When Bill Hesch practices law, he draws upon his extensive accounting and financial planning background. As one of a relatively small number of attorneys holding both a Certified Public Accounting (CPA) and Personal Financial Specialist (PFS) designation, you might say Bill is the ultimate legal planner.

It's not just his formal education that makes Bill Hesch unique in the legal field. Bill is an entrepreneur and former CFO. He started his practice 13 years ago, building up his law and CPA firm to where it is today. He knows how to run a business as well as start up a business. He has what he calls "inside perspective."

"It's that practical experience that makes me effective in understanding the issues that business owners are dealing with, that most attorneys don't have. I've got a lot of really good experience working with clients as a business advisor, a CFO, being an entrepreneur and the experience of being in business with my brother," Bill says.

Helping clients take and keep control of their assets. Planning for their financial future. Working with them to buy, sell or develop a business. Bill's unique knowledge, expertise and skill as both legal and business advisor is what keep his clients coming back.

Legal & CPA Services Go Hand-in-hand
ESTATE PLANNING

Estate planning is a major part of Bill Hesch's practice as an attorney. But it's his expertise as a CPA and financial planner that adds value to the services he provides. His clients come to him for wills, trusts and other estate planning vehicles as well as protection of the assets they've so carefully accumulated over the years.

Bill's clients are well prepared when it comes to administration of their estates for income tax planning purposes. Most law firms are not qualified to prepare Ohio and Federal estate tax returns, nor are most CPA firms as completely familiar with probate law as Bill's firm. So why not hire an attorney familiar with all aspects of asset protection, estate planning and probate law, tax planning and financial planning?

"With my background, being both a CPA and attorney, is where that Personal Financial Specialist designation really comes in as a financial planner. I was one of the first 400 CPAs in the country to get certified back in 1988, and I'm still among only 3,600 CPAs across the country with a PFS designation," Bill says.

BUYING & SELLING A BUSINESS

Bill Hesch helped one of his long-time clients save $1 million in taxes when he first took over as his CPA more than 10 years ago. Last year, he helped that same client save another $1 million when it was time to sell his business.
Developing long-term, multi-discipline relationships with clients is one way Bill gets to know their particular needs. It helps when structuring the sale from a tax standpoint and also aids in putting together a contract that is favorable to the buyer and seller alike.
"It really makes sense. When I help clients buy or sell their business, as an attorney and CPA, I can structure the sale in order to save a lot of tax dollars on the sale of the assets of the company," Bill explains.

PLANNING & FORMATION OF A BUSINESS

Not only can Bill save clients money when it's time to buy or sell a business, he also helps clients looking to start up a company. Creating the right business entity can help save a company plenty of tax dollars over the course of a lifetime.
"For instance, we have a lot of clients that own real estate, and we try to help them from an asset protection standpoint with using the 'limited liability company' designation, which helps secure those assets," Bill says. "Also, I started up my own practice, so I've walked in those shoes and know all the issues that a start-up company is dealing with."
It's the rare attorney who is so diversified that he can help with all the business, financial and legal issues of a business start-up. There really continues to be no other attorney, CPA and financial planner practicing under one roof in Greater Cincinnati who can offer such a package deal.

BUSINESS VALUATION

One of the biggest issues that arise when structuring corporate buy/sell agreements is that of valuation. What kind of formula will be used to value the business? How do you put a succession plan together? It's often difficult to pin down — every situation is so unique and so different.

As both attorney and CPA, Bill is exceptionally qualified to work with companies in coming up with a value for their business. "I serve as an expert witness as a CPA testifying on the values of businesses and work with the CPA in my office, who is accredited in business valuation," Bill explains.

As for succession planning for business owners, Bill has handled dozens of transactions where ownership is being transferred to key employees with the intention of them buying out the business owner over a five- or 10-year period. Again, clients count on both his legal and financial expertise to get the right results, with a mutually beneficial outcome for all.

Elder Law Planning

Today's maturing baby boomers are concerned about Medicaid and skyrocketing insurance costs. A nursing home can eat up their entire savings. It's especially true for high net-worth individuals, but just about anyone can be at risk. Even those with relatively small estates.

"You've worked a lifetime and you're afraid your medical expenses are basically going to eat up everything you've saved over 70 or 80 years. My clients are very interested in trying to do some planning to leave that inheritance to their children," says Bill, who has estate planning answers for every scenario.

It's an important issue for older clients; everybody is living longer and long-term care insurance may not be an option. Bill can salvage even the worst situation, so that those who want to pass on some of their estate to a spouse or children can do so with peace of mind.

Doctor Says Bill Hesch is the Right Medicine

Here's what Dr. Sanjay Patil, doctor of cardiology at St. Elizabeth Medical Center, has to say about Bill's work:
I've worked with Bill Hesch for several years now. I was originally referred to him regarding a legal issue, some estate planning I needed done. He also helped with a corporate operating agreement for my business. Today he is also my accountant; there's great synergism to the way his businesses all work together.

Bill is one of the most responsive, creative and detailed people I know. He is great at anticipating all aspects of a project and leaves nothing to the last minute. He can tackle 12 directions at the same time and for someone like me, working on 15 different projects at once, he really gets the job done. He'll even call me at 8:00 in the evening on a Saturday or Sunday to make sure what needs to get done does get done.

