Jere D. McGaffey is a retired partner in Foley & Lardner LLP's Milwaukee office, and former chair of the firm's Finance Committee and member of the Management Committee. He was a member and past chair of the Tax and Individual Planning Department. While counseling on varied and numerous corporate and institutional tax matters, his practice was primarily focused on the tax aspects of acquisitions and other corporate transactions and survivorship and estate planning for wealthy individuals.
His more than 40 years of experience include structuring tax-free reorganizations involving multiple classes of stock, the uses of net operating losses in acquisitions, the organization of S corporations, and tax-reducing like-kind exchanges in acquisitions. He has extensive experience in executive compensation, including stock-based compensation, golden parachutes, split dollar insurance and insurance as a private pension.
Mr. McGaffey is a former chair of the American Bar Association Section on Taxation (membership 27,000), former chair of the American College of Tax Counsel (the top 500 tax attorneys in the United States), a regent of the American College of Trust and Estate Counsel, and was selected as the Wisconsin Outstanding Tax Professional in 1989. He is a former member of the Advisory Board of CCH Tax Transactions Library, Merten's Law of Taxation, and listed in Who's Who in America, Who's Who in American Law, and The Best Lawyers in America.
Mr. McGaffey is author of an eight-volume treatise on taxation, Tax Analysis and Forms, Business Transactions and Estate Planning (West Group), a book on acquisitions, and numerous journal articles. He lectures to national audiences at professional tax meetings of tax law institutes.
Mr. McGaffey is a former director of Smith Investment Company (owner of the controlling interest in A.O. Smith Corporation), Northwestern Mutual Trust Company, Inc., WICOR (parent company to Wisconsin Gas Corporation and others). He is former chair of the Metropolitan Association of Commerce Tax Committee and vice chair for legislation. He is a former chairman of the Wisconsin Taxpayers Alliance and a member of the advisory group to the Wisconsin Commissioner of Securities on Takeover Legislation.
Mr. McGaffey received his law degree, magna cum laude, from Harvard Law School, where he was on the law review, and received both a B.A. and B.S. in accountancy from the University of Nebraska, where he
was first in his class. He is a Certified Public Accountant.
PRACTICE
Member of Foley & Lardner at its original office in Milwaukee, Wisconsin.
He is the former head of the Firm`s Tax and Individual Planning Department.
His practice is in the general area of tax and estate planning, including
income, gift, estate and generation skipping tax planning and trust administration.
His practice also includes a general corporate and partnership tax practice,
acquisitions and planning for closely held corporations.
ORGANIZATIONS
Past Chair- Section of Taxation, American Bar Association 1990-91
Past Chair American College of Tax Counsel 1996-98
Fellow American College of Trust & Estate Counsel (former Chair of
Business Planning Committee)
Director, American Tax Policy Institute
Former Member Advisory Committee for Mertens Law of Taxation, CCH Tax
Transaction Library and Little, Brown Tax Library
Past Member Advisory Board, Miami Estate Planning Institute
Former Chair Wisconsin Taxpayers Alliance
Chair Taxation Committee Metropolitan Milwaukee Association of Commerce
C.P.A.
PUBLICATIONS
Legal Forms with Tax Analysis, Business Transaction and Estate Planning
published by Callaghan & Co (seven volumes supplemented twice yearly)
Buying, Selling and Merging Business, ALI-ABA
College Education with Pre-tax Dollars, 15th Annual Miami Institute
on Estate Planning (1981)
The Inexact Throwback Rule and Multiple Trusts, 13th Annual Miami
Institute on Estate Planning (1979)
Pitfalls in Buy-Sell Agreements, 7th Annual Miami Institute on
Estate Planning (1973)
Planning the Client`s Life Insurance Program, 35th Annual NYU
Institute on Federal Taxation (1977)
Is There a Future in the Assignment of Life Insurance?, 5th Annual
Notre Dame estate Planning Institute (1980)
Numerous articles on corporate acquisitions and related topics.
EDUCATION HISTORY
B.A. and B.S. in Business Administration - University of Nebraska (1st
in Class) (1957)
LLB magna cum laude Harvard Law School (1961) Member Harvard Law Review