Estate Planning for the Family-Owned Business
Effective Strategies for Business Transfer Through Inheritance, Gift or Sale
Recording of a 90-minute CLE webinar/teleconference with Q&A
Conducted on Tuesday, June 28, 2011
Recorded event now available
This CLE webinar will prepare trust and estate attorneys to develop business succession strategies for family owned businesses. The panel will outline best practices for ownership transfer through inheritance, gift, sale or charitable gift.
Description
Ninety percent of all U.S. businesses are owned by individuals who want to keep the business in the family. However, a low percentage of these businesses successfully transition to the next generation, primarily due to a lack of advance planning for management and ownership succession.
When a business is a family’s major asset, key considerations include maintaining liquidity, minimizing income, gift and estate tax, reviewing buy-sell agreements, valuing the business and insurance coverage, and identifying a source to buy out business interests, if needed.
The new estate tax law and the low gift tax levels currently in effect offer family business owners unique opportunities to pass their business to the next generation by inheritance or gift. As alternatives, selling the family business or charitable gifting may be part of the succession plan.
Listen as our authoritative panel of estate planning attorneys examines the various considerations for family business succession planning and discusses best practices to accomplish the owner’s personal and business goals. The panel will also highlight key issues in estate and gift tax law that impact business succession planning.
Outline
- Methods to transfer interest
- Inheritance
- Gift
- Sale
- Charitable Donation
- Succession planning for different business structures
- Active/Non-active family members in business succession
- Importance of business valuations
- Buy-Sell agreement
- Income and gift tax considerations
- Funding Sources
Benefits
The panel will review these and other key questions:
- What are the most common and effective methods of business interests transfer for the family-owned business?
- What are the major tax issues involved in estate plans that include a family-owned business?
- What issues should be addressed in considering the buy-sell agreement, the business valuation and the source for funding a possible sale of the business?
Faculty
Scott Nelson,
Lommen Abdo Cole King & Stageberg, Minneapolis
He is chair of the firm's estate planning practice group, and assists individuals and closely-held businesses with tax, business and all aspects of estate planning. He counsels business owners on business succession and coordinated estate planning, and advises families on transfer of assets during lifetime or upon death. He frequently speaks on estate and tax planning issues.
Brian Annino,
Partner
Annino & Ligon, Marietta, Ga.
He practices in the areas of business and commercial law, estate planning and probate, and tax law. He represents clients in forming new business entities and joint ventures, drafting and analyzing wills and trusts, and strategizing, negotiating, and implementing mergers and acquisitions and tax-deferred exchanges. He is active in the ABA and published articles in ABA Journal and Law Trends.
Scott R. Zucker,
The Zucker Law Firm, Annandale, Va.
His practice is dedicated to estate planning and complex trusts. He also maintains a financial planning practice with an aim to provide clients with a full range of comprehensive planning strategies. His practice encompasses Virginia, Maryland and Pennsylvania. He is a frequent author on estate planning issues.
Martin S. Varon,
Principal
Alternative Resolution Methods, Atlanta
He is a CPA, CVA, CEBS, Certified in Financial Forensics, accredited in Business Valuations by NACVA, and is a Certified Financial Neutral in Collaborative Law. As a Principal of Alternative Resolution Methods, he is a consultant and expert witness in financial valuations and forensic and investigative accounting. He published numerous articles and is a frequent speaker at bar conferences.
Ordering
Online CLE - Audio Recording
Includes audio streaming of full program plus handouts (available 24 hours after live seminar).
CLE:
Pre-approved for participatory or non-traditional/alternate format credit in: CA, HI*, NY*, WV*.
Pre-approved for self-study credit in: AK, AZ, FL, GA, MO, MT, TX*, VT, WA.
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(*Indicates that Strafford must report attendance.)
Online CLE Audio $127.00
Available 24 hours after the live event
Recorded Event
Includes full event recording plus handouts (available after live seminar).
CLE: Pre-approved for self-study credit in: AK, AZ, CA, CT, FL, GA, HI, MO, MT, NY, TX*, VT, WA, WV. Upon request, self-study credit is also available in: CO, ID, KY, ME, ND, NE, NH, NM, NV, OR, UT, WI, WY. If you are applying for self-study credit in one of these states, contact Strafford CLE at 1-800-926-7926 ext. 35 or CLE@straffordpub.com. (*Indicates that Strafford needs to process the CLE — see below to purchase this option.)
Webinar Download (Slide Presentation with Audio) $127.00
Available three business days after the live event
DVD (Slide Presentation with Audio) $127.00
plus $9.45 S&H
Available ten business days after the live event
MP3 Download (Audio with Slide PDFs) $127.00
Available 24 hours after the live event
CD (Audio with Slide PDFs) $127.00
plus $9.45 S&H
Available ten business days after the live event
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CLE Credit
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Customer Reviews
The seminar was very informative and easy to understand.
Amy Allison
Anderson Hunter Law Firm
The program was well organized and discussed the major issues.
Roxy Hammett
Wolff & Samson PC
The webinar offered excellent insight into some specific areas.
Beth Ann R. Lawson
Virginia Beach Law Group
The speakers were excellent and made it easy to understand the complex subjects.
Michael Robinson
Winston & Strawn LLP
The presentations provided great insight.
Josh WInslow
Pabian & Russell
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