edwardjager_opulent_22_12

  • Bar Admissions
    Massachusetts

    New York

    U.S. District Court for District of Massachusetts

    U.S. Court of Appeals for the First Circuit

    U.S. Tax Court

    U.S. Supreme Court
  • Memberships
    Boston Bar Association

    Massachusetts Bar Association

    Boston Estate Planning Council
  • Awards & Recognition
    Named as a "Super Lawyer", Massachusetts Super Lawyers, June 2005

    Honored as a Founder of the Boston College Legal Assistance Bureau, Inc., May 2009
  • Education
    Boston College Law School, Juris Doctor 1971

    Northeastern University, Bachelor of Science, Magna Cum Laude, 1968
  • Publications & Speaking
    Taxation of Stock of Banks for Cooperatives, Boston College Commercial & Industrial Law Review, Vol. XII, No. 6.

    Presentation of family business succession and tax strategies to various professional organizations and members since 1975.
  • Community Involvement
    Member, Board of Directors of the Visiting Nurse Association of Boston Hospice Care (VNAB)

    Recognized as a top Business/Commercial law attorney in Top Rated Lawyers for 2012 by Martindale-Hubbell

Edward Gerard Jager is a founding partner of Jager Smith. He manages and directs the firm's Business, Tax and Estate Planning Group. Ed has counseled owners of closely-held corporate entities, and their families, for over thirty years. He provides legal advice and business expertise in the areas of corporate law, mergers and acquisitions, corporate finance and advanced estate planning techniques, as well as the development and implementation of multi-generation succession plans and wealth transition strategies. Prior to founding the firm with Bruce F. Smith, Ed was employed in the tax department of Ernst & Whinney (now Ernst & Young).

notableexperience_opulent_22
  • Counsel for over 25 years to sole owner and founder of Massachusetts corporation which manufactures, distributes and exports custom packaging and crating solutions. Guided company through multiple acquisitions to increase market share. Implemented long-range wealth transition strategies to reduce estate taxes over three generations of corporate ownership, including generation-skipping strategies and securing of a private letter ruling from Internal Revenue Service in 1979 to freeze estate value of stock owned by founder. Administered founder's estate in 2002, obtained closing letters from Internal Revenue Service and Commonwealth of Massachusetts confirming success of all long-term strategies so as to substantially limit estate tax impact on company and maximize generational wealth transfers. Counseled shareholders with regard to, and implemented shareholder voting trust to streamline and centralize shareholder decision-making and minimize potential conflicts among third generation owners. Advised in forming board comprised of a majority of outside directors with significant business expertise thus avoiding typical family dominated board structure.
  • Advised co-owner of closely-held corporation with multi-state manufacturing and distribution locations in $35 million asset sale of largest product division to "roll-up" buyer. Negotiated sale of remaining division to co-owner.
  • Advised a leading Massachusetts technology corporation in $1 billion plus proposed sale at height of so-called "tech boom" in late 2001. Abrupt changes in the market resulted in company withdrawing from the sale, upon which Ed advised company on "downsizing" strategies so as to ensure continued viability of company's core manufacturing and technology product lines. Advised company with regard to recent acquisition of former Corning optical subsidiary resulting in sustained growth and profitability as a major nationwide manufacturer of specialized optical products.
  • Counsel to individuals and families with complex real estate, business and financial assets; formulate and implement wealth transfer strategies through use of business succession plans, grantor retained annuity trusts, qualified personal resident trusts, limited liability companies and other sophisticated planning devices to achieve family objectives and optimize estate tax deferrals and savings.