Jim Stanhaus has a varied tax and estate planning practice that includes working with high net worth individuals and their publicly held and closely held businesses.
For clients with substantial estates, Jim analyzes and develops estate plans, and designs, drafts, and implements wills and trusts. His tax and estate planning strategies encompass the use of estate freeze and family investment partnerships, corporate recapitalizations, private foundations, charitable remainder trusts, charitable lead (income) trusts, grantor-retained annuity trusts, irrevocable life insurance trusts, irrevocable long-term "Dynasty" trusts and other sophisticated planning vehicles. In addition, he provides related guidance on individual federal income, gift, estate and generation-skipping transfer taxation.
Closely held and small businesses rely on Jim for assistance with buy-sell and other shareholder agreements, and with succession planning for family-owned companies. He helps these clients implement employment agreements and other qualified and non-qualified compensations plans, with emphasis on life insurance products and plans, especially "split-dollar" life insurance arrangements.
Jim provides special income tax planning in the area of certain tax-advantaged investments for individual investors. His work in this area includes development and use of computer software programs for sophisticated income and transfer-tax planning analysis. Also for individuals and families, Jim advises on tax and economic issues, and assists with such family law matters as the negotiation and drafting of pre-marital and divorce/dissolution agreements.
Having joined Mayer Brown in 1971, Jim assumed his current position as senior counsel and retired partner in 2005.