The rising cost of college can be a deterrent for many families in deciding whether to send their child to school or not. Although the Federal Government has created a host of programs and grants to aid students, it still might not be enough and colleges and universities continue to raise the expenses. Brian T. Whitlock explores the potential value Code Sec. 529 savings accounts may have on your family and the benefits it can provide with paying for secondary education.

Brian Whitlock explains why a Donor Advised Fund may be a better choice in donating to a public institution.

The U.S. Supreme Court recently affirmed the decision of the 8th Circuit Court of Appeals that contractual obligation to redeem the stock of a closely held corporation did not create a liability that would offset the value of the life insurance policies that were owned by corporations. In this article, Brian Whitlock addresses the recent Supreme Court decision on entity redemption agreements that are funded with life insurance policies owned by the redeeming entity. Brian examines the result of this decision and cautions what family business advisors can do potentially help their clients.

In part II of his article, A Practical Guide to Life Insurance, Brian Whitlock continues his in-depth review of life insurance, this time focusing on the income and estate tax aspects. He explores potential traps with how life insurance contracts should be owned and where death benefits should flow.

Brian Whitlock breaks down Life Insurance in his recent TAXES – The Tax Magazine article, “A Practical Guide to Life Insurance – Part I: Understanding Terminology and Uses”.

Brian T. Whitlock analyzes the recent ruling in Soroban Capital Partners LP and its consequences in his recent TAXES – The Tax Magazine article, “Soboran and the SECA Calculus on Flow-Thru Entities.”

Brian T. Whitlock examines essential tax planning strategies in his recent TAXES – The Tax Magazine article, “Pre-Mortem Income Tax Planning.”

Brian T. Whitlock explores tax planning strategies in his recent TAXES – The Tax Magazine article, “Junk Money: Pitfalls and Opportunities.”

New and part-time business ventures frequently experience start-up losses. With a solid business plan and good recordkeeping, entrepreneurs will be better equipped to develop their businesses and safely deduct their early losses. Brian T. Whitlock examines the intricate details of tax regulations and offers insight on how to make informed decisions.

With the proper strategies and utilizations of tax code provisions, estate planners can properly prepare their small business clients for any situation. Brian T. Whitlock explains how prudent estate planners and business succession planners can judiciously arrange their clients’ affairs and avoid potential pitfalls.

This planning requires an understanding of the three elements of the “Devil’s Triangle:” Fiduciary Accounting Income, Trust Taxable Income and Distributable Net Income.

Buy-Sell agreements help eliminate uncertainty with regard to the succession of ownership in the event of an extraordinary circumstance like death, divorce or bankruptcy.

Golan Christie Taglia attorney Brian T. Whitlock provides an overview of various types of Buy-Sell agreements.

Golan Christie Taglia attorneys Leynee Cruz FLorez and Brian T. Whitlock co-authored an article for CNA where they discuss available avenues for correcting errors made when filing tax elections and best practices for reporting errors to clients as well as accounting and legal malpractice carriers.

GCT welcomes Brian T. Whitlock as counsel in the firm’s Estate Planning & Taxation Group.