Make the Best Use of Business Structures in Estate Planning
LLCs and other business entities can be an invaluable tool for transferring wealth to heirs and assuring your clients' legacy lives on. This focused legal guide will give you all the tools you'll need to select the right vehicle, maximize tax savings and ensure smooth succession. Register today!
- Choose the most fitting business structure for each client's unique situation.
- Map out the plan for the gradual or outright transfer of interest with airtight buy-sell agreements, options and other arrangements.
- Prevent and resolve family conflict in succession planning.
- Get hard-won tax planning and reporting tips from experienced faculty.
- Protect your professional reputation with a practical legal ethics guide.
All times are shown in Eastern
- Initial Client Considerations
11:00 - 12:00,
Daniel J. Young
- Encouraging Business Owners to Plan for Succession
- Helping the Grantor Clarify His/Her Goals
- Accounting for Family Dynamics
- Key Documents to Assess the Client's Current Financial Situation
- Which Business Entity Makes the Best Estate Planning Vehicle? Tax and Non-Tax Considerations
12:15 - 1:15, Thomas R. Schumacher
- FLLPs, FLLCs, C and S Corporations, LLC as an S Corporation
- Series LLCs for Gradual Transfer of Duties and Powers
- Single-Member LLCs After Olmstead
- Articles of Organization and Other Formalities
- Converting an Existing Business Structure into Another
- Key Valuation Methods, Challenges and Mistakes
1:15 - 2:00, Daniel J. Young
- Mapping Out the Transfer of Interest
2:30 - 3:30, Daniel J. Young
- Buy-Sell Agreements, Options and Similar Arrangements
- Drafting Buy-Sell Agreements for Existing/Operating Businesses
- Planning for a Full or Partial Sale of a Business
- Planning and Executing a Gradual Transfer
- Solving the Problem of Liquidity
- Special Considerations for Sole Proprietors
- Using Life Insurance to Fund Buyout and Disability
- When Leveraged Recapitalization is a Wise Decision
- Business Succession Planning Amid Family Conflict
3:30 - 4:00, Thomas R. Schumacher
- Tax Planning and Reporting
4:15 - 5:00, Thomas R. Schumacher
- Income Tax and Capital Gains Planning
- Preventing Challenges by IRS with Regard to Valuation Discounts and Disclaimers
- Specific Strategies for Different Tax Entity Structures
- Estate/Gift Tax Considerations and Portability
- Legal Ethics
5:00 - 6:00, Daniel J. Young
- Who is Your Client? Preventing Conflicts of Interest
- Protecting Confidentiality
- Attorney Fees and Engagement Agreements
- Attorney Fiduciary Responsibility
This legal course is designed for attorneys. It will also benefit accountants, estate and financial planners, and paralegals.