Bill Cisar left his career working as an associate at a boutique firm to establish his own practice as an expert in formation of private foundations and other exempt entities, opening this option up even for small businesses or lesser established clients. In this episode, Bill talks about the importance of making legal needs available to everyone, including small businesses and individuals and the greatest benefit of making a private foundation: the potential for legacy-building and ownership.
He also discusses simple but utterly helpful technological advances that the system has had that will make your career certainly less of a hassle. Listen in if you want to know all about these things, and about when and why you should recommend building a private foundation to your client.
Timestamps:
Quote:
“...You want to have this name, recognition and purpose, to keep moving forward. And that, I have found in my practice, is the number one driver for individuals”
“ So you know, the tax benefits are there, the deductions are there, which is fantastic. It's not as great as just donating off to a public charity, but I think the retainment of the control is really what entices people”
“I would like to see attorney public reputation improved…we’ve got to find a way to be more client oriented… do a better job acting as counselors as opposed to just random suits that are there to draft the documents and send it out. ”
Hubbard Street Consulting
LinkedIn: https://www.linkedin.com/in/bill-cisar-680b66a1/
BILL CISAR, Owner of Hubbard Street Consulting
Bill is the owner of Hubbard Street Consulting, he opened his own solo practice in 2019 and he specializes in small business matters, estate planning, contract and non-profit formation and governance. One of the cornerstones of his practice is the formation of private foundations and other exempt entities and 1023 for charitable and estate planning purposes.
He has acted as second chair at Cisar & Mrofka, Ltd., held a leadership role in drafting pleadings for the defense in a civil litigation controversy involving claims of promissory estoppel, fraud, breach of contract, equitable estoppel, third party beneficiary liability, and failure to file a mechanic’s lien. He has also incorporated and maintained small businesses for clients with an emphasis on limiting tax liability.
The YMCA of Metro Chicago Associate Board recognizes Bill as an Associate Board Member. He participates in volunteer events and supports them in fundraising initiatives at Metro Chicago.
Get the full transcription of this episode of The 1958 Lawyer:
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