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A guide to minimizing the after-tax proceeds from the sale of a family business. According to the article, legal exit preparations involve a 3-step process: due diligence investigations (i.e., public searches, review of minute books and key contracts, etc.); identify any 'skeletons' and consider what options exist to remedy or neutralize them; finally, create and implement a plan to manage these skeletons.

The benign legislative environment for trusts has been disrupted over the last decade or so by significant trust reform. The purpose of this article is to discuss the Uniform Principal and Income Act (the "Act") from the perspective of trust professionals.

New tax regulations from the Internal Revenue Service should have companies reviewing their business aircraft ownership structure and operations, according to a report from the law firm Wiley Rein. Depending on how this structure is set up, companies may find themselves subject to federal excise taxes on air transportation beginning January 1.

B&M Client Alert governing a New Exit Tax and other "onerous provisions" in expatriation tax rules.

This article deals with the use of the Delaware Asset Protection Trust to save taxes, protect assets, protect estate planning vehicles and provide options for non-resident aliens.

This paper will examine ways to lessen six of the greatest risks to preserving and enjoying multigenerational wealth. These six risks are: concentrating your assets, overspending, overusing leverage, poor tax planning, not attending to liabilities, ignoring family governance

While a single year may seem like a blink of an eye in the course of a human life, much can change over 12 months. With so many aspects of life constantly shifting, an estate plan created 10, five or even a mere two years ago cannot automatically be assumed to be appropriate for clients’ current situations. It is therefore important to review the estate plan annually to ensure that the right people and processes are in place.

This article addresses the complex U.S. tax rules governing cross-border grant-making by private foundations.

In today's world, domestic asset protection trusts can be a useful planning tool. However, under certain circumstances can be subject to intense scrutiny. Holland+Knight defines and outlines the case for domestic asset protection trusts.

This article highlights the fact that most wealthy U.S. families customarily choose individuals rather than trust companies to serve as trustee, even for complex trusts holding very substantial assets and even though a family who can afford it now has the option of creating its own trust. The article also argues that reliance on individual trustees carries the risk that it depends on an unbroken line of succession from one 'wise' (competent, diligent) trustee to the next, with little or no transition time or cushion to adjust for unexpected events.