I. Form of Ownership. A good estate plan should include a review of how your assets are titled. The form of ownership can affect the availability of estate tax exemptions, creditors’ rights, and which document controls how the asset is distributed at your death. II. Last Will and Testament. A written Will is a legal […]
Many non-profit organizations may advance their charitable missions with cross-border operations. Non-profits operating internationally should consider these six issues: 1. Grantmaking Generally, a U.S. based public charity (as opposed to a private foundation) can make a grant to a foreign charity if the granting organization retains “discretion and control” over the use of funds raised, reviewing […]
One of the highlights of 2017 is the new artwork up on the walls thanks to our new partnership with the The Geezer Gallery. A local nonprofit organization, the Geezer Gallery showcases artists, age 60 and above, in its gallery and other locations in the community. As a participant in the new Art Vault program, […]
At a conference in New York sponsored by the Practicing Law Institute on February 13, 2017, Treasury and IRS officials discussed two new Trump administration policy changes limiting substantive IRS guidance for “a while.” The first policy is the administration’s unusual “one-in, two-out” executive order, which generally requires agencies to eliminate two regulations for every […]
Choosing a Legal Structure for Your Social Enterprise At Catalyst Law, we define a “social enterprise” as any organization that has elements of “doing well financially by doing good.” Under this definition, social enterprises can take many forms – from strictly for-profit businesses to nonprofit organizations, with several options in between. This six-part series will […]
Under the current federal transfer tax system, there is a 40% tax on estates of individuals dying with more than $5.49 million in assets. Gifts made during lifetime are added to transfers at death for purposes of calculating the $5.49 million limit. (With proper planning, the limit is doubled for married couples.) Transfers greater than […]
A “zebra company” is one whose business model strives for both purpose and profit. We’re thrilled when we have an opportunity to help zebra companies develop the legal structure they need to have a dual-impact mission. And we are proud to be a zebra company ourselves, dazzling* brightly with the other zebra companies we know. At […]
Benefit companies now enjoy a new tax advantage over traditional corporate entity types. In October 2016, the IRS announced that benefit companies’ advertising expenses are deductible as a business expense, even when the payment is made to a nonprofit organization.[1] In 31 states, businesses have the option to incorporate a business as a “benefit company.” […]
Catalyst Law is rooted in community and committed to creative problem-solving – it’s why we founded the firm with an emphasis in social enterprise law. As our way of giving back, we are proud & thrilled to announce the launch of our new nonprofit affiliate and a social enterprise venture of our own, The Commons Law Center.
We started Catalyst, in part, to experiment with innovations in law practice. We want to practice law in ways that are better for clients and better for the lawyers serving them. In that spirit, as of January 1, 2017, we are stopping the billable hour clock and transitioning to fixed-fee billing arrangements for most estate […]