The Paycheck Protection Program is a loan designed to provide a direct incentive for small businesses to keep their workers on the payroll. At the time of this writing, these potentially helpful loans come with some strings attached. If the ownership interest is changed, whether by sale, gift, or merger, certain guidance must be followed.
Author: Mark R. Parthemer, Esq., AEP, is managing director, Wealth Planning Services at TIAA, a Fortune 100 financial services firm, where he leads advisory services for ultra-high-net-worth individuals. He is an ACTEC Fellow; a frequent national lecturer and published author; chair, ABA Non-Tax Issues Affecting Estates and Trusts Committee; member, Florida and Pennsylvania Bars, Synergy Summit, and the Florida Bankers Association Executive Council, and chair, Trust Legislation Committee. He has been part of the University of Miami’s Heckerling faculty and is a former adjunct professor, Widener University School of Law. Mark often has been recognized as one of the Best Lawyers in America and a Florida Legal Eagle.
Author: Sasha A. Klein, Esq., LLM, is a partner and chair of the estate and tax planning group at WardDamon, PL, West Palm Beach, FL.
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