June 22, 2016
Hollis Russell, head of the firm’s trust and estate practice, recently chaired a committee presentation before the Business Planning Committee of the American College of Trusts and Estate Counsel (“ACTEC”), in Boston, Massachusetts. The session addressed the use of limited liability companies in tax-leveraged transactions for estate planning purposes.
Mr. Russell has been a fellow of ACTEC, the leading national bar association for trusts and estates attorneys, since 1997. He is a member of the ACTEC Business Planning Committee and chairs its Model LLC form subcommittee, which is currently updating its primary form, pending issuance of so-called “Section 2704(b)” Regulations by the Internal Revenue Service affecting valuation discounts for LLC gift transactions.