2024 Year End Letter from OLG

Dear Clients and Friends of O’Leary-Guth Law Office, S.C.,

We hope you and your loved ones are healthy and happy this holiday season. 2024 has been another busy year for O’Leary-Guth Law Office, S.C. ("OLG"). The OLG team has much to celebrate and share with you.

Milwaukee Business Journal - Best Places to Work Award!

A highlight of 2024 was winning a Best Places to Work award from the Milwaukee Business Journal. We are so proud of the workplace we maintain that balances hard work and excellence with effective communication and healthy doses of fun. 

Partnership Announcement

We are very excited to announce that Attorney Sam Azinger is now a partner in the firm. Sam has been an attorney with OLG for over seven years, and is our estate planning practice leader. Sam's intense commitment to our clients, the community, our firm, and unwavering excellence in estate planning, make him someone we are very proud to call our partner. 

Introducing Tax Manager, Alex Najera

In 2024 Alex Najera joined OLG as our new Tax Manager. Alex brings us many years of tax experience from his time with one of the big four accounting firms. We are excited Alex is now leading our tax services at OLG. 

Awards and Recognitions

Our firm is honored to have recieved numerous awards and recognitions for our commitment to excellence in 2024:

1.  The Firm was recognized by Best Lawyers in America in numerous categories, including Trusts and Estates, Business Organizations (LLCs and Partnerships), Closely Held Companies and Family Businesses Law, and Litigation - Trusts and Estates. 

2.  Attorneys Jeremy Guth and Maureen O'Leary were named Best Lawyers and Attorney Sam Azinger was named One to Watch by Best Lawyers in America. 

3.  Attorney Maureen O'Leary was named a Leader in the Law by BizTimes. 

4.  Attorney Maureen O'Leary was named to the Wisconsin Law Journal's PowerList of Estate Planning Attorneys  and she was named a Woman that Leads and a Legal All Star by the Wisconsin Law Journal. 

Legislative Updates

There has been a whirlwind of legislative activity keeping us busy in 2024. Of particular note: 

1. Corporate Transparency Act - If you own a business entity and have not yet filed a report with FinCEN (or confirmed whether you are exempt), it is essential you promptly do so. The prior December 31, 2024 filing deadline has been extended to Janaury 13, 2025 for most entities, but there are significant penalties for non-compliance. You can learn more here: Beneficial Ownership Information Reporting

2. Pending Estate Tax Cliff - The gift and estate tax exemption is scheduled to drop approximately in half on December 31, 2025. This means that taxpayers desiring to use a significant portion of their lifetime gift tax exemption should consider doing so as soon as possible in 2025, as legal professionals may not be available to assist with all such transactions later in 2025 if there is an overwhelming surge in demand. That being said, the current political landscape may result in new tax legislation in 2025 that could change the rules yet again. Please let us know now if you would like to discuss the possibility of significant gifting in 2025.   

Happy New Year!

Our team is working hard to prepare for what is sure to be another very busy year. We hope to hear from you in 2025. In the meantime, we wish you and your loved ones good health, good cheer, and much quality time with each other. 

Warmest of wishes,

Maureen O’Leary-Guth

President

O’Leary-Guth Law Office, S.C.