Advanced Income and Estate Tax Planning Techniques for Owners of Closely Held Businesses

Note: CPE credit is not offered on this program

Recording of a 90-minute CLE video webinar with Q&A


Conducted on Thursday, June 10, 2021

Recorded event now available

or call 1-800-926-7926
Course Materials

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

Description

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

The death of an owner of a closely held business 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 kinds of buy-sell agreements, gift and estate tax rules, use of GRATs and other trusts, and special considerations when using LLCs and FLPs.

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

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

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Outline

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

Benefits

The panel will review these and other key issues:

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

Faculty

Capdevielle, Cliff
Cliff Capdevielle

Managing Attorney
Moskowitz

Mr. Capdevielle has been developing sophisticated tax planning strategies and resolving tax disputes for clients more...  |  Read More

Cohn, Beth
Beth S. Cohn

Shareholder
Jaburg Wilk

Ms. Cohn chairs the firm’s Estate Planning and Business Law Department. As both a Tax Specialist certified by the...  |  Read More

Weaver, Scott
Scott D. Weaver

General Counsel and Chief Fiduciary Officer
Willow Street Group

Mr. Weaver is a trust and estate attorney serving both domestic and international families and their advisors. Before...  |  Read More

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Strafford will process CLE credit for one person on each recording. All formats include course handouts.

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