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Wills, Trusts & Estates

Crafting a comprehensive succession plan for holders of licensed businesses demands a nuanced understanding of regulatory requirements and licensing qualifications. The Danow Group recognizes the unique challenges posed by regulatory restrictions in estate planning and is committed to providing tailored solutions.
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Wills, Trusts & Estates Overview

Succession Planning for Licensed Entities

  • Experienced guidance on considering licensing qualifications when creating a succession plan for holders of licensed entity interests.
  • Recognition of state-imposed limitations on the number and types of licenses an individual can hold.

Spousal and Family Plans

  • Insight into state-specific regulations, such as restrictions on multiple off-premise licenses.
  • Strategies for addressing limitations when spouses each have an interest in a licensed entity, ensuring effective transfer plans.
  • Advice on how trusts can be employed to navigate licensing-related challenges in estate planning.

Regulatory Considerations

  • Awareness of the disqualification of individuals with felony records from holding interests in licensed entities.
  • Understanding restrictions on individuals holding interests in different tiers (e.g., supplier/wholesale vs. retail) within the beverage-alcohol and cannabis industries.
  • Strategies for using trusts to address tied-house issues and achieve estate planning goals that might be otherwise restricted.

The Danow Group is ready to assist you and your advisors in navigating the complexities of transferring assets subject to regulatory and licensing requirements. We help ensure that your estate plan aligns with regulatory considerations, providing a seamless transition for licensed business interests.

Latest News

Stay informed on the critical current issues related to Wills, Trusts & Estates Law

Storefront with cannabis leaf graphic and text advertising licensed sales.

Too Close For Comfort

Recently the State Office of Cannabis Management (“OCM”) notified 152 cannabis dispensaries and applicants that the location of their businesses were too close to a school or house of worship to qualify for a license. New York Cannabis Law §72(6) provides, “No cannabis retail licensee shall locate a storefront within five hundred feet of a school grounds as such […]

Woman selecting a bottle from shelves in a liquor store.

Wine Products Are Something Else

There seems to be a great deal of confusion surrounding the concept of wine products. In New York, “wine product” is a term of art that must be distinguished from “Wine”, “low alcohol wine”, and “wine specialty items.” Pursuant to §3 (36) of New York’s ABC Law, “Wine” means the product of the normal alcoholic […]

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Create a Retail Compliance Check List

Every retail on or off premise licensee should develop a compliance checklist and review it often and add to it from time to time.  Below is an outline of some of the points that should be included. Check to see if your license and the mandatory signs are properly posted and are visible to your […]