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Howard Vigderman

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Nov 30

The Estate Tax Repeal Redux

A bit of tax history is in order.  In 2001 President George W. Bush signed the Economic Growth and Tax Relief Reconciliation Act of 2001 which eliminated what he had dubbed during his campaign the “death tax” … except it wasn’t a real repeal.  Under… Read More

Nov 14

Will My Facebook Page Join Me In Heaven?

What happens to your Facebook page, your Twitter account, your online banking and brokerage accounts and your emails when you die?  Who has access to these “digital assets” and who can use and control them or close them down?  This issue has been the subject… Read More

Oct 18

New Jersey Abolishes Its Estate Tax

Since 2002 New Jersey has imposed one of the highest, if not the highest, estate tax among those states which continue to impose an estate tax.  That is because its estate tax exemption of $675,000 was the smallest in the nation. That is no longer… Read More

Sep 23

Clinton Proposes Estate Tax Increase on Super-Rich

As reported in an article from today’s (September 23, 2016) Wall Street Journal, Democratic presidential nominee Hillary Clinton has proposed an increase in the federal estate and gift tax.  She would lower the federal estate tax exemption from the 2016 amount of $5,450,000 per individual… Read More

Sep 19

Estate Planning Isn’t Just About Dying

Over the course of thirty years as a trusts and estates lawyer I have drafted hundreds, maybe even thousands, of wills.  After all, that is what estates lawyer do – we help our clients memorialize the disposition of their assets when we they die.  Wills… Read More

Mar 17

Treating the Children who are Involved in the Business and those who are not, Equally

Your business is thriving. You have a strong management team to whom you can delegate decisions you had been making yourself for years. You take off every Thursday to play golf or to watch your grandchildren. ‎ You are thinking about taking off more time… Read More

Categories

Business Succession
Feb 10

Why A Handshake Agreement Among Business Partners Is Not Worth The Paper It Is Written On

You go into business with your sister, your father, your college roommate or your best friend.  The classic “we-started-in-the-garage” business. You struggle at the beginning – you do whatever you can to minimize overhead.  Lawyers are expensive so you decide not to put anything in… Read More

Feb 02

Demystifying Discounts

Discounts for lack of marketability and lack of control or minority interest are essential elements of the valuation of stock or other interests in a closely-held business.  They are factors which a prospective buyer will consider in determining how much to offer for such an… Read More

Feb 08

Disappearing Discounts

While the federal estate and gift tax used to be assessed at a maximum rate of the confiscatory fifty-five percent (55%) (and for a few years and for very large estates, an astounding sixty-five percent (65%)) it is now at the historically low figure of… Read More