Well first of all, everyone already has an estate plan. How so?Because if you die without a will, the law predetermines what happens to your unassigned assets (“intestacy laws”). In other words, in all states plus Washington, D.C., if you don’t create an estate plan, the government automatically has one in place for you upon…
Is the cents-per-gallon metric costing the c-store channel millions of dollars in fuel profits? Picture that 20-ounce bottled soda in your store cooler. So enticing on a hot day. The sweat of condensation dripping as you pull it off the shelf. Now consider how you determine its value to your business. You price out the…
The center aisles have long been where supermarkets showcased their sales, but now the perimeters are getting their due, the New York Times reports. “You can pretty much be in Anywhere, U.S.A., in center store, but the perimeter is the fashion side of the grocery business,” said Sharon A. Lessard, chief designer at Supervalu, which…
By: Randall A. Denha, J.D., LL.M.* Estate Planning is not always about transfers at death. While there are many tools you can use to protect your assets and ensure your loved ones receive as much of your legacy as possible, gifts inter-vivos — during life — are one of the simplest and most useful. Incorporating…
By: Randall A. Denha, J.D., LL.M.* Do you know how to transfer a significant amount of wealth to the next generation at a discounted value for gift tax purposes? The answer is to form either a family limited partnership (FLP) or a limited liability company (LLC). Before doing so, however, be aware of the step…
By: Randall A. Denha, J.D., LL.M.* For many family-owned businesses, the transfer of a business to the next generation gives rise to two unique sets of challenges. The transfer of wealth and the transfer of power to the next generation are both crucial to the long term health of a family-owned business and the family…
By: Randall A. Denha, Esq. Clients should be making their Section 2503(b) or “annual exclusion” gifts, if they have not done so already. A donor can use the exclusion to gift an amount ($14,000 per donee in both 2013 and 2014) to as many donees as the donor wishes in any given year. Many clients…
By: Randall A. Denha, J.D., LL.M.* While many of us are contemplating year end income tax maneuvers, there, there are also estate tax planning opportunities that should not be overlooked. Below are are some to consider. Annual Exclusion GiftsIn 2013, the annual gift tax exclusion increased from $13,000 to $14,000 (married couples can now give up…
By Barbara Soderlin / World-Herald staff writer With growing selections of healthy snacks, store brands, recipe apps and international flavors, supermarkets will evolve in 2014 to better meet consumers’ desires to save money, save time, eat healthfully and enjoy their food while doing it, a supermarket expert predicts. The “Supermarket Guru,” ConAgra Foods consultant Phil…
By: Randall A. Denha, J.D., LL.M. Have you ever wondered, what is the one thing people don’t do but should, when it comes to year-end estate planning activities? Here are four items that come to mind based on my experience over the last 17 years as a trusts and estates lawyer: 1. Review your health…