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How to Obtain the Maximum Benefits from a Corporate Trustee                                                                         A corporate trustee, such as a trust company or a […]

How Intentionally Defective Grantor Trusts Can Reduce Federal Estate Taxes The use of an intentionally defective grantor trust (IDGT) is a clever and efficient way to transfer wealth to your children or future generations, remove assets from your estate, and reduce potential federal estate taxes. In fact, not only can you achieve favorable results with an initial seed […]

Creative Commercial Financing Introduction In recent years, privately held companies have had difficulty obtaining appropriate financing for startups or expansions. Many traditional banking channels refuse to make commercial loans. Others will not lend enough or will only provide a rigid set of unacceptable terms. In today’s economy an entrepreneur must shop nationally and internationally. An entrepreneur must offer creative […]

                                       The Critical Need for Long Term Care Insurance Don’t be blindsided by the need for long term care. With rising numbers of senior citizens in the U.S. population, long term care for a loved one will become […]

Enforcement of Restrictive Covenants in Employment Agreements I. Introduction Restrictive covenants in employment contracts are vital tools that enable employers to protect  their trade secrets and customer base after an employee has been terminated or resigns.  A restrictive  covenant is a section contained in an employment agreement in which the employee agrees to refrain  from […]

The Advantages of Alternative Dispute Resolution (ADR) to a Closely Held Business In recent years, alternative dispute resolution (“ADR”) has become the buzz words for business disputes. ADR generally means providing a solution to a dispute other than through the traditionally federal, state or county instituted court systems. There are generally two types of ADR: 1) mediation; and, […]

How to Retain Key Senior Employees – “Golden Handcuffs” In the new economic environment where margins have been slashed and companies are trying to increase their market positions in an increasingly global market it is extremely important to retain key employees and make the most of their experience, know‐how and business acumen.  It is a major detriment to the […]

Hot Topics in Wills and Estate Planning      I.         Use of Memorandums for Leaving Tangible Personal Property With Sentimental Value for Loved Ones If you have collections of jewelry, art, stamps, memorabilia, or other specific belongings with sentimental value, then an“incorporation by reference” of a memorandum specifically disposing these assets should be considered. An […]

Hot Topics in Employment Law   I.        Terminating An “At‐Will” Employee In Pennsylvania, absent contractual provisions to the contrary, employees are considered “at‐will,” which means either party can terminate the employment relationship at any time for any reason or no reason. The trick is to avoid pitfalls creating situations where the “at will” employment status is relinquished.    There […]

Employers: Beware the Protection of Electronically Stored Information in the New Technological Age Pre‐Trial Litigation Discovery of Electronically Stored Information Similar to how many employees may place themselves in unintended jeopardy from their reckless use of Facebook, Twitter, and other social media sites, employers should take heed to watch what their employees, voluntarily and involuntarily, transfer electronically. […]

Federal Estate Tax Changes After a long year of watching and waiting what would be done with the Federal Gift and Estate Taxes, Congress finally decided what to do, well sort of…. We did not receive the long‐term permanent solution expected to bring more certainty to clients planning their estates and for estate planning practitioners, but we received […]