Estate Planning and Probate
EDUCATIONL.L.M., in taxation, University of Florida, 1993
J.D., with honors, University of Florida, 1992
B.A. Economics, Eastern Michigan University, 1989
Elizabeth A. Carrie
Betty helps clients navigate the complex world of tax as they form and grow their businesses and plan their family and charitable legacies. She concentrates her practice in the areas of taxation, estate planning/administration, and counseling businesses and tax-exempt organizations.Betty has been involved in tax planning for individuals, tax-exempt organizations and business relationships of all types, with an emphasis on partnership and limited liability company issues. She also is experienced in tax issues dealing with real estate such as structuring like-kind exchanges and the unique tax and planning issues faced by exempt organizations engaged in business ventures.
In addition, Betty also has extensive experience in estate planning, including generation skipping transfer tax planning and wealth transfer and succession planning utilizing intentional grantor trusts, family limited liability companies and private foundations.
REPRESENTATIVE MATTERSEstate Planning and Tax-Exempt Organizations
- Design and implement coordinated wealth transfer programs utilizing family limited liability companies, irrevocable dynasty and intentional grantor trusts, and other wealth transfer techniques
- Design and document unwinding of failed sales of interests in family investment company for self-cancelling installment note and private annuity
- Serve as Conservator of a disabled client with approximately $1.8 million of assets and obtain Probate Court approval for substitution of trust for guardianship and conservatorship
- Obtain recognition of tax-exempt status as a 501(c)(3) organization for private foundations and organizations engaging in non-obvious charitable activities
- Counsel tax-exempt organizations on compliance and excise tax issues including the 5% minimum distribution requirement, taxation of unrelated business taxable income, and self-dealing rules
- Structure interest of tax-exempt entity and prepare Operating Agreement for multi-million dollar commercial development involving taxable and tax-exempt entities
- Form and prepare organizational and related documentation for high-tech corporation with complex capital structure
- Represent seller in multi-million dollar acquisition of corporation with continuing joint venture between purchaser and selling shareholders
- Prepare tax opinions on state and local tax issues in connection with sale and leaseback transactions
PUBLICATIONS & PRESENTATIONS
- Co-author with Robert E. Kass, “Who Will Care When You’re Not There, Estate Planning for Pet Owners” (Carob Tree Press, 2011)
- Speaker on choice of entity and tax issues for start-up businesses to participants in the TechTown Fast Track business incubator program.
- Frequent presenter on the topics of “Estate Planning for Pet Owners,” “Estate Planning 101,” “Top 10 Estate Planning Mistakes,” and “Use of Grantor Trusts”
- U.S. District Court - Eastern District of Michigan