| Stuart
K. Taussig Shareholder
Stuart K. Taussig practices primarily in the areas of corporate, business, tax, estate planning, conflict resolution, and succession planning. Much of his work in these areas emphasizes representation of, and planning for, family and other closely held businesses.
Stuart, who passed the CPA exam, acts as an advisor and counselor as well as an attorney to family business clients, dealing with all of their varied legal problems.
He has extensive experience in helping clients solve their succession and related estate tax and liquidity problems. Stuart has served on the board of directors of closely held businesses and understands how to help them deal effectively with challenges and opportunities.
Stuart has been awarded an AV® Peer Review Rating from Martindale-Hubbell, its highest rating for ethical standards and legal ability. He is also a member of the Leading Lawyers Network and was named to the Illinois Super Lawyers list.
EDUCATIONJD, 1960, University of Wisconsin Law School
- Member, Wisconsin Law Review
- Vice Chair, Madison Legal Aid Society BBA, 1958, University of Wisconsin Doctor of Humane Letters, Honoris Causa, Spertus College of Judaica
BAR ADMISSIONSIllinois Wisconsin (inactive) U.S. District Court, Northern District of Illinois U.S. Seventh Circuit Court of Appeals U.S. Tax Court
PROFESSIONAL AND CIVIC AFFILIATIONSAmerican Bar Association
Chicago Bar Association
Chicago Council of Lawyers
Chicagoland Jewish High School
- Member, Board of Directors
American Jewish Committee
- Former Member, National Board of Governors
- Member, National Council
- Past President, Chicago Chapter
Tau Epsilon Rho Law Society
- Former National Supreme Chancellor
Chicago Action for Soviet Jewry
- Former Member, Advisory Committee
Soviet Jewry Legal Advocacy Center
- Former Member, Board of Directors
Spertus College of Judaica
- Former Chair, Board of Trustees
Daughters of Charity Marillac Settlement House
- Former Member, Board of Directors
Hubbard Street Dance Company
- Former Member, Board of Directors
Jewish Federation of Metropolitan Chicago
- Former Member, Board of Directors
Jewish United Fund/Metropolitan Chicago
- Former Member, Board of Directors
National Jewish Medical Research Center
- Former Member, Council of National Trustees
RECENT REPRESENTATIONSRepresented a family of companies—located in two states in America and two states in Mexico—in a sale of their assets.
Restructured stock ownership in a family corporation for succession purposes and created a plan to separate the children in the business from the children not in the business where the vast majority of the senior generation's assets was the business and life insurance was not an option.
Restructured stock ownership in a closely held corporation among family members and related entities, resulting in significant income and estate tax savings upon the subsequent sale of the company. Stuart represented the company in the sale negotiations and was a director of the company.
Resolved a family dispute involving a widow and her stepchildren in an amicable manner. The tax structure Stuart devised helped facilitate the resolution.
Realized a significant settlement, without the necessity of litigation, for the benefit of a trust because of mismanagement by the corporate trustee.
Restructured the stock ownership of a corporation by transferring the vast majority of equity ownership to descendants and trusts for descendants with no gift tax implications while the donors/parents retained voting control. The structure will save significant death taxes upon the death of the donors/parents.
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