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…
DetailsBy: 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…
DetailsBy: 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…
DetailsBy 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…
DetailsBy: 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…
DetailsAs expected, U.S. District Judge John Gleeson approved the proposed $5.7 billion class-action settlement in the underlying credit card swipe fees case between merchants and Visa/MasterCard. In his order on Friday afternoon, Judge Gleeson explained that he was satisfied with the settlement. NACS filed private antitrust litigation against the major credit card companies and banks…
DetailsUSA Today reports that e-commerce giant Amazon.com is “working on a new business” called Pantry that could help the company expand even further into the CPG market and “take on warehouse club stores” such as Costco and Sam’s Club. The newspaper reports that Pantry, run by Billy Hegeman, a senior manager in vendor management and…
DetailsThe Coca-Cola Co. is splitting its North America business into two operating units: Coca-Cola North America and Coca-Cola Refreshments. Effective Jan. 1, 2014, the new structure will help Coca-Cola streamline operations and accelerate its refranchising to independent bottling partners. J.A.M. “Sandy” Douglas will lead Coca-Cola North America and also continue his role as global chief…
DetailsHeeren Bros., Inc. held a ribbon-cutting ceremony on Wednesday, December 11, 2013 to celebrate the opening of its new $22 million state-of-the-art facility in Alpine Township. The event was held at 10:30 a.m. and allowed state legislators, township officials, contractors, vendors and neighbors to tour Heeren’s new 178,000-square-foot facility at 1055 7 Mile Road. Brief…
DetailsBy: Randall A. Denha, Esq.* When planning your estate it’s important to understand the difference between probate and non-probate assets. Probate is the process through which a court determines how to distribute your property after you die. Some assets are distributed to heirs by the court (probate assets) and some assets bypass the court process…
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