Family Businesses

D&D maintains a significant practice advising families in connection with their lifetime accumulation of assets and the use of the most tax-efficient techniques to liquefy such assets in a sale for cash and/or stock, and transfer of such assets to future generations and/or charity. For those families who own or control a privately-held business, we provide advice on the alternatives available for orderly succession within the family or to the management team.

In this connection, we have significant experience in:

• Advising families in connection with sales of their businesses in the most advantageous manner from a tax and post-closing liability standpoint -- this is where achieving the goal of "keeping" as much as possible from what one "makes" is paramount;

• Designing estate plans for individuals, including the drafting of wills, powers of attorney, living wills and healthcare designations and revocable living trusts

• Designing plans for lifetime transfers of assets both outright and by means of irrevocable trusts, including the drafting of irrevocable insurance trusts, QPRTs, GRATS, QTIPs, IDGTIs, family limited partnerships, charitable remainder trusts, charitable lead trusts and private foundations; and

• Negotiating and drafting of plans for business succession, including cross purchase agreements, stock redemption agreements and buy-in agreements, often funded with life insurance.

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