Basswood Counsel

Basswood Counsel Basswood Counsel | Navigating Legal Complexities with Care.

Basswood Counsel is a boutique law firm focusing on complex business transactions, advising on mergers and acquisitions, corporate law, commercial transactions, joint ventures, international tax structuring, fund formation and cross-border deals. Our experienced team provides the sophisticated legal services typically found at large firms, with the personalized attention of a smaller practice. We

routinely work with the tax practices of large law and accounting firms to optimally structure transactions for our clients. With extensive experience across a wide range of industries, we are well-equipped to handle your most intricate legal matters..

Foreign account reporting is not determined solely by whether an account earned income or had a balance at the end of th...
08/11/2026

Foreign account reporting is not determined solely by whether an account earned income or had a balance at the end of the year.

The FBAR analysis may involve the maximum values of multiple accounts, joint ownership, interests in foreign entities, and signature authority over accounts owned by another person or business. The definition of a US person may also extend beyond individuals to certain US entities. These distinctions can be particularly important for families, executives, business owners, and others whose financial lives cross national borders.

Listen to this podcast for key insights and understanding the differences and overlap between FBAR and FATCA:

👉 Website: https://basswoodcounsel.com/podcast/s2-ep-3-fbar-and-fatca-explained-understanding-differences-overlap/
👉 YouTube: https://youtu.be/xZkHqpIc7cQ
👉 Apple Podcasts: https://podcasts.apple.com/us/podcast/fbar-and-fatca-explained-understanding-the/id1789348156?i=1000750729987
👉 Spotify: https://open.spotify.com/episode/3zNI2XB1xAmwaLyY6DDQPE?si=WdQMlktISuGlBEU--oOMuQ

Contact the Basswood Counsel team to discuss the reporting considerations relevant to your accounts, ownership interests, or authority.

Estate planning decisions are made based on a person’s circumstances at a particular point in time. Those circumstances ...
08/10/2026

Estate planning decisions are made based on a person’s circumstances at a particular point in time. Those circumstances rarely remain static.

Children grow older. Family relationships change. Assets increase or shift. New property may be acquired. A person selected as guardian, trustee, agent, or beneficiary may no longer be available or appropriate.

Listen to this podcast to understand why several developments that may signal it is time to revisit an existing estate plan:

➡️ Website: https://basswoodcounsel.com/podcast/s2-episode-5-strategic-importance-of-estate-planning/
➡️ Apple Podcasts: https://podcasts.apple.com/no/podcast/the-strategic-importance-of-estate-planning/id1789348156?i=1000752623363
➡️ Spotify: https://open.spotify.com/episode/6IthyDlphMxhkZATLZnseK?si=yW-gzDHiTa-nT8t4WVMu_w

Contact the Basswood Counsel team to discuss the considerations relevant to updating your plan.

The way a foreign company enters the United States can affect how it eventually exits. A stock sale, asset sale, dividen...
08/07/2026

The way a foreign company enters the United States can affect how it eventually exits.

A stock sale, asset sale, dividend distribution, or liquidation may each create a different combination of corporate-level tax, shareholder tax, withholding, and home-country tax consequences. U.S. real property may also change the analysis.

For that reason, an exit should not be evaluated only through the U.S. tax result. A structure that appears favorable in the United States may create a different consequence in the owner’s home country or another relevant jurisdiction.

Listen to this podcast: https://basswoodcounsel.com/podcast/coming-to-america-how-foreign-companies-taxed-u-s/ to understand key considerations foreign companies may need to evaluate when planning how value will eventually leave a U.S. operation.

🟢Apple Podcasts: https://podcasts.apple.com/us/podcast/coming-to-america-part-2-key-u-s-tax-considerations/id1789348156?i=1000750194927

🟢Spotify: https://open.spotify.com/episode/3wyzNPkkBa8GwkbQjzFB4O?si=Q8GNiOkoTuSka8U0yb8rxA

Contact Basswood Counsel to discuss the legal and tax considerations involved in establishing, operating, or exiting a U.S. business.

Exiting a controlled foreign corporation can create significant U.S. tax consequences, from unexpected income recognitio...
08/06/2026

Exiting a controlled foreign corporation can create significant U.S. tax consequences, from unexpected income recognition to complex reporting and planning considerations.

On Wednesday, August 12, 2026, Basswood Counsel co-founders Christopher M. Klug and Gina Jeyoung Lee will present “Tax Considerations When Exiting a Controlled Foreign Corporation” through BARBRI, a leading legal learning solutions. The 90-minute live webinar will examine CFC liquidations and stock dispositions, including Subpart F and GILTI/NCTI income, Sections 1248 and 962, check-the-box elections, and F reorganizations.

Join us at 1:00 p.m. ET / 10:00 a.m. PT for practical guidance on identifying potential tax exposure and evaluating available planning strategies.

Register through BARBRI:
https://www.barbri.com/course/professional-development/cle-cpe/tax-considerations-when-exiting-a-controlled-foreign-corpora_2026-08-12

Use this registration code for FREE access to the webinar live or on-demand: Klug 3nxS7IAIACV2

Preparing estate planning documents is an important step, but the process may not end when the documents are signed. A t...
08/05/2026

Preparing estate planning documents is an important step, but the process may not end when the documents are signed.

A trust may need to be funded. Assets may need to be retitled. Beneficiary designations may need to be reviewed. Documents must also be coordinated so that each component supports the person’s intended result.

These details can be especially important when planning for minor children or when certain assets pass outside a will.

