Wills, Trusts & Estates

Crafting a comprehensive succession plan for holders of licensed businesses demands a nuanced understanding of regulatory requirements and licensing qualifications. The Danow Group recognizes the unique challenges posed by regulatory restrictions in estate planning and is committed to providing tailored solutions.

Wills, Trusts & Estates Overview

Succession Planning for Licensed Entities

Experienced guidance on considering licensing qualifications when creating a succession plan for holders of licensed entity interests.
Recognition of state-imposed limitations on the number and types of licenses an individual can hold.

Spousal and Family Plans

Insight into state-specific regulations, such as restrictions on multiple off-premise licenses.
Strategies for addressing limitations when spouses each have an interest in a licensed entity, ensuring effective transfer plans.
Advice on how trusts can be employed to navigate licensing-related challenges in estate planning.

Regulatory Considerations

Awareness of the disqualification of individuals with felony records from holding interests in licensed entities.
Understanding restrictions on individuals holding interests in different tiers (e.g., supplier/wholesale vs. retail) within the beverage-alcohol and cannabis industries.
Strategies for using trusts to address tied-house issues and achieve estate planning goals that might be otherwise restricted.

The Danow Group is ready to assist you and your advisors in navigating the complexities of transferring assets subject to regulatory and licensing requirements. We help ensure that your estate plan aligns with regulatory considerations, providing a seamless transition for licensed business interests.

Wine and Spirits Labeled as Organic

April 8th, 2024

Because a growing number of consumers believe there is an advantage to purchasing organic products, the United States Department of Agriculture (“USDA”) is concentrating on eliminating food and beverages improperly labeled as organic. The USDA National Organic Program (“NOP”) published its final rule entitled “Strengthening Organic Enforcement (“SOE”). This rule will be implemented as of […]

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OUTDOOR DINING

March 7th, 2024

The New York City Department of Transportation has published final rules regarding the open restaurant program. Any restaurant that erected an outside dining structure or engaged in outdoor dining on a public road or street pursuant to prior rules must apply for revocable consent under the new regulations within five months of the new rules […]

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Corporate Transparency Act Held Unconstitutional

March 6th, 2024

CORPORATE TRANSPARENCY ACT HELD UNCONSTITUTIONAL The Corporate Transparency Act (“CTA”) requires each person to disclose to the Financial Crimes Enforcement Network (“FinCen”), acting on behalf of the United States Treasury Department, the beneficial owner and applicant for each entity to be formed by a filing with a state or an Indian tribe as well as […]

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