XPX New York - Trust and Estate Planning: How Business Owners Can Keep What They Have Earned

Gordon Stone and Melissa Milich with Kozusko Harris Duncan will lead a discussion covering both fundamental and advanced US income and estate planning strategies for our business owner clients. They will outline how Jim Murphy and his brother, the owners of Murphy's Metal Manufacturing, LLC (our 2017-2018 case study business), can use various strategies to facilitate business succession, reduce income, gift, and estate tax liabilities, and address family concerns. The discussion will review some of the more common income and estate planning strategies, including use of DINGs, gifts to charity, valuation discounts, IDGTs, GRATs, and CRTs.

Gordon P. Stone, III concentrates his practice in the area of wealth transfer and income tax planning for high net worth individuals, including owners of closely-held businesses, real estate developers, investors in private equity and hedge funds, entertainers and artists. In addition to the preparation of wills and trust agreements, Gordon frequently represents fiduciaries, including individual and corporate executors and trustees, and beneficiaries in a wide variety of complex issues arising in the administration of estates and trusts. Gordon is admitted to practice in New York and Connecticut and frequently lectures on topics of interest related to his practice and has published articles in Estate Planning magazine and for the New York Society of Certified Public Accountants. He received his JD from Pepperdine University School of Law in 1993 and his LL.M. from New York University School of Law in 1999. Gordon graduated from the University of Virginia in 1987.

Melissa B. Milich practices in the areas of estate planning and administration, trust administration, charitable giving and sophisticated income, gift and estate tax planning. She also represents high-net-worth individuals in family law matters, including the negotiation of prenuptial and postnuptial agreements, and individuals and fiduciaries in trusts and estates disputes. In addition, Melissa advises not-for-profit entities regarding formation, administration and dissolution. Melissa received her J.D. (magna cum laude) from Fordham University School of Law in 2013 and her LL.M. from New York University School of Law in 2017. Melissa received her B.A. (magna cum laude) from the University of Pennsylvania in 2010. Melissa is admitted to practice in New York.

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