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Jim Steffel practices in the areas of estate planning and administration, closely held business entities and related taxation, transactions and litigation. He is the Chair of the Professional Entities Subgroup, a member of several committees of the Trusts and Estates Practice Group and the Executive Partner of the Firm's Muskegon, Michigan, office.
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Representative Experience
- Prepared numerous estate plans including: multigenerational plans, charitable plans using custom beneficiary designations, various charitable trusts (CRTs), community foundations and private foundations; various gifting plans; sophisticated insurance plans involving irrevocable life insurance trusts (ILITs) and private split dollar arrangements; multinational plans involving qualified domestic trusts (QDOTs); plans involving family business organizations with entity based valuation discounts; and value freezing plans using outright gifting, grantor retained annuity trusts (GRATs), fractional interests, sales, intentionally defective irrevocable trusts (IDITs), split interests and qualified personal residence trusts (QPRTs)
- Litigated several probate matters involving: claims for and against estates; will disputes and claims of undue influence, incapacity and fraud; fiduciary misconduct matters; and fee disputes
- Administered numerous Trusts and Estates from simple small estates (4 digits) to large trusts (9 digits) with significant issues and disputes regarding liquidity, taxation, single share concentrations, the rights of beneficiaries, the duties of fiduciaries and IRS practices and procedures
- Established numerous entities including C corporations, S corporations, professional corporations, limited liability companies, professional limited liability companies, general partnerships, limited partnerships, nonprofit associations and joint ventures
- Negotiated, documented and closed numerous real estate and closely held business transactions including transactions involving shopping malls, strip malls, professional practices, bowling and recreational centers, grocery store chains and other commercial businesses
- Negotiated, planned and documented several acquisitive business reorganizations (including mergers or acquisitions regarding ophthalmology practices, orthopedic practices, otolaryngology practices and surveying/engineering practices) and divisive business reorganizations
- Developed and implemented various business succession plans involving a wide range of business enterprises and transfers to third parties, related parties and key employees, including the use of Employee Stock Option Plans (ESOPs)
- Organized, negotiated and documented multi-tiered developments including a medical office campus anchored by an ambulatory surgery center formed, licensed and operated by numerous surgeons from different practice disciplines and organizations
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Honors And Awards
Member, The University of Toledo Law Review Peer review rated – Martindale Hubbell Named a Super Lawyer in the 2007 edition of Michigan Super Lawyers Graduate – Leadership West Michigan, 2006
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Bar Associations
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American Bar Association
Real Property, Probate and Trust Law Section; Business Law Section; and Health Law Section
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State Bar of Michigan
Probate and Estate Planning Section; Business Law Section; and Real Property Law Section
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Florida Bar Association
Real Property, Probate and Trust Law Section
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Muskegon County Bar Association
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Teaching and Lecturing
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Publications
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Professional Affiliations
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Lake Michigan Estate Planning Council
Board Member 2003–Present; President 2005-2006
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Community Affiliations
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Big Brothers and Big Sisters of South Central Michigan
Member, Honorary Board; Former Executive Board Member
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Mercy General Health Partners Community Development Council
Member, Executive Committee; Chair, Planned Giving Committee
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Leadership West Michigan
At Large Board Member
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News
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