Tom’s practice focuses on advising family-owned and closely held businesses on commercial and tax law, including mergers and acquisitions, income tax, estate tax and business succession planning.
Tom has more than 30 years of experience working with corporations, partnerships, family-owned and closely held businesses, individuals, trusts and estates. Over the course of his 30-year career, Tom has amassed a deep knowledge of the many tax strategies for operating privately held businesses. He has guided clients through choice of entity in business formation, counseling them on the various legal structures available to them, including S corporations, family limited partnerships and limited liability companies. As their business matures, Tom advises clients on the effective operation of their entities
As senior leadership prepares to shift ownership, Tom assists them in designing business succession and estate plans, keeping in mind their desire to save income and estate taxes. Tom helps clients develop the right strategies to maintain or dispose of business interests as their personal needs and circumstances dictate. In his work with business owners, Tom counsels them on the eventual sale (to co-owners, key employees, ESOPs or third parties) or transfers to family members and provides a legal framework for an orderly transition of the business in a tax-efficient manner.
Prior to joining Fredrikson & Byron, Tom was the president of his own law firm where he advised owners of closely-held businesses for more than two decades. Before launching his own firm Tom served as the director of Business Succession and Estate Planning at a Fortune 500 food distribution company where he provided business, income tax, estate and succession planning services to its customers.
Using his experience in the retail industry, Tom has spoken before wholesalers, franchisors, franchisees, retailers and their national associations.
