SKO aided in the creation and formation of a non-profit Equine Tourism entity designed to garner tourism onto Central Kentucky horse farms and increase fan support and awareness in the sport of horse racing.
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.
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.
SKO represented clients in the acquisition of significant breeding interests in five Thoroughbreds which became ranked among the 10 leading sires of 2011 as well as three of the past six winners of the Kentucky Derby. SKO continued to be active in the syndication of stallions rotating between hemispheres, including stallions rotating between Europe and Australasia, the United States and South America, and the United States and Australia, and the related tax issues involved.
SKO administers the estates of notable horsewomen and horsemen and is actively involved in planning estates in the shifting economic climate.