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OVERVIEW

David A. Malson
Partner

Grand Rapids

171 Monroe Avenue N.W.
Suite 1000
Grand Rapids, MI 49503-2694

P 616-742-3990

F 616-742-3999

OVERVIEW

David A. Malson
Partner

Grand Rapids

171 Monroe Avenue N.W.
Suite 1000
Grand Rapids, MI 49503-2694

P 616-742-3990

F 616-742-3999

David Malson has more than 30 years of experience in estate planning for high net worth clients; business succession planning for owners of privately owned companies; and the representation of dentists, orthodontists and other doctors regarding practice purchases and sales, general business advice and dispute resolution.

OVERVIEW

David A. Malson Partner

Grand Rapids

171 Monroe Avenue N.W.
Suite 1000
Grand Rapids, MI 49503-2694

P : 616-742-3990

David Malson has more than 30 years of experience in estate planning for high net worth clients; business succession planning for owners of privately owned companies; and the representation of dentists, orthodontists and other doctors regarding practice purchases and sales, general business advice and dispute resolution.

David also serves as outside general counsel for privately and publicly held companies.

Estate Planning

David works on estate plans ranging in size from moderate to extensive. Typical projects involve complex planning for families with substantial net worth, owners of privately held companies and doctors. David works with clients to identify planning goals, options for achieving their goals, and action steps post-execution of documents to achieve the planning goals. Client needs differ from family to family, and solutions for clients can only be determined after having proper discussions over time to develop and implement the plan, along with defined scopes and timetables, deliverables and pre-planned budgets

Business Succession Planning

David helps business owners to develop effective succession plans to transfer their ownership interests and monetize the same. He talks with clients to determine what their goals are and counsels them on multiple succession planning options, including sales to third parties, sales to family members and key employees, gifts of ownership positions, and combinations of both sales and gifts strategies.

David also works closely with business owners to integrate their personal estate plan with their business succession plan. Many business owners have more than half of their total family net worth tied up in the equity of their privately owned company and company real estate. Each family’s financial goals also must address tax planning, including estate taxes, gift taxes, income taxes and capital gains taxes. Family dynamics (children involved in the family business, children who are not involved in the family business, the ability of the company to move from one generation to the next, etc.) are variables that require customization for each business owner. David has worked with a wide variety of owners and executives of privately owned companies, including companies involved in manufacturing, retail, real estate development, the service industry, technology and international sales.

Dentists, Orthodontists and Health Care Practice Entities

David has worked broadly with doctors and their practice entities. He has assisted doctors with regard to forming, buying and selling practice entities, as well as with running practice entities. David has worked with a variety of doctors and practice fields, but has focused much of his professional representation on dentists, orthodontists and other dental specialties. At any given time, David will be working on a dozen or more dental transactions and projects; he works with recent graduates seeking their first jobs and practice purchase opportunities, as well as seasoned doctors looking to implement a succession plan leading toward retirement or an outright sale of a practice.

Moreover, David often works on matters referred to him by CPAs, bankers, attorneys and doctors involving disputes arising between doctor partners, particularly with regard to practice governance, practice decisions and allocation of income from the practice.

Outside General Counsel

Over the course of David’s career, he has worked as outside general counsel for owners of privately owned companies ranging in size from $10 million to more than $250 million, and for select publicly traded companies, ranging in size from $500 million to $2 billion. In the role of outside general counsel, David serves as a trusted adviser and brings together firm resources and resources outside of the firm for the company’s benefit.

David actively presents and speaks on topics in his practice areas, including to universities and their students on doctor and practice entity matters, to nonprofit and private client service organizations on estate planning, and to business organizations on business succession planning.

Professional and Community Involvement

Member, State Bar of Michigan, Corporate Section

Member, State Bar of Michigan Probate and Estate Planning Section

Member, State Bar of Michigan Taxation Section

Board vice chair, Grand Rapids Catholic Central High School

Adviser, Grand Rapids Diocese Foundation for Catholic Secondary Education

Member, Catholic Charities of West Michigan Planned Giving Advisory Council

Board member, Kent County Literacy Council

Board member, Kids Against Hunger

Honors

The Best Lawyers in America, 2018 and 2019

Martindale-Hubbell, AV rated

EXPERIENCE
  • Our client owned approximately 14 acres of property in Northern Michigan that included approximately 250 feet of Lake Michigan frontage on the west boundary of the property and approximately 250 feet of frontage on an inland lake on the east boundary of the property. Our client inherited the property with her three siblings and a dispute arose with regard to how to own and manage the property. We advised our client of her rights to seek partition and we negotiated a stipulated agreement providing for a sale of our client’s interest in the property for approximately 95% of her claimed share of the estimate fair market value of the property. The 5% concession on fair market value was agreed to by our client to reflect the cost of pursuing the partition action and, additionally, the time value of money with regard to then selling the property.
  • Our firm represented a Major League Baseball Player with regard to the negotiation and drafting of an integrated pre-nuptial agreement and estate plan. The client was entering his option year which provided for a final year bonus of between $6 Million and $12 Million depending upon whether his option was picked up. If the option was picked up, the client would also earn between another $25 Million to $35 Million for the option term. The pre-nuptial agreement and the estate plan agreement terms were negotiated on a wide range of assumptions and variables which were dependent upon performance and decisions made by the client’s club.
  • This project involved our firm conducting initial due diligence with regard to our client’s interest in developing new business relationships in seven foreign companies. Five members of our firm conducted the initial due diligence in multiple areas, including 1) corporate registration requirements, 2) secondment review, 3) labor and employment requirements and issues, and 4) immigration requirements and issues. Our firm also engaged and worked with local counsel in each country through our TerraLex affiliates.
  • We designed and completed an integrated estate and succession plan for a high net worth client. The value of the estate was $50 million. Included in the work done was the design of a Joint Irrevocable Trust to hold $10 million of Joint Survivorship Life Insurance and a gift tax analysis based upon multiple options reviewed with regard to the design of the Joint Irrevocable Trust. We also conducted an estate tax analysis based upon multiple funding options utilizing Revocable Trust Agreements, the Joint Irrevocable Trust, and additional estate planning vehicles employed. We also assisted the client in funding the Trust Agreements and related, integrated succession planning related to the client’s primary company (which was a privately owned company).
  • We represented the owners of a privately owned company which had 8 affiliated companies to reorganize the primary company as a holding company, create a succession plan and integrate the succession plan with revised, updated estate plan documents. The owners of the privately owned company were a husband and wife both in second marriages and both had children from first marriages. One of the children was actively involved with two of the affiliated companies. The collective value of the companies and other estate assets totaled approximately $25 million.
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