Cannabis-Related Assets in Estate Planning: Critical Considerations for Trusts and Estates Counsel
Federal and State Law Challenges, Income and Estate Tax Issues, Special Powers of Trustee, Distribution of Assets, and More
Note: CPE credit is not offered on this program
Recording of a 90-minute CLE webinar with Q&A
This CLE course will provide estate planners guidance on crucial estate planning considerations and techniques for cannabis-related assets. The panel will discuss federal and state law challenges amid recent legalization/decriminalization of medical and recreational marijuana and hemp/CBD products. The group will also explain federal income and estate tax issues, rules regarding the distribution of assets and special powers of the trustee, and other matters when planning for clients with cannabis-related assets.
Outline
- Federal law challenges for cannabis-related assets
- Controlled Substances Act
- Hemp and CBD products
- IRC Section 280E
- State law challenges and regulatory updates
- Key estate planning issues
- Federal income and estate tax considerations
- Distribution of assets
- Special powers of a trustee
- Effective planning techniques
- Asset protection strategies
- Choice of entity and segregating assets
- Gifting and use of irrevocable trusts
- DAPTs
Benefits
The panel will review these and other key items:
- The status of cannabis and related activities under state and federal laws
- Federal and state law challenges of cannabis-related assets in an estate or trust
- Drafting and updating estate plans to encompass cannabis-related assets
- Developing a comprehensive succession plan and navigating the distribution of assets
- Selecting an independent trustee, special powers, and fiduciary liability
- Critical asset protection strategies for cannabis business owners and investors
Faculty
Andrew DeWeese
Shareholder
Green Light Law Group
Mr. DeWeese handles complex civil litigation in state and federal court, as well as employment and civil rights issues... | Read More
Mr. DeWeese handles complex civil litigation in state and federal court, as well as employment and civil rights issues and insurance coverage disputes. He has litigated in complex arbitration proceedings as well as other forms of alternative dispute resolution and represented clients before administrative bodies and other state and federal governmental entities. As the founder of the Oregon Cannabis Law Group, now part of Green Light Law Group, Mr. DeWeese is on the forefront of the novel legal issues concerning the emerging cannabis industry and represents and advises cannabis business clients on state law compliance and licensing issues.
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George S. Peek
Shareholder
Crivello Carlson
Mr. Peek counsels both for-profit and not-for-profit businesses to arrive at organization, succession and... | Read More
Mr. Peek counsels both for-profit and not-for-profit businesses to arrive at organization, succession and reorganization solutions, including general business related advice. His experience includes matters involving contracting, corporate governance and risk management and is premised on gaining an understanding of his clients’ financial and non-financial goals.
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