Chad W. Makuch

Associate

Cleveland
T 216.861.7535  |  F 216.696.0740

Chad Makuch is an estate planning and tax lawyer who focuses on counseling wealthy families, institutional trustees, other fiduciaries, and tax-exempt organizations. Driven to efficiently achieve his clients' goals, he helps families transfer assets and business interests to children, grandchildren, and charities while minimizing or eliminating transfer taxes; counsels fiduciaries in connection with their responsibilities under complex trusts and applicable laws; and guides public charities and private foundations through the tax laws and regulations that govern them.

Chad also collaborates with general tax and tax controversy lawyers to address other income and employment tax issues, including income taxation of utilities, retirement income, the characterization of income as ordinary or capital gains, withholding requirements, audit responses, and tax controversy issues in general.

Select Experience

Individuals and Families
  • Represents high-net-worth individuals and families in estate planning matters and advises them with their testamentary planning (wills and revocable trusts), lifetime planning and gifting, business succession planning and charitable giving. 
  • Meets clients' objectives by employing vehicles such as installment sales, dynasty trusts, insurance trusts, grantor trusts, GRATs, family limited partnerships, and limited liability companies.
Trusts and Estates
  • Represents trustees and executors, whether individuals or institutions, in the administration of large trusts and estates.
  • Guides clients through the formal and often complex process of preparing estate tax returns, inventories, accountings, fiduciary tax reports and more.
  • Regularly fields questions regarding fiduciary duties and responsibilities under multimillion- and multibillion-dollar trusts and the proper investment of those assets.
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Experience

Individuals and Families 
  • Represents high-net-worth individuals and families in estate planning matters and advises them with their testamentary planning (wills and revocable trusts), lifetime planning and gifting, business succession planning and charitable giving. 
  • Meets clients' objectives by employing vehicles such as installment sales, dynasty trusts, insurance trusts, grantor trusts, GRATs, family limited partnerships, and limited liability companies. 
  • Transfers assets while minimizing or eliminating costly gift, estate and generation-skipping transfer taxes. In several such matters, Chad designed estate plans that preserved hundreds of thousands and, in some cases, millions of dollars for the benefit of his clients’ family and charity (which otherwise would have been paid in transfer taxes).
  • Designs estate plans to protect his clients’ assets from future creditors' claims and to maintain his clients' privacy where the law might otherwise make his clients' concerns a matter of public record.
Trusts and Estates 
  • Represents trustees and executors, whether individuals or institutions, in the administration of large trusts and estates. 
  • Guides clients through the formal and often complex process of preparing estate tax returns, inventories, accountings, fiduciary tax reports and more. 
  • Regularly fields questions regarding fiduciary duties and responsibilities under multimillion- and multibillion-dollar trusts and the proper investment of those assets. 
  • Provides litigation and pre-litigation support to BakerHostetler’s probate and fiduciary litigation practice. By gaining and formalizing consensus under private settlement agreements or declaratory judgment actions, Chad helps clients avoid litigation or, where litigation becomes unavoidable, provides support to litigators.
Public Charities, Private Foundations and Other Exempt Organizations 
  • Represents public charities, family private foundations, hospitals, health plans and healthcare organizations with respect to their tax exemptions. Chad brings his experience with tax-exempt organization matters to his work with clients, and uses it to help them with applications for tax-exempt status recognition, unrelated business income taxes, restricted gift issues, charitable giving requirements, fundraising and more general counseling of exempt organizations in their day-to-day operations.

Memberships

  • American Bar Association 
  • Ohio State Bar Association 
  • Cleveland Metropolitan Bar Association 
  • Tax Club of Cleveland 
  • Estate Planning Counsel of Cleveland (2012 to present)
    • Programming Committee (2013 to 2014)
  • Cleveland's Annual Tax Institute: Executive Committee (2011, 2012)

 

Community

  • University Hospitals
    • Diamond Advisory Group (2012 to present)
    • Ride the Rainbow Gala: Planning Committee (2014)
  • A Kid Again: Volunteer member of charity striving to foster hope, happiness, and healing for families raising kids with life-threatening illnesses (2013 to present)
  • Princeton Association of Northern Ohio (2009 to present)
  • St. Joseph Church (Strongsville, Ohio) (2009 to present)

Services

Prior Positions

  • City of Cleveland’s Law Department: Special Assistant to the Director 
  • Franklin County Court of Common Pleas: Extern for Judge Guy L. Reece II

Admissions

  • Ohio, 2009

Education

  • J.D., The Ohio State University Michael E. Moritz College of Law, 2009, cum laude; Moritz scholarship recipient; Articles Editor, Ohio State Law Journal
  • A.B., Princeton University Woodrow Wilson School of Public and International Affairs, 2006

Blog

In The Blogs

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WealthDirector
The Limits of Discretion: Trust Distributions for Health, Education, Maintenance and Support
By Chad W. Makuch
September 10, 2013
Trustees are often granted the power to distribute trust property “in the Trustee’s discretion” for a beneficiary’s “general well-being,”  “best interests,” “comfort,” or, most commonly, “health, education, maintenance and support.”  This...
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WealthDirector
Careful Estate Planning Required When Transferring S Corporation Shares to Trusts
By Chad W. Makuch
August 16, 2013
S corporation shareholders must be careful not to inadvertently terminate their closely held company’s S election when engaging in estate planning. Closely-held entities, which choose not to be formed as a partnership or limited liability...
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WealthDirector
SEC “Common Trust Fund” Exception Narrowly Construed for Private Trust Companies
April 16, 2014
Recent years have seen a dramatic increase in the number of Private Trust Companies (“PTCs”) established by wealthy families.  PTCs are used to consolidate the trustee function of multiple trusts within a family, and because these trusts...
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WealthDirector
IRS Issues Warnings about Email and Telephone Tax Scams
April 15, 2014
As the 2014 tax filing season progresses the Internal Revenue Service has issued warnings to taxpayers about convincing fraudulent email messages and telephone calls seeking payments or personal information that will enable the scammer to...
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WealthDirector
The Waiting Game: What to Do (and Not Do) While an Exemption Application is Pending
April 9, 2014
So, you have thoughtfully and thoroughly prepared the Form 1023 Application for Recognition of Exemption Under Section 501(c)(3) (“Form 1023” or “application”) on behalf of a charity, and filed it with the IRS along with a completed...
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