Escobar and Associates Attorneys at Law remains open during the COVID-19 Coronavirus pandemic. Legal services are defined as “essential” within the Stay at Home Order executed by Florida Governor, Ron DeSantis. We remain committed to providing uninterrupted legal services to all clients. We also remain dedicated to the health and safety of our clients and staff. Within the office, our firm has already implemented protocols to keep clients and staff safe during this crisis. We understand as criminal defense attorneys how crucial it is for our attorneys and staff to remain available 24 hours a day, seven days a week to provide legal services for clients in need.

Your pursuit of justice starts here!

Speak to an attorney 24 hours a day free consultations

Email Us & Get Help

Nevada estate planning could include sale of family business

| Nov 12, 2012 | Inheritances

Readers in Nevada may be interested to learn that the heirs of George Lucas, famed director of the Star Wars movies, may have avoided potential tax problems and planning issues over his high value estate recently. This may be because the director recently sold his movie business for more than $4 billion dollars to Disney. The sale was made in stock and cash and is a part of an estate planning move that may have been designed to limit some taxes.

Reports indicate that a part of the reason for the sale of the movie business by Lucas was that none of his heirs appear to have been interested in continuing the business. The sale will free the heirs of the need to divide the business after their father’s death. Instead, the director has said that he intends to use much of his wealth for charitable purposes while he is still alive.

In addition to limiting the chance for future litigation, the sale by Lucas also may have saved his estate many dollars in taxes. This is due to the fact that the rules for capital gains taxes are favorable during 2012, a fact that may change in 2013. Currently, the rate for gains such as those made by Lucas is 15 percent. Next year, those same rates are expected to jump to 20 percent.

Planning for an estate that benefits both an individual and their heirs can be challenging, as many in Nevada know. Using this type of sale, even some with much smaller businesses than that of Mr. Lucas can still benefit in the same way. There are many different estate planning tools that are available for all who seek to plan for the division of their assets after their deaths, and a full review of each may benefit not only the individual but also their potential heirs.

Source: The Wall Street Journal, “George Lucas’s Jedi estate planning,” Quentin Fottrell, Nov. 1, 2012

  • Martindale-Hubbell | Top rated lawyer in Tampa | Richard Escobar | For Ethical Standards and Legal Ability | Martindale-Hubbell Top rated lawyer
  • Top Lawyers 2016 | Richard Escobar
  • Top Lawyers 2016 | Dino Michaels
  • Highest Possible Rating in Both Legal Ability & Ethical Standards | AV |AV Preeminent | Richard Escobar | 2016
  • Judicial Education | AV | AV Preeminent | Richard Escobar | 2016
  • CLIENT | DISTINCTION AWARD | Dino mike Michaels, Esq. | Recognized for Excellence | Quality of Service | Overall Value | Responsiveness | Communication Ability
  • 15 | YEAR | Anniversary | Proudly Serving | the Community | Since 2001 | Dino Mike Michaels
  • 10 Best 2018 | Richard Escobar | Client Satisfaction | American Institute Of Criminal Law Attorneys


Email Us & Get Help

FindLaw Network