Mackall, Crounse & Moore, PLC has joined Dewitt Ross & Stevens S.C.

The newly formed DeWitt Mackall Crounse & Moore S.C. will provide clients with enhanced legal services
and efficiencies as well as access to more than 100 attorneys practicing in nearly 30 areas of
law in Wisconsin and Minnesota.

Dismiss this message

×

View Full Biography:

Smith
Download VCard

Wrede H. Smith

location:
Madison
email:
whs@dewittross.com
phone:
608-395-6782
fax:
608-252-9243
assistant:
Debbie A. Miller

Email Full Biography

Message Details:
  • To:

  • From:

  • PDF of the biography will be included.
  •  
  • Cancel

Wrede “Bud” Smith is an owner of a family business, American Pop Corn Company, which was founded in 1914 and is now run by the fourth and fifth generations of the Smith family. He brings a unique perspective to the task of advising the owners of closely-held and family-owned businesses. Whether you have concerns about succession planning, employment of children, compensating non-family executives, or deciding when and how to sell the business, Bud has the experience and judgment necessary to help your business and your family analyze their options and achieve their goals.

More than 20 years ago he helped to create the Family Business Center at the University of Wisconsin Madison, which today offers educational forums and networking opportunities to more than 60 member companies. DeWitt Ross & Stevens has continued to sponsor the Family Business Center since its inception, and Bud has taken a leadership role at the Center as a board member, lecturer, financial contributor and active participant. He also has taught classes on family business at the U.W. Madison School of Business.

Bud also represents individuals who seek to develop or update their wills and trusts. Often, Bud recommends and implements sophisticated planning techniques designed to preserve the client’s wealth or pass a family farm, business or vacation home to the next generation. He also helps clients achieve their philanthropic goals with entities such as family foundations and charitable remainder trusts. For 25 years, he chaired the firm’s Estates & Trusts Practice Group and has served as a director and former President of the Madison Estate Council.

Additionally, Bud represents a number of other closely-held companies. These companies include not only corporations and limited liability companies, but cooperatives such as Accelerated Genetics of Baraboo. He particularly enjoys helping his business clients expand, merge with other businesses or acquire new businesses. Each expansion, merger or acquisition involves a unique set of challenges, including financing, employee restrictive covenants, taxation, and ownership structure. Bud is responsive and creative in helping his clients meet and overcome those challenges.

Bud has also been named a Wisconsin "Super Lawyer" by his peers.

Clients

Bud represents individuals seeking estate planning advice and closely held businesses of all kinds, including many family owned businesses. A small sample of the family owned businesses that Bud represents includes Diesel Forward, Inc., The Bruce Company, Smart Motors, Inc. and Mid-State Equipment, Inc.

Notable Representations

  • With Bud’s help, the owners of a rapidly-growing S corporation have created a series of Grantor Retained Annuity Trusts (GRATs) as a way to transfer some of their S corporation stock to their children without incurring estate tax or gift tax.
  • Through the use of limited liability companies, self-cancelling notes (SCINs) and valuation discounts, Bud was able to assist the founders of a family business in transferring the bulk of their wealth to the second and third generations.
  • When the owners of a Madison manufacturing firm discovered that their president was attempting to gain control of the ownership of the business in a devious manner, they turned to Bud to assist them in terminating the president, identifying and hiring an interim CEO, and eventually designing and drafting a compensation package for a new CEO. The company experienced significant growth in sales and earnings during the leadership transition.

Articles & Presentations 

  • Estate Planning for Edward Jones Financial Advisors (June 2016) 
  • When Bad Things Happen to ​Good People: How Business Owners Doomed Their Life’s Work and How You Can Avoid Their Mistakes, UW Family Business Center (2014-2016)
  • Succession Planning: Legal and Risk Management Considerations, UW Family Business Center (2014)
  • Taking Advantage of Recent Tax Law Changes; First Business Bank (2013)
  • Estate Planning for Financial Planners; UW Madison-Consumer Science 501 (2013)
  • Physician Retirement Planning; UW Health (2012)
  • Family Business Issues; UW Madison School of Business (2004-2011)
  • Tax Relief Act of 2010; Estate, Gift and GST Tax Provisions; UW Family Business Center (2011)
  • Charitable Giving: How Helping the Oakwood Foundation Can Help You and Your Family; Oakwood Foundation (2011)
  • Estate Taxes and the Family Business:  How to Plan for Succession When the Rules Keep Changing; UW Family Business Center (2010)
  • Selected Estate and Trust Issues for Commercial Lenders; First Business Bank (2010)
  • Planning Gifts to Charities; Oakwood Foundation (2010)

Our Locations

Madison

Two East Mifflin Street, Suite 600
Madison, WI 53703
(608) 255-8891
Get Directions

Greater Milwaukee

13935 Bishop's Drive, Suite 300
Brookfield, WI 53005
(262) 754-2840
Get Directions

Minneapolis

1400 AT&T Tower,
901 Marquette Avenue
Minneapolis, MN 55402
(612)305-1400
Get Directions


Get to know us

DeWitt Ross & Stevens S.C., including its affiliate DeWitt Mackall Crounse & Moore S.C., is one of the ten largest law firms based in Wisconsin, with an additional presence in Minnesota. It has more than 120 attorneys practicing in Madison, Metropolitan Milwaukee and Minneapolis in over 30 legal practice areas, and has the experience to service clients of all scopes and sizes.

Our People
Our Law Firm
Leadership
Areas of Expertise
News & Education
Contact Us

Partners

We are an active and proud member of Lexwork International, an association of midsized independent law firms in major cities located throughout the Americas, Europe and Asia.

Awards

Best Lawyers 2013 - 2016
Compass Award 2012
Top 100 Lawyers: National Trial Lawyers Association

  • blf-badge-2016

NOTICE

While we would like to hear from you, we cannot represent you until we know that doing so will not create a conflict of interest. Accordingly, please do not send us any information about any matter that may involve you until you receive a written statement from us that we represent you (an “engagement letter”). You will not be a client of the firm until you receive such an engagement letter.

The best way for you to initiate a possible representation is to call DeWitt Ross & Stevens at 608-255-8891. We will make every effort to put you in touch with a lawyer suited to handle your matter. When you receive an engagement letter from one of our lawyers, you will be our client and we may exchange information freely.

Please click the “OK” button if you understand and accept the foregoing statement and wish to proceed.