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  807 Haddon Avenue,
Haddonfield, NJ 08033
Phone: 856-795-6026
Fax: 856.795.4911
 

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Courts Allow Reallocation of Gifted Shares

November 2011 | Issue 55 Introduction The U.S. Court of Appeals for the Ninth Circuit, in Petter v. Commissioner, 653 F. 3d 1012, (8/4/11), found for the taxpayer in a case involving the use of a “formula clause” to reallocate gifts of property to heirs and charity. > The Plan Anne Petter lived in Washington [...] More...

Book Value was 2% of Fair Market Value in NJ Buyout Case

November 2011 | Issue 55 In Estate of Cohen v. Booth Computers (421 N.J. Super. 134, 22A. 3d 991, July 13, 2011), the question addressed was whether a family partnership agreement that provides for a buyout based on net book value may be enforced when the disparity between book value and fair market value is [...] More...

Estate Tax Underpayment Penalty Waived in Giustina Case

September 2011 | Issue 54 Introduction Estate of Giustina v. Commissioner, T. C. Memo. 2011-141 (June 22, 2011), is a US Tax Court case involving the value, for estate tax purposes, of a 41.128 % limited partner interest in Giustina Land & Timber Co. LP (“GLT”) owned by Natale Guistina at his death on August [...] More...

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History

At Hempstead & Co. we have been serving the needs of our clients for over a quarter of a century. Hempstead & Co. Inc. was founded on the principles of commitment, accuracy and quality – principles that we continue to build on today. Whether for estate or gift planning, shareholder disputes or mergers and acquisitions advisory services, our clients have come to rely on us for superior service and quality in all of our projects.

We have worked with and continue to work with major law firms, accounting firms and closely-held corporations. Most of our new client assignments are based on recommendations from past or current clients.

And when the project is completed, do not expect the relationship to be. We have many clients for whom we complete annual valuations, provide on-going financial advisory services or simply offer some guidance if needed.

We look forward to doing the same for you in the near future.