Brooks Paley, J.D., LL.M., Managing Principal of Paley Law Corporation, Discusses Impact of the Estate Tax on Family-Owned Businesses

Sep 08, 2011, 19:20 ET from Paley Law Corporation

LOS ANGELES, Sept. 8, 2011 /PRNewswire/ -- Brooks Paley, J.D., LL.M., the managing principal of Paley Law Corporation, was interviewed recently by Working Ranch Magazine ("Death Tax Tips") on the impact of the estate tax on family-owned businesses and tax planning opportunities available to them. He explains how the estate of a closely held business owner may qualify to significantly extend the payment period for its estate taxes, how life insurance benefits may be removed from one's taxable estate, and the ephemeral opportunity that everyone has to make significantly increased tax-free gifts plus additional gifts at a reduced tax rate. Finally, he encourages any taxpayer who may owe significant wealth transfer taxes in the future to have a comprehensive planning discussion with a knowledgeable tax attorney now, while there is still time to reduce his or her tax liability.

Mr. Paley is a Los Angeles-based attorney who specializes in strategic wealth transfers and the mitigation of estate, gift and generation skipping transfer taxes. His practice areas include estate and trust planning, estate and trust administration, probate, asset protection, and business entity formation. Mr. Paley earned his Master of Laws in Taxation with High Distinction at Loyola Law School of Los Angeles, his Juris Doctor at USC Gould School of Law, and his Bachelor of Arts in Communication at Stanford University. He has been a member in good standing of the State Bar of California since 1993. Mr. Paley may be contacted at 323.654.9513 or

SOURCE Paley Law Corporation