S corporation shareholder agreements should be carefully crafted by legal counsel in order to avoid certain events that can imperil the company’s S election. One important consideration is the language in the shareholder agreement related to nonvoting stock transfer restrictions.
Death isn’t something many want to think about, but estate planning is a complex topic with consequential decisions. Tolleson Wealth Management President Richard Joyner discusses what to think about and how to select a trustee in this episode.
A trustee’s job is to carry out the intent of the trust creator, using the trust document as a roadmap. Trustees and beneficiaries must work to build a mutually beneficial relationship to ensure long-term success.
In May 2021, the Treasury Department released its General Explanations of the Biden administration’s fiscal year 2022 revenue proposals, commonly referred to as the “Green Book.” They seek a dramatic increase in revenue through an increase in corporate and individual income tax rates and other re
Amid low interest rates and volatile asset values, high-net-worth individuals are taking a fresh look at a powerful wealth transfer tool—grantor-retained annuity trusts, or GRATs. When GRATs are used correctly, they can reduce estate taxes and allow grantors to gift assets free of tax.
President Biden’s tax proposals, while not enacted, are important to review and consider before any planning strategies are implemented in 2021 as they represent potential changes to current tax laws.
Waller Lansden Dortch & Davis (now part of Holland & Knight)
Tuesday, May 18, 2021
Over the past decade, Tennessee has significantly elevated its position as a preeminent jurisdiction to situs a trust. With the latest enacted legislation in the state, that situs status is maintained.
Lawmakers have passed the Corporate Transparency Act (CTA) to help in the ongoing fight against fraud, corruption, terrorism financing, and money laundering.
