Author Archives: Mark Van Heukelom

Impact of IRS Regulations & Federal Election on Family Business Gifting Strategy

In August, the Internal Revenue Service announced proposed regulations that would effectively increase taxes imposed on lifetime and post-death transfers of ownership interests in family businesses. These proposed regulations would impact high net worth clients who own family-controlled corporations, Limited Liability Companies (LLCs), Family Limited Partnerships (FLPs), and similar entities.  For purposes of this article, Continue reading

Small Estate Affidavit Allows Institutions to Transfer Property to Survivors With Ease

Financial institutions regularly confront questions on how to distribute property following the death of an account holder. A handy Iowa law creates a simplified procedure for property distribution where the decedent has a small estate. In short, the successor in interest to the decedent’s property may present a Small Estate Affidavit to the financial institution Continue reading