Dick Crist: A Happy Client

Richard D. Crist is the owner of DMC Holdings Ltd. Co. located in Florence, Kentucky, and is the current chairman of the Greater Cincinnati/Northern Kentucky International Airport Board. DMC Holdings consists of 15 companies including construction, contracting and management, land development and industrial minerals mine in Owensboro, Kentucky. It also develops and invests in property as well as in stocks and bonds. William E. Hesch provides DMC with financial and legal advice, tax planning, personal estate planning, asset management, tax management planning, business plans and organization of startups, and updates with changing tax laws.

"I deal with Bill Hesch and have since the early '90s when I had an IRS audit. Bill led me through that very well. I've used him ever since for my legal and accounting work, mainly because he and his staff are always current. They attend all the latest seminars. They are current — I'd say on a weekly basis — with the changes in the IRS regulations or any legality or law pertaining to the things I do. He and his staff are religious about continuing education, and he has sufficient staff to do that — attorneys in-house that are well versed.

"Also Bill has become very well respected in the Greater Cincinnati area due to his pursuing all this continuing education and the knowledge he possesses in both estate and legal work and CPA work. Likewise, his people are current on their knowledge of what goes on. That's one of the main reasons I use his services. He has enough staff to get things done competently and on time. The hardest thing sometimes for us in this business is finding a lawyer or an accountant that'll get things done on time. They call you Friday and tell you what they didn't get done the last week. But Bill will call you Friday and say, 'You better be here Monday because I have everything ready to sign.'

"Bill is always available. He uses his cell phone more than he uses his office phone. He might call me on Saturday if he has an issue, or I feel free to call him at odd non-business hours. I have a very good working relationship with him and his people, and I'm satisfied with him and his work. I'm confident of his competency and that of his staff."

KEEPING THE FIRE ALIVE

An Interview with Bill Hesch's Newest Hire


Amy E. Pennekamp, a bright and charming law recruit from Chase College of Law, was officially sworn in as an attorney a week or so after learning she passed the state bar exam this past October. But even before she started working as a lawyer, Amy gained years of business experience by working her way through high school and college at a big insurance company.

Now she works full-time for William E. Hesch law firm, where she's worked since her second year of law school. Today, at 25, Amy's extensive business experience and diverse education is an asset to the Greater Cincinnati law firm.
A lifelong resident of Cincinnati, Amy's undergraduate degree is in business administration with an emphasis on finance, which serves her well on the job. "My strength is a business background — and I'm a numbers person. But I've always wanted to go to law school and be a lawyer," Amy says. Working at Hesch allows her to incorporate her finance background with a law career.

Her dual perspective — business/finance and law — is what initially attracted her to the firm, but after working there for more than two years, she's sure it's the right fit.

"I think Bill and I are a good team. He has obviously a lot more experience than I do, but we complement each other. I like the fact that there is a CPA office in a law office. I didn't want to give up finance because I really like it," Amy explains, adding she has no intention at this time of getting her CPA certification because she loves practicing law.

The other advantage of working at the law firm? Bill Hesch is a great mentor, according to Amy. "So many people in Cincinnati and Northern Kentucky know him. When I said I was going to work for him, everybody knew him and thought very highly of him," she says. Now Bill is passing along his own networking savvy to his protégé — he keeps Amy apprised of upcoming events to ensure she stays as well-connected as he is.

Amy says her boss is also generous in encouraging personal growth for his employees and endorses continuing education and attending seminars to learn more about law and updates in the law. But more than education itself, Amy admires the way Bill markets himself and his business.

"We all went to law school; everyone knows the law and can draft documents. But over time, I would like to bring in business as a contributor to the firm. People really have to learn to market themselves and bring in business," Amy says, "and I think Bill does a really good job at doing that. I think he will be a good example for me."

BENEFITS OF A DUAL PRACTICE
Law
Estate Planning
Buy/Sell Businesses
Partnerships
Leases

Having a CPA firm that provides direct support for a law firm is a powerful combination. You've got ready resources, the ease of appointment scheduling, and a business advisor who is highly competent in both law and personal finance.
The blend of CPA and financial planning is certainly what puts William E. Hesch law firm in a league of its own. It's a natural fit that makes financial, legal and business planning a snap for clients. One call gets the whole bundled package.
"My clients don't have to bring in two or three different professionals with the hassle of coordinating schedules.

Instead, they bring one person who is highly qualified and highly experienced to meet with them and help deal with their nest egg — something they've worked their whole lifetime to achieve," Bill Hesch says.

The other great advantage of the dual connection between CPA and legal firm is the large pool of supplemental resources. Bill can call upon other professionals or law firms as needed, depending on what is best for each particular client.

"I've got working relationships with other major law firms. I bring in experts from labor law, environmental law, or patent law as needed," Bill explains. "Without being tied down to one law firm, I have access to all of them, giving my clients greater flexibility."

WILLIAM E. HESCH CPAs, LLC
3047 Madison Road, Oakley Square (near the 20th Century Theatre)
Cincinnati, Ohio 45209
(513) 731-6612
bill.hesch@williamhesch.com
www.williamhesch.com