Stites On Estates

Estate, Trust, and Tax Planning
Stites On Estates

Managing Abundance: Inheritance Strategies of the Upper Class

Broadly speaking, I have observed Upper Class families use three types of inheritance strategies: deferral, ad hoc gifts, and income streams.Deferral is a traditional strategy: pay to raise and educate your child, and then give...
by Stites & Harbison, PLLC May 16, 2015
Stites On Estates

How Inheritance Affects Adult Children: A Tale of Three Classes

Although class is discussed frequently and openly in Britain, it makes many of us on this side of the Pond uncomfortable. Even so, class in America has been covered humorously by Paul Fussell, and with...
by Stites & Harbison, PLLC May 09, 2015
Stites On Estates

The Advantages of Tennessee Trusts: Investment Services Act Trusts

Hello to everyone reading Stites on Estates. I recently joined Stites & Harbison as an estate planning attorney practicing in both Tennessee and Georgia. My inaugural blog post discusses Tennessee Investment Services Act trusts...
by Stites & Harbison, PLLC May 07, 2015
Stites On Estates

Overfunded 529 Plans: Avoiding Too Much of a Good Thing

The expense of college for children and grandchildren is a troubling issue for almost all of my clients.I think this is because at an instinctual level, long before crunching any numbers, clients know what the...
by Stites & Harbison, PLLC May 03, 2015
Stites On Estates

A Critical Look at Roth IRAs: The Marshmallow Is Not Always What It Seems

In the late 60s and early 70s at Bing Nursery School on Stanford's campus, Walter Mischel conducted the famous "Marshmallow Experiment" on delayed gratification. Preschoolers were offered a choice between one marshmallow or cookie right...
by Stites & Harbison, PLLC April 25, 2015
Stites On Estates

Exercising Stock Options and Selling Shares: May the Odds Be Ever in Your Favor

If you have been working since the late '90s, you have probably collected some great stories about exercising stock options and other equity-based compensation.Some are unqualified success stories, like the time my college roommate's father...
by Stites & Harbison, PLLC April 19, 2015
Stites On Estates

Noncompetition Agreements and Your Career: On the Beach When You Don't Want to Be

Noncompetition agreements are a common fact of life for many of the mid- and senior-level executives I represent in estate planning, and for business owner clients with employees.Because noncompetes are such important features of the...
by Stites & Harbison, PLLC April 11, 2015
Stites On Estates

Business Startup Issues That May Find You – Even if You Don’t Go Looking For Them

In my practice, I have found that a majority of my clients who create significant wealth do so through ownership of a private business or a concentrated stock position in a publicly traded company.What that...
by Stites & Harbison, PLLC April 05, 2015