Chad W. Makuch

Partner

Cleveland
T +1.216.861.7535
F +1.216.696.0740

Overview

Chad Makuch is an estate planning and tax lawyer who focuses on counseling wealthy families, institutional trustees, other fiduciaries, and private foundations. 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 private foundations through the tax laws and regulations that govern them.

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. 
Trusts and Estates 
  • Represents trustees and executors, whether individuals or institutions, in the administration of large trusts and estates. 
Private Foundations 
  • Provides guidance in such areas as governance, fiduciary best practices, obtaining and maintaining tax exempt status, grant making and grant administration, unrelated business income taxes, and compliance with intermediate sanction rules to avoid excise taxes for self-dealing, jeopardy investments, excess business holdings, or taxable expenditures.
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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, grantor retained annuity trusts, 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, designed estate plans that preserved millions of dollars for the benefit of his clients' families and charities (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, helps clients avoid litigation or, where litigation becomes unavoidable, provides support to litigators.
Private Foundations
  • Provides guidance in such areas as governance, fiduciary best practices, obtaining and maintaining tax exempt status, grant making and grant administration, unrelated business income taxes, and compliance with intermediate sanction rules to avoid excise taxes for self-dealing, jeopardy investments, excess business holdings, or taxable expenditures.

Recognitions and Memberships

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 a 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. Basil the Great Catholic Church of Brecksville, Ohio (2016 to present)

Admissions

  • Ohio

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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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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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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