Biography
Mr. Schar has nearly 35 years of experience creating estate plans for entrepreneurs, executives and prosperous families, allowing wealth to pass from generation to generation while minimizing tax consequences.
Mr. Schar represents numerous family-owned businesses and he offers extensive knowledge of the succession, retirement and estate planning issues impacting family business owners. In addition, he has handled federal estate tax audits for family-owned businesses and he has succeeded in obtaining substantial reductions in business valuations for tax purposes.
Demonstrating his experience, Mr. Schar devised a plan to save the owners of a substantial Chicago-area family business over $30 million by implementing a major gift program that preserved the family’s ownership succession. He also helped restructure family businesses worth $24 million into limited partnerships that maintained family control yet provided substantial income to family members not active in the business.
Education
J.D., DePaul University College of Law (1970)
- Case Note Editor, DePaul Law Review
B.A., University of Chicago (1967)
Admissions
- Illinois