Barry Siegal supervises the planning of estates for business owners, executives and professionals. This typically involves income and estate tax minimization, asset protection planning and business succession planning.
His approach is to get a full appreciation for the client's needs and objectives and design the plan around those needs and objectives.
Barry’s background as a CPA and tax attorney provides him with a unique insight into the planning of clients' estates that helps him achieve their goals. Barry also help plan estates for unmarried couples with significant wealth.
Barry consults with business owners with regard to structuring their businesses to achieve maximum tax savings, assisting in implementing deferred compensation and stock ownership programs for key employees, consulting relative to sales and acquisitions of businesses and business succession planning.
Barry’s practice is concentrated in the following areas:
- Representation of closely held businesses, from start-up issues, to maintenance, to business succession planning, with particular emphasis on tax related matters
- Estate planning and probate with specific emphasis on: creative estate tax planning for high net worth individuals; Asset protection planning for physicians, traders, real estate developers and real estate investors
Estate planning for non-traditional families; premarital agreements, cohabitation agreements and domestic partnership agreements - Non-profit law: representation of non-profit entities including public charities, private foundations and charitable trusts
Before joining GCT, Barry was a member in the firm of Stahl Cowen Crowley Addis LLC, and was chairman of their trusts and estates department. From 1980 until 2002, Barry managed his own law firm, Barry P. Siegal Ltd.
Barry has written and spoken extensively to professional and civic groups on issues such as: Estate Planning in an Uncertain Environment; Estate Planning for the Non-Traditional Family; Asset Protection Planning; and Business Succession Planning.
Barry was an adjunct professor in Estate Planning at DePaul Law School.
EDUCATION
Northwestern University, J.D., cum laude, 1968
Journal of Criminal Law, Criminology and Police Science Editor
University of Illinois, B.A. in Accounting, with honors, 1965
Certified Public Accountant, 1965
BAR ADMISSIONS
Illinois, 1969
PROFESSIONAL AFFILIATIONS
Chicago Bar Association
Chicago Estate Planning Council
Greater North Shore Estate and Financial Planning Council
Illinois CPA Society
Illinois Bar Association
Northwest Suburban Estate Planning Council
COURT ADMISSIONS
U.S. District Court, Northern District of Illinois, 1969
HONORS & AWARDS
Selected as a Super Lawyer (in the top 5% of attorneys)
Member of Leading Lawyers Network
LATEST NEWS & INSIGHTS FROM Barry P. Siegal
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November 2, 2021 News
By now, we are sure that you are aware of the considerable discussion in the media about Congress wanting to in large part revise a number of favorable tax laws. Congress has recently taken steps to make changes a reality through a new and pressing series of proposed tax law changes with the “Build Back Better Act” (the “Act”) that is making its way through the legislative process in Washington, D.C. New tax laws might be enacted, if at all, as early as mid-November but possibly by late December.
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September 30, 2021 News
The following is a summary of some of the more significant changes in Illinois law on state taxation enacted by the Illinois Legislature in its 2021 session.
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April 17, 2020 News Coronavirus Alerts
As of Thursday, April 16, 2020, the nearly $350 billion allocated to fund the Payroll Protection Program (“PPP”, previously discussed in detail here) had been entirely committed. According to the American Bar Association, the Small Business Administration is no longer taking applications, and will not allow new applications to be placed in a queue.
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April 10, 2020 News Coronavirus Alerts
While we are following Governor Pritzker’s order to stay at home, our firm is still working. Because we have received many questions in the last few weeks, we want to reach out to you to provide a few reminders and tips.
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March 31, 2020 News Coronavirus Alerts
On March 27, 2020, President Donald Trump signed the Coronavirus Aid Relief and Economic Security Act (“CARES Act”) into law. The law includes significant aid for small businesses and individuals affected by the novel coronavirus and the surrounding economic consequences.
Read More - All News & Insights From Barry P. Siegal >>