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Planning for the Future for Your Small Business

Planning for the Future for Your Small Business

Jun 28, 2019
Succession planning is arguably the most critical issue a small business or a family business will face. In this blog post Elizabeth Brown outlines the the formula for a succession plan that protects your business and your family.
Vermont Estate Tax Update

Vermont Estate Tax Update

Jun 27, 2019
Vermont Department of Taxes imposes an estate tax on the transfer of Vermont estates of decedents dying while a resident of Vermont. Currently, Vermont law provides for a $2,750,000 exemption from an estate tax.
Congratulations! Your Child Just Turned 18...

Congratulations! Your Child Just Turned 18...

Jun 05, 2019
Congratulations! Your child just turned 18, they are an "adult" now, or at least in the eyes of the law. Don't let them leave the nest without asking them to sign two critical estate planning documents.
Captive Insurers’ Court Losses May End Tax Planning Method

Captive Insurers’ Court Losses May End Tax Planning Method

May 06, 2019
Internal Revenue Service enforcement actions against in-house insurers that elect not to pay tax on premiums.
Microsoft: What it means for captives

Microsoft: What it means for captives

Apr 25, 2019
By now, most in the captive insurance industry know about the Cease and Desist Order issued last year by the elected Washington Insurance Commissioner (the “Commissioner”) to Cypress, Microsoft’s Arizona-domiciled captive. The Commissioner ordered Cypress to stop transacting insurance and to pay Washington tax on its premiums, as well as interest and penalties. The dispute settled for $876,820, and Cypress issues its policies through a surplus lines broker.
Gary L. Franklin, Esq.

President's Column | Behold the Future

Mar 28, 2019
Vermont Bar Journal Spring 2019 President's Column, Behold the Future
Mythbusters?  Does the “Corporate Veil” Really Work to Protect Your Personal Assets?

Mythbusters? Does the “Corporate Veil” Really Work to Protect Your Personal Assets?

Feb 19, 2019
The protection a limited liability company ("LLC") is called the "corporate veil." This article will address ways to make the veil more difficult to pierce.
Keep Your Family Cabin in the Family

Keep Your Family Cabin in the Family

Feb 04, 2019
One option for the transfer of vacation home real estate is the use of Limited Liability Companies (“LLCs”). LLCs are quickly becoming the preferred entity for vacation homes because membership interests in an LLC are easily transferrable outside of probate, and LLCs provide for flexible operating agreements that allow for the parties to define individual’s financial duties, access, and responsibilities for the property. Unlike joint ownership that leaves all of these issues up to the individual owners to figure out on their own, an LLC allows the parents or the first generation of owners to decide how the property should be managed.
What is a Revocable Living Trust?

What is a Revocable Living Trust?

Jan 23, 2019
A Revocable Living Trust is a legal document often used as an integral part of an estate plan. A Revocable Trust is a document (the “Trust Agreement”) created by a person to manage assets during their lifetime and distribute the remaining assets after their death. A Revocable Trust allows for the person creating the Trust Agreement to manage the Trust, to receive benefits from the Trust, and to change the terms of the trust or evoke it.
Vermont's First Affiliated Reinsurance Company

Vermont's First Affiliated Reinsurance Company

Jan 18, 2019
Earlier this week, Vermont State Officials announced the formation of Vermont’s First Affiliated Reinsurance Company (ARC) by MAPFRE RE, a large global reinsurance company based in Madrid, Spain. Primmer Piper Eggleston & Cramer (PPE&C) attorneys Ralphine O’Rourke and Jesse Crary are the advising counsel to MAPFRE RE.