Listen to this podcast to know why implementation and follow-through are central parts of estate planning, not merely administrative tasks after the legal work is finished:

➡️ Website: https://basswoodcounsel.com/podcast/s2-episode-5-strategic-importance-of-estate-planning/
➡️ Apple Podcasts: https://podcasts.apple.com/no/podcast/the-strategic-importance-of-estate-planning/id1789348156?i=1000752623363
➡️ Spotify: https://open.spotify.com/episode/6IthyDlphMxhkZATLZnseK?si=yW-gzDHiTa-nT8t4WVMu_w

Contact the Basswood Counsel team to discuss whether the documents and assets within your estate plan are properly coordinated.

A will or trust may be an important part of an estate plan, but the document itself is not the entire plan. Effective es...
08/04/2026

A will or trust may be an important part of an estate plan, but the document itself is not the entire plan.

Effective estate planning may require a broader review of your assets, debts, beneficiary designations, retirement needs, family responsibilities, business interests, charitable intentions, and wishes in the event of incapacity.

Coordination becomes particularly important when assets are located in multiple states or countries, where different legal systems may affect how property is transferred.

Listen to this podcast for key considerations that may help shape a more complete estate planning discussion: https://basswoodcounsel.com/podcast/s2-episode-5-strategic-importance-of-estate-planning/

Contact the Basswood Counsel team to discuss the legal and planning considerations relevant to your circumstances.

U.S. businesses considering expansion into Europe may view Spain as a potential entry point, but operating in a new juri...
08/03/2026

U.S. businesses considering expansion into Europe may view Spain as a potential entry point, but operating in a new jurisdiction brings questions that should be addressed early in the planning process.

Christopher Klug, Equity Partner and Co-Founder of Basswood Counsel, and Meritxell Mont, International Legal Advisor at Capital Auditors & Consultants, discuss what companies should consider when evaluating Spain.

Listen to the full episode to learn more:

➡️ Website: https://basswoodcounsel.com/podcast/spain-market-entry-us-companies/
➡️ YouTube: https://youtu.be/vk3Skt_jlY0
➡️ Apple Podcasts: https://podcasts.apple.com/us/podcast/spain-as-a-gateway-to-europe-planning-a-u-s-expansion/id1789348156?i=1000779627809
➡️ Spotify: https://open.spotify.com/episode/1BwnOjXVjIFl91nAZn6f22?si=sHSw_N6AR6Cwria2XB7FKw

Topics include Spain’s workforce and infrastructure, local hiring and employment requirements, permanent establishment considerations, remote sales, establishing a local presence, and acquiring an existing Spanish company.

For businesses evaluating opportunities in Spain or the broader European market, listen to the full episode of Under the Basswood Tree.

07/31/2026

In Part 2 of the broker-dealer compliance series, Jephte Lanthia and Erik Dolan discuss the ongoing supervision, communications review, investor protection obligations, and regulatory preparedness firms need as their operations evolve and regulatory scrutiny increases. The episode highlights why compliance should function as part of the firm’s infrastructure rather than a reactive obligation.

Listen to the podcast here:

Website: https://basswoodcounsel.com/podcast/broker-dealer-compliance-deep-dive-part-2-operations-reg-bi-ai-oversight/
YouTube: https://youtu.be/d_sSZqnNI24
Spotify: https://creators.spotify.com/dash/show/3cdm8uD2Yc9Nc6Y7fjXiZH/episode/0nVgLsup3lwTfvCMAYQ75C/details
Apple Podcasts: https://podcasts.apple.com/us/podcast/part-2-broker-dealer-compliance-deep-dive-beyond-registration/id1789348156?i=1000774019897

Exiting a controlled foreign corporation can trigger significant—and sometimes unexpected—U.S. tax consequences for shar...
07/30/2026

Exiting a controlled foreign corporation can trigger significant—and sometimes unexpected—U.S. tax consequences for shareholders, business owners, and their advisers. On August 12, 2026, Christopher M. Klug and Gina Jeyoung Lee of Basswood Counsel will present a live BARBRI webinar examining the tax implications of CFC liquidations and stock dispositions, including Subpart F, GILTI/NCTI, Sections 1248 and 962, check-the-box elections, and F reorganizations. The 90-minute program will provide practical guidance on identifying potential tax exposure and evaluating strategies that may help mitigate the consequences of a CFC exit.

A limited number of complimentary passes are available for live or on-demand access using code Klug 3nxS7IAIACV2. The code is available to the first 10 registrants, so early registration is encouraged.

Register here: https://www.barbri.com/course/professional-development/cle-cpe/tax-considerations-when-exiting-a-controlled-foreign-corpora_2026-08-12

Selecting a trustee is a critical part of building an effective trust-based estate plan. Although many families naturall...
07/29/2026

Selecting a trustee is a critical part of building an effective trust-based estate plan. Although many families naturally turn to a relative, that arrangement may not always provide the consistency, impartiality, or administrative experience the trust will need over time. In the right circumstances, a corporate trustee can offer professional oversight, continuity, and neutrality while helping ensure the grantor’s intentions are carried out as designed. Making the right trustee decision now can help preserve both family wealth and family harmony for years to come.

Read the full article here: https://basswoodcounsel.com/when-to-appoint-a-corporate-trustee/

Address

1300 L Street NW, Suite 975
Washington D.C., DC
20005

Opening Hours

Monday 9am - 5pm
Tuesday 9am - 5pm
Wednesday 9am - 5pm
Thursday 9am - 5pm
Friday 9am - 5pm

Telephone

+12029804788

Website

Alerts

Be the first to know and let us send you an email when Basswood Counsel posts news and promotions. Your email address will not be used for any other purpose, and you can unsubscribe at any time.

Shortcuts

Featured

Share

Category