Joseph B. Colvin
Member , Lexington KY
Joe is a Member of Stoll Keenon Ogden’s Lexington and Louisville offices. He joined the firm in 2012 and is part of the Trusts & Estates practice group. He works with families and business owners throughout Kentucky on estate and gift planning, as well as estate and trust administration. For privately held companies, he consults on business succession plans.
Before embarking on his career as an attorney, Joe was a tax manager at Deloitte Tax LLP, where he advised affluent individuals, closely held businesses, trustees, and estate administrators on compliance with income and transfer tax laws. He also helped clients in structuring trust, partnership, and S corporation agreements.
Trusts & Estates: Joe develops plans to meet the expectations of clients and address their individual situations, and he carefully weighs the benefits, risks, and complexity of every recommendation. He has represented multigenerational families in the planning of multimillion-dollar estates, and he has provided counsel to businesses on sophisticated succession documents.
Education
Ohio State University, 2005, J.D.
University of Kentucky, 2002, B.S.
Experience
Admitted In
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Kentucky
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Ohio
Professional & Community Activities
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Kentucky Bar Association
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Lexington-Fayette Bar Association
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Junior Achievement of the Bluegrass, Board of Directors, Programs Committee, Chair
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Estate Planning Council of Metro Louisville
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Bluegrass Estate Planning Council
Work Highlights
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Family Business Succession Planning and Estate Planning with Special Trusts
Represented husband and wife in planning for their business and estates by restructuring the company into voting and nonvoting shares, allowing them to transfer value while maintaining control, and preparing and implementing a stock restriction agreement, a multi-generation family protection trust, traditional A/B trust planning, essential planning, a qualified personal residence trust, a vacation home trust, and gifting trusts for each grandchild.
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Family Business Succession Planning- Sale to Grantor Trusts- Charitable Planning
Represented multi-generation family in planning for their family and estates after the sale of the family business, including preparing and/or implementing Delaware Trusts, a charitable lead annuity trust, limited liability companies, sale to dynasty trusts and valuation discounts as well as assisting in the administration of the estates of several family members after their unexpected deaths.
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Reorganization of Equine Business, Insurance Trust and Gift Planning
Represented a husband and wife in planning and implementing the reorganization of a multi-million dollar equine business; in the preparation of multi-generation irrevocable trusts for each of the children and the gifting of interests in the equine business on a discounted basis to the trusts; in planning and implementing a multi-million dollar life insurance trust; and in preparing and implementing a beneficiary defective irrevocable dynasty trust.
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Trust Reformations- Delaware Directed Trusts
Represented a corporate trustee in amending multiple 1950s trusts to be directed trusts, transferring administration of the trusts to Delaware and obtaining a private letter ruling from the Internal Revenue Service to confirm the continuing applicability of the generation-skipping tax grandfathered exempt status of the trusts.
Seminars
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- The Probate Process from State to Finish – Probate Property v. Non-Probate
Assets, National Business Institute, 2017 - Succession Planning to Future-Proof Organizations, SKO Corporate Seminar, 2014
- Traditional & Advanced Estate Planning, Young Professionals Association of
Louisville, 2014 - Estate Planning Update, Louis A. Grief Tax Planning Institute, 2012
- Income Taxation of Trusts and Estates, National Business Institute, 2012
- Gift and Estate Planning – A New Focus, Society of Financial Service Providers, 2011
- Tax Planning and Policy: The Road Ahead, UBS, 2011
- Considerations for Conversion to a Roth IRA, Society of Financial Service Providers, 2010
- Fiduciary Income Tax and Accounting Issues, Huntington National Bank, 2009
- The Probate Process from State to Finish – Probate Property v. Non-Probate
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