Karl W. Schettenhelm, Jr., Shareholder Phone: 248.205.2740 Practice Areas: |
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Experience/Honors Mr. Schettenhelm has served as an adjunct faculty in the Masters of Taxation program at Walsh College, teaching courses in Business Valuation as well as Tax Exempt Organizations and Charitable Giving. He has also served as an instructor in a combined program sponsored by the University of Michigan and Wayne State University leading to a “Certified Employee Benefit Specialist” designation. Mr. Schettenhelm has been involved in a number of complex cases, helping clients to resolve matters in an agreeable way. He was involved with the first Post Pension Protection Act IRS ruling that allowed for a rollover of a $950,000 401(k) benefit that would have otherwise been taxed immediately with Post Death Trust Reformation. He also was involved with the tie-in of Stage II and Stage III business plans to the strategic requirements under Scott on Trusts. Here he coordinated the client’s needs with the new Michigan trust Code allowing for in excess of $6 million in gift and estate taxes over a nine-year period. He also helped to coordinate a State III business sale with an investment banking firm to maximize case sale price for a closely-held Michigan business sale for a price in excess of $23 million. Mr. Schettenhelm has engineered and advised in the creation of and succession planning in numerous employee benefit issues, including the establishment of an employee stock ownership plan (ESOP) that is now in its fourth generation of succession planning. He has designed business exit strategies that have led to wealth preservation and charitable funding in business sales and he has participated in numerous IRS Rulings, including the first ever-ruling involving exit strategies for qualified plans and trusts under the Pension Protection Act. Mr. Schettenhelm has earned an AV Best Rating by his peers as published by Martindale and Hubbell. Professional Memberships
Published Articles/Seminars He has been a frequent lecturer for the Institute of Continuing Legal Education as well as for the Michigan Association of Certified Public Accountants. Mr. Schettenhelm has been the lead presenter for a seminar titled, “New Planning under the 2010 Michigan Trust Code” and “Estate Planning for Retirement Benefits and the New Michigan Trust Code” for the Northeastern Michigan Estate Planning Council Annual Meeting. And he has been the program co-chair for Walsh College as part of a 4-hour program and panel presentation: “Integration of Stage I; Stage II; Stage III Business Plans Under the 2010 Michigan Trust Code and Succession Planning and Exit Strategies Involving Qualified Plans, Trusts and Charitable Planning Opportunities.” He also led a seminar titled, “Paying Retirement Assets to Trusts/Adding New Pension Protection Act Planning to Trust” for the 26th Annual CLE Conference, Taxation Section, for the Colorado Bar Association. Education Mr. Schettenhelm earned a bachelor of arts degree from the University of Michigan and is a graduate of the University of Detroit School of Law. He also holds a master’s degree in taxation from Wayne State University. |
