Mia Greenless-Smith (Overthorpe Sports) v Elliott Heap (Broad Oak), Josh Thomas (Glasshoughton Welfare) v Aaron Brine (Rothwell BC), Lewis Cooper (Castleford Town) v Alex Edmondson (Pudsey BC), Oscar Scott-Parker (Morton House) v Charlie Evans (Marsh Lib), Kyle Hainsworth (Holbeck Ltd) v Ben Falkingham (Littlemoor SSC), Leah Weatherill (Morton House) v Joshua Gough (Marsh Lib), Same Farmer (Sandal) v Scott Shaw (Almondbury Lib), Lewie Tommes
(Methley) v James Hick (Almondbury Lib).
The Kornmehls were inspired to become cheese makers by Shay Seltzer, who changed careers after the Yom Kippur War in 1973: Previously a botanist at Hebrew University, he moved to the Judean Hills outside Jerusalem, where he now raises goats in a meadow, making Tommes
De Pyrenees, gorgonzola, and other cheeses with the milk.
505(b)(7) limits when the plan is a VEBA, but non-VEBA TOMMEs (plans operating with taxable trusts) are not required to limit compensation or to comply with ERISA's nondiscrimination rules unless their purpose is to provide a benefit to participants beyond retirement.
The court, in the Prime Financial Trust Cases, found that the adopting employers were not participants in TOMMEs.
TOMMEs can be an effective planning tool for practitioners who do their due diligence and assist their clients in choosing the right program.
The benefits to be derived from a TOMME are available through the adoption of the plan by any business entity (whether a proprietorship, partnership, limited liability company or corporation).
For advisers intending to satisfy an estate liquidity need or a business succession plan, or to protect personal asset accumulations for the next generation, the focus should be on a TOMME that complies with the requirements of Secs.
In the years since 1986, cautious professionals have viewed the TOMME as a cutting-edge planning tool with many gray area issues that could leave clients with significant tax exposure.
The court concluded that the Prime Financial Plan did not qualify as a TOMME.