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    Partner

    John is Chair of the firm's Estate Planning Department. He also leads the firm's Senior Partner Committee, and is a member of the firm's Finance Committee. John, a former Certified Public Accountant, began his career in the tax ...

Posted in Estate Planning

With the incoming Trump administration having a Republican majority in Congress, one can expect attempts at significant tax reform. Among these reform efforts is a push to repeal the federal estate tax. While unexpected, the effort appears to have momentum.

In late January 2017, Senator John Thune and Representative Kristi Noem, both from South Dakota, introduced substantially ...

Posted in Estate Planning

The end of each year inevitably brings a flurry of activity for everyone. But amid the hustle and bustle, don’t forget to take advantage of the current tax breaks offered under estate and gift planning laws. If you miss these opportunities, they may not present themselves again!

Posted in Estate Planning

Some years ago, I represented family members in a dispute over a tax payment clause contained in a will. The will was prepared by a lawyer who did not take into consideration the disastrous ramifications that can occur if care is not taken with respect to payment of estate and inheritance taxes in an estate plan.

The decedent was in a same sex relationship with his longtime life partner. In ...

Posted in Estate Planning

In the new Legal Forum Column, John S. Lueken discussed several benefits of estate planning with a GRAT. Read his advice below and don’t miss our monthly Legal Forum Column in Louisville Business First.

Posted in Estate Planning

The generational transfer of wealth is a complex issue facing many high net worth individuals that requires meticulous planning and the balancing of competing interests. On one hand, wealthy individuals desire to protect their wealth and reduce transfer taxes to the greatest degree possible. On the other, these same individuals are understandably reluctant to cede present control ...

Posted in Estate Planning

The end of each year inevitably brings a flurry of activity for everyone. But in the midst of the hustle and bustle, don’t forget to take advantage of the current tax breaks offered under estate and gift planning laws.

Posted in Estate Planning

If you are in the honeymoon phase of business ownership, you don’t want to think about the possibility of your perfect partnership fizzling in the future for reasons unknown. But protecting yourself and your family’s business interests through a buy-sell agreement is simply the smart thing to do.

Likewise, if you are eyeing retirement, you need to plan so that your business not only ...

Posted in Estate Planning

In this month’s Louisville Business First Legal Forum Column, BGD partner John S. Lueken discusses the legal necessity of buy-sell agreements to protect the interests of business owners. Read his advice below and don’t miss our monthly Legal Forum Column in Louisville Business First! 

The end of each year inevitably brings a flurry of activity for everyone. But in the midst of the hustle and bustle, don’t forget to take advantage of the current tax breaks offered under estate and gift planning laws. If you miss these opportunities, they may not present themselves again!

Updated from article that first appeared Feb. 21, 2012, on the Central Indiana Community Foundation Website 

The Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 (TRA 2010) increases the federal gift, estate and generation skipping transfer tax exemptions to $5 million (plus an adjustment for inflation, for 2012). However, as of Jan. 1, 2013, such exemptions will fall to $1 million (except that the generation skipping transfer tax exemption will be higher, after an adjustment for inflation). The obvious tax planning implication of TRA 2010 is that it may make sense, from a “death tax” planning standpoint, to gift assets for the benefit of family members in 2012, in order to (i) utilize the higher federal transfer tax exemptions while they are “certainly” available, (ii) remove future appreciation from the federal taxable estate, and (iii) possibly reduce Indiana inheritance taxes.

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