Many of our clients are charitably inclined, and incorporate charitable planning into their overall estate planning. This can be as simple as making gifts to charities during life or via specific bequests in a Will. In addition, clients create donor advised funds and family foundations. They also implement charitable remainder trusts and charitable lead trusts
Steven M. Saraisky
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The Insurance-Only LLC – A Consideration for Buy-Sell Agreements
By Steven M. Saraisky on
Posted in Business Planning
When business owners have partners and consider their succession planning, the topic of a buy-sell agreement comes up. This post discusses the possible use of an “insurance-only LLC” as part of a buy-sell.
A buy-sell agreement sets the terms of a buyout of one partner by another partner or partners if one partner leaves the…
Common Errors that Arise during an Estate Administration
By Steven M. Saraisky on
Posted in Estate Planning
In our busy practice, we tend to see certain recurring errors. In particular, we see planning errors that arise during the estate administration process after someone dies. Below are a few of these common errors, and, in the spirit of, “An ounce of prevention is worth a pound of cure,” we also discuss steps that…
“Accidental Americans” Must Pay US Tax on Worldwide Income and Provide Detailed US Tax Reporting
By Steven M. Saraisky on
Posted in Tax
We have had several matters recently with “Accidental Americans” – that is, non-US persons who became US tax residents by staying in the US for a sufficient number of days.
This frequently happens in an understandable way, and involves a non-US person who has family in the US. The non-US person comes to visit his…
Starting an Active Business in an Opportunity Zone
By Steven M. Saraisky on
Posted in Legislation, Tax
This short article outlines the requirements for starting an active business in a qualified opportunity zone (“QOZ”).
The US tax legislation that created QOZs was enacted in early 2018, and is intended to encourage long-term investment in economically distressed communities. The IRS issued two substantive sets of proposed regulations outlining rules for QOZ investments (in…