Estate Planning Using LLCs and Limited Partnerships

Achieving Estate Tax Savings Through Valuation Discounts, Protecting Against Creditor Claims

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


Conducted on Thursday, October 11, 2012

Recorded event now available

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Program Materials

This CLE webinar will provide estate planning counsel with a review of creditor protection and estate tax savings through valuation discounts. The panel will emphasize using charging orders to protect the assets in the business entity and discuss ways to achieve the largest valuation discount available under the law.

Description

LLCs and limited partnerships (LPs) have become the favored tool of most estate planning attorneys for both corporate and estate planning purposes. In both estate planning and asset protection planning, counsel must understand how to use LLCs and LPs for both creditor protection and estate tax savings.

LLCs and LPs offer asset protection from creditors through the charging order, protecting assets in the business entity. As a wealth transfer strategy, LLCs and LPs enable clients to reduce estate taxes through valuation discounts.

Listen as our panel of estate planning attorneys discusses strategies for utilizing LLCs and LPs as vehicles for asset protection and minimizing estate tax through valuation discounts. The panel will emphasize the use of charging orders to protect the assets in the business entity, including a discussion of single member LLCs and the Olmstead case. The panel will also present the valuation discount analysis by providing examples.

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Outline

  1. Asset protection
    1. Internal vs. external liabilities
    2. Charging orders
    3. Equitable remedies
    4. Single member LLC
    5. Olmstead case
    6. Planning opportunities
  2. Valuation discounts
    1. Examples
    2. How IRC Sect. 2704(b) works
    3. Restricted LLC/LP to maximize discounts

Benefits

The panel will review these and other key questions:

  • What is a charging order and how does it work?
  • What types of equitable remedies might the judge issue?
  • How do you structure a gifting transaction with valuation discounts?
  • How do you increase the appropriate valuation discount that should apply?

Following the speaker presentations, you'll have an opportunity to get answers to your specific questions during the interactive Q&A.

Faculty

Steven J. Oshins
Steven J. Oshins

Oshins & Associates

Mr. Oshins' practice focuses on estate planning and asset protection. He was named Las Vegas Trusts and Estates...  |  Read More

Kristen E. Simmons
Kristen E. Simmons

Atty
Oshins & Associates

She practices in the areas of estate, business and asset protection planning. She served on the legislative committee...  |  Read More

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