Federal Gift, Estate and Generation Skipping taxes have long been subject to a unified exemption. Transfers are cumulative. A gift tax return must be filed reporting the cumulative transfers and exemption consumed from prior and the current year returns. Tax is...
Gregory and Adams Legal Blog
Buyers beware: what to know about FSBO transactions
Homes for sale by owner ("FSBO") transactions are growing in popularity due to the recovery of the housing market. To avoid the cost of paying a commission, many homeowners attempt to sell their properties without help from a real estate agent. As a buyer, it is...
Considering an Acquisition in 2019? Three Due Diligence Tips.
Business growth can occur in many different ways. Those who are considering a merger or acquisition to jump-start their growth in 2019 can benefit from the following tips. Why business owners may consider a merger or acquisition: Acquiring or merging with another...
Don’t deal with important real estate law decisions alone
Real estate is one of the biggest investments your business will make. Unfortunately, Connecticut real estate law can be incredibly complicated, and making the wrong decision can have a profoundly negative impact on your future operations. In all matters of real...
SCOTUS to review state taxation of trust income
The Supreme Court of the United States (SCOTUS) has agreed to hear a case that questions the ability of a state to tax trust income when the trust is located in another state. The case begins with a father who created a trust in New York to guide the transfer of his...
Trusts help create better estate plans
Dealing with end-of-life matters can be a tricky subject for some people. You may feel uncomfortable thinking about your later years and eventual death, or perhaps you have particularly complex assets that feel too overwhelming to include in an estate plan. With the...
Business succession planning: A few things to think about to get you started.
If you are like a lot of business owners, you have put in countless hours over a number of years to build your business into the enterprise it is today. You've put in way too much time and effort to let your business wither or fall into the wrong hands when you...
Land use litigation: Three hurdles to settlement
It is not uncommon for disputes over land use laws to end up seeking resolution through traditional litigation. There are many hurdles that can make negotiating a settlement in these cases difficult. Three hurdles that often keep the parties from reaching a settlement...
What to include in an operating agreement for your LLC
Creating an operating agreement helps you and your partners establish the operating rules for your business. It also can prevent future arguments and protect your business interests. This is particularly important in Connecticut because of the new Connecticut Uniform...
Can land use laws in CT stop development of my own property?
Connecticut landowners, like landowners everywhere, believe that they should be able to do what they wish with their own property. Unfortunately, there are limitations. Lawmakers have passed land use laws and regulations that govern what is and is not allowed in terms...
