The Future Estate
 Volume 5, Issue 7, Summer 2014
Will

About My Firm

Law Office of

Christopher Guest, PLLC   

888 16th St., NW, Suite 800
Washington, DC 20006
703.237.3161 (VA)
703.574.5654 (Fax)
Admitted in DC, VA, MD and NY


Newsletter Spotlight
-Making a Section 83(b) election: The Hot Internet Stock Employee Conundrum
-Basics of Estate Planning: How to use 529 Plans in Estate Planning?
-Estate of The Month: Casey Kasem - An Estate with Its Feet in the Mud and Reaching for Messy Litigation
Law Office of Christopher Guest
 
 A Law Office Planning for the Future
 
   


CMG Bio

I know I usually send out a monthly newsletter but I have a good reason to miss July and issue a summer newsletter instead. My wife and I had our third child on July 1st and we have been trying to catch up on our sleep. I promise I will get out a September newsletter to you. 


 

This month's topics include: Section 83(b) elections for employees working with restricted stock options, how to use 529 accounts in estate planning (that might come in handy for me) and the estate feud going over Casey Kasem's estate.  


 

Sincerely,

  

Chris

  

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Making a Section 83(b) Election:

The Hot Internet Stock Employee Conundrum 

  

 

Some days I think the past constantly repeats itself. The recent news of there being the most initial public offerings since 2004, Facebook's purchase of Whatsapp for $19 billion, or this week's announcement of Zillow's purchasing of Trulia for $3.5 billion jogs my memory of the heady pre-Internet bubble days. One of the constants in these transactions is that many of the employees associated with these companies are given stock in a company as a form of compensation. Now, the smart person will ask how that relates to estate planning? Well, there is a strong correlation to smart business planning and estate planning.

 

Smart business planning is crucial to an entrepreneur's success in a new venture, and avoiding mistakes commonly made in start-up companies can help an individual preserve wealth for his or her estate.

 


Basics of Estate Planning:

What are Spendthrift Clauses?

  

Will

As college tuition continues to skyrocket upward, Americans with young children attempt to deal with the rising costs. And, when you just had your third child, college costs are always on the mind. One important tool to deal with the costs is also an effective estate planning tool - a 529 savings plan.


 
Section 529 of the Internal Revenue Code authorizes "qualified tuition programs" to be run by a state, a state agency, or certain eligible educational institutions. The funds placed into these accounts are invested, and returns on the investment are exempt from federal and state income taxation (when conditions on use of withdrawn funds are followed - if not, taxes and penalties apply). While the details of each plan differ, they are widely available - in every state plus the District of Columbia, an individual has access to a 529 plan to pursue a tax-advantaged path to saving for college.


 

More in the Summer 2014 Newsletter  

 

Estate of the Month:

Casey Kasem Photo courtesy of Alamo Live News
While there is plenty more to talk about as the Sterlings continue to battle it out in court, the spotlight has now unfortunately come to rest on Donald's mental health instead of on the estate planning strategies that I had previously discussed. That's why I'm turning my focus this month to the estate of Casey Kasem, the celebrated disc jockey and radio personality who passed away last month at the age of 82. 

Over the last several years, Kasem had been suffering from what was thought to be Parkinson's or Alzhemier's but was actually Lewy body dementia. He died amidst an ongoing feud between his widow and C-star actress best known as Nick Tortelli's wife in Cheers, Jean Kasem, and his three children.
Weekend & Evening Appointments available.
 

 

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Questions or comments? E-mail us at cguest@guestlawllc.com or call 202.349.3969
  

Disclaimer: 
An  e-mail, fax, letter, or phone call to or from my office does not create an attorney-client relationship. An engagement agreement must be signed by both the  attorney and the client to establish an attorney-client relationship with the Law Office of Christopher Guest, PLLC


Circular 230 Disclosure: Pursuant to recently-enacted U.S. Treasury Department Regulations, we are now required to advise you that, unless otherwise expressly indicated, any federal tax advice contained in this communication, including attachments and enclosures, is not intended or
written to be used, and may not be used, for the purpose of (i) avoiding tax-related penalties under the Internal Revenue Code or (ii) promoting, marketing or recommending to another party any tax-related matters
addressed herein.
Copyright � 2014  Law Office of Christopher M. Guest, PLLC
This newsletter was prepared by the Law Office of Christopher Guest, PLLC as a service to clients and friends of the firm. It is not intended as a source of specific legal advice. This Newsletter may be considered attorney advertising under the rules in some states. Prior results described in this newsletter cannot and do not guarantee or predict a similar outcome with respect to any future matter that the firm or any lawyer may be retained to handle. Case results depend on a variety of factors unique to each case and circumstance.