Successful Estate Planning (and Lower Inheritance Taxes)

Our estate planning and business attorneys met and guided the patriarch of a family run commercial building products provider and installer in Philadelphia through the process of gifting the ownership of his business to his sons and business partners as part of his estate and business succession planning. Contemporaneous with the gifting was the execution of a long term employment and private pension agreement securing a sizable income for the client and his wife for the rest of their lives. The planning steps reduced the size of his estate and the resulting inheritance taxes that his sons will have to pay. It also provided financial security for he and his wife allowing them to maintain the lifestyle that they desire.


Business Advisory Group attorneys met with the owner of a Bucks County based business that is a leader in the coating application industry, which provides local, national and international products for the oil, gas, and water industries. Our attorneys developed an estate plan with generational trusts for the owner’s descendants, financial power of attorney and healthcare power of attorney, and succession plan for the business to minimize taxes and maximize asset protection.

Questions Every Business Must Ask

Q. Has your business recently reviewed its legal structure to determine whether it is set up in the most advantageous manner for legal and tax purposes, considering recent developments and changes in the law?

Q. Do the owners of your business have a current, updated buy-sell agreement which controls how ownership interests in the business are to be transferred in the event of an owner’s death, disability or termination of employment?

Q. Have the owners of your business developed a succession plan to define how ownership and authority will transition upon the death or retirement of the present owners?

Latest News & Events

“Framework” For Proposed Federal Tax Law Changes is Released

By Jonathan Samel, Esq. On September 27, 2017, the Trump Administration and select members of Congress released a “unified framework” for tax reform. This document provides more detail than a number of other tax reform documents that have come from the Administration over the past few months, but it still leaves many specifics to be… Read more »

Supreme Court Rules that Former Employees Have No Right to Review Their Personnel Files

by Ethan R. O’Shea, Esq. On June 20, 2017, the Pennsylvania Supreme Court settled the issue once and for all as to whether former employees are entitled to review their personnel files after their discharge. They are not. Pennsylvania’s Personnel Files Act (“Act”) controls access to employee personnel files. In the case of Thomas Jefferson… Read more »

Business Advisory Group Hosts ““To Catch a Thief: Understanding the World of Trade Secrets and Making Non-Competes Work for You”

The Business Advisory Group hosted a free program at the firm entitled: “To Catch a Thief: Understanding the World of Trade Secrets and Making Non-Competes Work for You” on Wednesday, June 21, 2017 from 8:00 – 10:00 am. How do you protect proprietary information and your client base in the face of a key employee’s departure?… Read more »