaining a judicial modification of an irrevocable trust to remove the trust’s corporate trustee requirement, obtaining consent of the resigning trustee and all qualified beneficiaries.
Nonjudicial Termination of Uneconomic Trusts
Representation of trustees in obtaining nonjudicial termination of uneconomic trusts, and distribution of assets to beneficiaries.
Second Marriage Estate Planning
Preparation of an estate plan for spouses in second marriage, providing for each other in addition to their respective children.
Treasury Regulation Compliance
Performed extensive review of a private foundation’s scholarship program to determine compliance with the relevant Treasury Regulations.
Charitable Trust Instruments
Preparation of amended and restated trust instruments governing both private foundations and public charities organized as trusts.
High Net Worth Trust Change of Situs
Representation of out-of-state high net worth trusts as to their change of situs to Florida.
Private Foundation Dispute Over Control
Representation of a court-appointed Temporary Trustee during litigation over control of a private foundation. Determined the amount of undistributed income, the distributees, and distribution amounts, and obtained court approval of same.
S Corporation Creation
Formation of an S corporation and preparation of a management agreement for consultant to provide a salary with no self-employment taxes on distributions to the shareholder.
Merger of Multiple S Corporations
Structuring and execution of a merger of law firm owners’ S corporations in connection with implementation of a future redemption of the senior attorney’s stock, funding the senior attorney’s retirement and passing control to the remaining shareholders.
Preservation of Homestead Property Tax Exemption
Successful preservation of homestead property tax exemption at the end of a QPRT’s initial term of years, through the execution of a 99-year lease, with a transfer of the property to an LLC subject to the lease.