Recently received IRS approval for conversion of a private foundation, which has been in existence for 30 years, to a Public Charity, resulting in future income tax savings and in the ability to receive grants that were not otherwise available.
Recently obtained a court decision removing an administrator who had used fraud to be appointed, preventing the estate from being diverted to the lawful heirs.
Wayne recently obtained a court decision reversing a city’s decision to attempt to impose real estate tax on property owned by a non-profit.
Obtained IRS approval of an Offer in Compromise which resulted in the client paying 5% out of pocket of the total amount due.
Wayne assists individuals and business owners with innovative estate and business succession planning, including the creation of revocable living trusts, life insurance trusts, wills, charitable trusts and gifts, private annuity plans, qualified residence trusts, and family limited partnerships. He also structures asset ownership, life insurance, and retirement plans to creatively achieve optimal income and estate tax savings as well as asset protection for his clients. This frequently involves restructuring existing business entities and the creation of new business entities and real estate issues.
Wayne prides himself on connecting with his clients on a personal level, taking the time to appreciate their circumstances and specific needs. He understands that the estate planning process can be difficult, and clients trust him to explain the complicated concepts involved, equipping them with the tools they need to make an informed decision. He takes the same approach when assisting clients with business succession planning, ensuring the client’s personal, family, tax, business, and future lifestyle needs are met.
Clients also rely on Wayne for the settlement of trusts and estates, including all required tax preparation and filings. Given his substantial experience in this area, Wayne has crafted a system to streamline the process to save clients time and money.
Wayne also aids clients in the formation of non-profit organizations and assists these organizations, including religious institutions, in various matters. His practice includes the creation of endowments and cemetery funds and converting private foundations into non-profits.
Wayne is a regular seminar presenter on the topics of income, gift and estate taxation, wealth transfer and business succession planning.