AR&H News & Blog
Should You Utilize a Spousal Lifetime Access Trust (SLAT) Before the End of 2021?
A major shift during the 2017 Trump Tax Cuts was a creation of the doubling of the federal estate tax exemption to $11.7 million (as of 2021). However, contained within the Trump Tax Cuts was a sunset provision. The estate tax exemption would be reduced in 2025 to pre-2017 levels, i.e., $5 million per person. […]
Possible Estate Tax Changes Coming at the End of 2021
The House Ways and Means Committee recently introduced a wide variety of potential changes to the tax code. The Committee specifically proposed rolling back the 2017 Trump Tax Cuts. One of the potential tax law changes, that would take effect at the beginning of 2022, is a reduction of the Federal Estate Tax Exemption. The […]
Compliance Requirements for Private Fund Advisers
Compliance with securities laws involves a thorough understanding of the Securities Act of 1933. For example, if you have a private fund you need to be aware of two main exemptions from registration with the Securities and Exchange Commission (“SEC”): The first exemption is listed under Rule 506(b) of Regulation D. This rule states that […]
What Is a Private Placement Memorandum and Why Is It Important?
A Private Placement Memorandum (“PPM”) is a document used to inform and provide all the legally required disclosures for potential investors when offering the sale of a security. The Securities Act of 1933 provides that all offerings of securities must first be registered with the Securities and Exchange Commission (“SEC”). Exemptions to Registration There are […]
AR&H Earns Three Best Lawyers 2022 Awards ― Richard Paolo Named Lawyer of the Year
As one of the premier real estate legal firms in the Midwest, Aronoff, Rosen & Hunt continues to provide outstanding legal counsel to our clients. That’s why we’re pleased to announce that the 28th edition of The Best Lawyers in America once again honored three members of our legal team. Our 2022 Best Lawyers honors […]
Trusts — Answering 5 Common Questions to Help Your Estate Planning Strategy
As a Trusts and Estates Attorney, I hear many questions about estate planning strategies — including Trusts. There are several misconceptions about Trusts and how Trusts can be used to with a person’s estate planning strategy. This article will address five common questions about Trusts in Ohio. Do You Have to Give Away Control of […]
Are You Passing the Family-owned Business on to the Next Generation?
One of the most common ways to create intergenerational wealth is through family businesses and enterprises. However, there’s a common adage about family businesses and enterprises — the first generation starts the business, the second generation grows the business and the third generation loses the business. Unfortunately, this saying often turns out to be true […]
Important Information When Managing Estate Assets as an Executor or Trustee
One very important aspect to be aware of as an executor or trustee has to do with the managing of estate assets. Whether you are a trustee of a trust or an executor of a probate estate, you are sitting in a fiduciary capacity. Fiduciary capacity is a legal phrase which means that you must […]
How to Handle the Worry About the Irresponsible Son-in-Law or Daughter-in-Law?
Occasionally, families will have a conversation with me which will start similar to the following: “Our son (or daughter) is married to someone who we do not entirely trust. He (or she) has made numerous bad business and financial decisions. He (or she) has borrowed money a handful of time and never paid us back. […]
Can a Third-Party Administrator Be Liable for ERISA Breach of Fiduciary Duty? One Court Says Maybe
There are a lot of questions surrounding ERISA (Employee Retirement Income Security Act) fiduciary duties. Namely, who is a considered a fiduciary under the Act can sometimes be unclear. Generally, ERISA protects a retirement plan’s assets by requiring persons who exercise “discretionary control or authority” over plan assets. However, this fiduciary duty can extend to […]