Proposed Regulations on the SECURE ACT
By: Attorney Thomas A. Griesbach Earlier this year the IRS released proposed regulations on the SECURE ACT. The SECURE ACT made drastic changes to the rules governing inherited retirement accounts, effective January 1, 2020, but there has been little guidance from the IRS on the Act’s provisions until now. The SECURE ACT seemed to replace …
What’s Wrong with Online Will Forms?
By: Attorney Gina C. Ziegelbauer These days there are several websites offering online do-it-yourself legal forms that promise easy, inexpensive legal forms. One such website says “there’s no easier way.” However, the biggest problem with these sites is they cannot provide any advice. When it comes to estate planning or business formation, there is a …
2021 Business Transactions Year in Review
By: Andrew Steimle, Esq. 2021 was the busiest year ever at Steimle Birschbach in terms of the number of transactions closed. It was the second highest year in terms of total transaction dollar amounts. We attribute this to a few consistent themes. First, there was significant concern about a potential change in tax rates. As …
What Happens To My Belongings When I Die?
By: Attorney Gina C. Ziegelbauer When someone dies, one of the first things loved ones are faced with is what to do with all of physical things your loved one owned. Sorting through a loved one’s tangible personal property can be an overwhelming task depending on how much stuff there is, the value of the …
“Leave the Gun. Take the Cannoli.” Structuring Your Business Purchase to Avoid Taking On Unwanted Seller Liabilities
By: Attorney Samuel J. Spurney “Leave the Gun. Take the cannoli” is arguably one of the most famous lines in movie history. In the movie, The Godfather, Peter Clemenza – fictional hitman for the Corleone crime family – utters this line after avenging the betrayal of the Corleone family by one of its members. Asset …
Federal Estate Tax Law Changes- Stalled or Dead?
By: Steimle Birschbach, LLC 2021 On September 24, 2021, we posted a blog entitled “Federal Estate Tax Law Changes Are Near” that summarized the provisions of draft legislation approved by the House Ways and Means Committee on September 15, 2021, that would have made drastic changes to the federal estate tax law. Many practitioners and …
Federal Estate Tax Law Changes- Stalled or Dead? Read More »
Farm Succession Planning
By: Attorney Michelle L. Birschbach Simply transferring a farm to the next generation is quite easy. Successfully transitioning a farm business for the mutual benefit of all parties involved, however, is much more complicated. It takes time, planning and the weighing of a multitude of considerations. Step One is to identify the successor. Will the …