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.
More »

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

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
Proposed Regulations Under IRC Section 2704 Seek to Eliminate Discounts on Transfers of Family Business Interests
September 23, 2016
On Aug. 2, 2016, the Treasury Department and the Internal Revenue Service released proposed regulations under Internal Revenue Code (Code) section 2704 (the “Proposed Regulations”). The Proposed Regulations, if finalized in their proposed...
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WealthDirector
The Donor Advised Fund Alternative to a Family Foundation
August 31, 2016
There are several gifting vehicles that provide donors and their families with the opportunity to participate in their philanthropy on an ongoing basis. Frequently, families will consider creating and funding a private family foundation...
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WealthDirector
IRS Simplifies Rules for Correcting Failed Rollover
August 25, 2016
On August 24, 2016 the IRS published Revenue Procedure 2016-47, which simplifies the steps for correcting a missed rollover from a qualified plan or IRA to another qualified plan or IRA. Amounts distributed from a qualified plan or IRA...
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WealthDirector
What do Prince, Michael Jackson, and Whitney Houston Have in Common?
July 12, 2016
Michael Jackson, Prince and Whitney Houston each revolutionized the music industry and impacted popular music for decades. We all appreciate how Michael Jackson moonwalked across the stage, Prince made it (purple) rain and Whitney Houston...
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WealthDirector
Governor Kasich Signs House Bill 229 to Create Ohio Family Trust Company Act
June 16, 2016
On June 14, 2016, Governor Kasich signed House Bill 229 into law. The bill, which was over two years in the making, allows an Ohio family to establish its own trust company to serve as trustee for its family trusts. The legislation...
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