Darin T. Jensen
Corporate & Business Law, Estate Planning, Trusts & Probate Tax
Darin Jensen’s practice concentrates on private family companies and their owners. His unique background in law and accounting makes him particularly well-suited to handle complex tax and business matters. Darin advises business owners on general business planning and family wealth succession strategies. As a business attorney, he assists individuals, businesses, tax-exempt organizations, and private family foundations in a variety of matters such as business formation and on-going operation, drafting and advising business succession plans, federal and state tax consulting, and exit strategies. As an estate planning attorney, he has created many estate plans that successfully navigate the complexities of state and federal law.
- Bachelor of Arts (double major: Economics, Sociology), Minor in Business Administration, 1994, Seattle Pacific University
- J.D., 2001; Seattle University School of Law
- LL.M. Taxation, 2004, University of Washington School of Law
- Succession Planning for Private Family - As an attorney for many private businesses, Darin develops and implements many succession plans and other plans of reorganization to facilitate and methodically transfer ownership and control to successive generations. Since 2009, Darin has coordinated over $450 million in wealth transfers to the next generation of company leaders by utilizing family limited liability companies, sales to trusts, intra-familial loan arrangements, redemption agreements, and private foundations.
- Formation, Operation and Liquidation of Businesses - Darin assists with forming and reorganizing businesses. Darin has a deep understanding of the accounting and taxation for partnerships (and LLCs), corporate (and S-corporations), and charitable organizations. This knowledge helps influence the negotiation and structuring of limited liability companies, joint ventures and other agreements. In one particular transaction, Darin reviewed a client’s exercise of options in a partnership merger and provided an analysis that converted $5.3M from potential ordinary income to long-term capital gain income and saved the client over $1M in tax.
- Estate Planning - Darin prepares many advanced estate plans including wills and trusts (irrevocable and revocable), charitable and family gifts, private foundations, and family limited liability companies. He structures and implements Grantor Retained Annuity Trusts, Irrevocable Life Insurance Trusts, Charitable Lead Trusts, Chaitable Remainder Trusts, Generation Skipping Trusts, and other sophisticated trusts. Darin also consults clients with regard to best places to pass away from an estate tax standpoint.
- Probate Administration and Post-Mortem Tax Planning - Darin handles the legal administration of many large and small estates. In particular, he gives special consideration to post-mortem tax planning. In a recent case, Darin reviewed a decedent’s retirement plan documents and composed a strategy that enabled the surviving spouse to increase the amount of assets available to him for funding a special tax exempt trust so that transfers to future generations would be precluded from federal and state estate tax all while the surviving spouse’s receipts under his wife’s estate planning documents remained unchanged. Darin also advises with tax return preparation and filing because there are many elections with legal significance that are required to be filed with the tax return.
Publications & Presentations
- Co-Author, Puget Sound Business Journal, “Five Succession Tips for Private Family Businesses,” March 2015
- “Residency, Domicile, and Choice of Law,” 59th Annual Northwest Estate Planning Conference, Seattle, WA, October 2014
- “Use of LLCs in Asset Protection and Estate Planning,” National Business Institute, Seattle, WA, May 2014
- “Gifting and GST Tax Planning,” National Business Institute, June 2012
- “The Coalescence of Five Favorable Estate Planning Factors Making This the Perfect Time for Advanced Estate Planning,” Morgan Stanley Smith Barney, May 2012
- “Tax Issues, Succession Planning, and Estate Planning Related to Family Businesses,” Seattle University - Undergraduate Program, 2011
- “2010 Tax Act; Estate Planning; and Succession Planning,” Seattle University - MBA Program, 2011
- Author, WSBA Real Property, Probate & Trust Newsletter, “Reasons to Use an Exemption Trust Despite the Portability Exemption,” Spring 2011
- Contributing Author, CCH, ” Practical Guide to Form 990 ” (2009)
- Author, Legal Guide on Avvo.com, “Tax Accounting Method for LLCs” (2010)