BarbriSFCourseDetails
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Course Details

Course Information
  • smart_display Format

    On-Demand

  • signal_cellular_alt Difficulty Level

    Intermediate

  • work Practice Area

    Estate Planning

Date & Time
  • event Date

    Tuesday, May 14, 2024

  • schedule Time

    1:00 p.m. ET./10:00 a.m. PT

  • timer Program Length

    90 minutes

Credit Information

  • This 90-minute webinar is eligible in most states for 1.5 CLE credits.

  • BARBRI is a NASBA CPE sponsor and this 110-minute webinar is accredited for 2.0 CPE credits.

  • BARBRI is an IRS-approved continuing education provider offering certified courses for Enrolled Agents (EA) and Tax Return Preparers (RTRP).

$297.00
CLE
CPE
ALL

This CLE/CPE course will provide trusts and estates attorneys with an in-depth analysis of advanced income and estate tax planning strategies for owners of closely held businesses under current tax law. The panel will discuss techniques utilizing GRATs, sales to grantor trusts, and buy-sell agreements, as well as ways to avoid tax issues in business succession planning and other vital items.

Faculty

Cliff Capdevielle
Director, Trusts and Estates Tax Services
MOBO Law

Mr. Capdevielle helps clients navigate the complex opportunities related to tax planning, business succession planning, and estate planning, and seeks to maximize tax savings and reach their goals.

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Jonathan E. Gopman
Partner
Nelson Mullins Riley & Scarborough LLP

Mr. Gopman's practice focuses on sophisticated wealth accumulation and preservation planning strategies for entrepreneurs. He assists entrepreneurs with their personal and business planning needs at all phases of the wealth accumulation and preservation cycle. He has substantial experience in assisting high net worth families with international and domestic estate planning, implementing foreign trust structures, business planning and general tax planning.

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Description

Estate planning for owners of closely held businesses requires sophisticated expertise to avoid unintended consequences. Trusts and estates counsel must consider various tax and non-tax issues and implement strategies to transfer assets effectively to successor generations.

The death of a closely held business owner can have significant estate and gift tax consequences, which can be mitigated with lifetime and post-mortem estate planning techniques primarily for owners of interests in closely held businesses. This requires estate planners to consider various buy-sell agreements, gift and estate tax rules, GRATs and other trusts, and special considerations when using LLCs and FLPs.

Also, estate planners must manage challenges from the valuation of business interests and assets to the use of recapitalization and rules applicable to S corporations.

Listen as our panel discusses advanced income and estate tax planning strategies for owners of closely held businesses under current tax law. The panel will also offer techniques for utilizing GRATs, sales to grantor trusts, buy-sell agreements, and ways to avoid tax issues in business succession planning.

Outline

  1. Key considerations under current tax law
  2. Buy-sell agreements
  3. Transfers of business interests
  4. Trusts
  5. FLPs and LLCs

Benefits

The panel will review these and other key issues:

  • What are the challenges and available planning techniques for owners of closely held businesses under current tax law?
  • What are the benefits and critical considerations for drafting buy-sell agreements?
  • What planning techniques are available for lifetime transfers of business interests?
  • What are the considerations, available methods, and obstacles when utilizing trusts?
  • What are the advantages and key issues of using FLPs and LLCs in estate planning?

NASBA Details

Learning Objectives

After completing this course, you will be able to:

  • Identify challenges and available planning techniques under current tax law for owners of closely held businesses
  • Ascertain benefits and key considerations for drafting buy-sell agreements
  • Recognize planning techniques that are available for lifetime transfers of business interests
  • Understand key concerns, available methods, and obstacles when utilizing trusts
  • Understand the advantages and critical issues of using FLPs and LLCs in estate planning

  • Field of Study: Taxes
  • Level of Knowledge: Intermediate
  • Advance Preparation: None
  • Teaching Method: Seminar/Lecture
  • Delivery Method: Group-Internet (via computer)
  • Attendance Monitoring Method: Attendance is monitored electronically via a participant's PIN and through a series of attendance verification prompts displayed throughout the program
  • Prerequisite: Three years+ business, legal or public firm experience at mid-level within the organization, involved in sophisticated tax planning and reporting; supervisory authority over other attorneys/preparers/accountants. Knowledge and understanding of partnership and other pass-through entities, familiarity with tax planning for business succession planning.

Strafford Publications, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of Accountancy have final authority on the acceptance of individual courses for CPE Credits. Complaints regarding registered sponsons may be submitted to NASBA through its website: www.nasbaregistry.org.

IRS Approved Provider

Strafford is an IRS-approved continuing education provider offering certified courses for Enrolled Agents (EA) and Tax Return Preparers (RTRP).