Estate Planning With Disregarded Entities: Single-Member LLCs and Qualified Subchapter S Corp Subsidiaries

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

Conducted on Wednesday, October 21, 2015

Recorded event now available

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Program Materials

This CLE webinar will provide estate planning counsel with an understanding of the advantages and disadvantages of disregarded entities in estate planning. The panel will outline tax savings and asset protection benefits, explain practical structuring techniques, and discuss tax treatment and potential pitfalls of disregarded entities in estate planning.

Description

Disregarded entities, i.e., single-member limited liability companies (SMLLCs) and qualified subchapter S corporation subsidiaries (QSubs), are popular tools for estate planning attorneys because they offer both income tax savings and asset protection, the goal of estate planning for most individuals post-ATRA.

An SMLLC is an LLC in which a single individual or other entity owns all of the LLC ownership interest and is a legal entity separate from its owner. A QSub is an S corporation owned by another S corporation. SMLLCs and QSubs are disregarded entities for federal income tax purposes, providing tax savings as well as a cash accessibility advantage, unless they elect to be treated as corporations.

SMLLCs also offer asset protection from creditors through the charging order, protecting assets in the business entity. Estate planning counsel must understand how to structure and utilize SMLLCs to achieve both creditor protection and tax savings.

Listen as our panel of estate planning attorneys discusses strategies for utilizing disregarded entities in estate planning. The panel will outline their tax savings and asset protection benefits, explain practical structuring techniques, and discuss tax treatment and potential pitfalls of disregarded entities in estate planning.

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Outline

  1. Overview of types and structure of disregarded entities
  2. Disregarded entities and asset protection
  3. Tax advantages of disregarded entities
  4. Review of regulatory and legal considerations

Benefits

The panel will review these and other key issues:

  • How can disregarded entities be best used as a wealth preservation tool?
  • What are best practices for using an SMLLC to transfer ownership of assets and decrease the actual value of an estate?
  • Under what circumstances are disregarded entities not disregarded for tax purposes?
  • How can disregarded entities be combined to achieve greater tax savings?

Faculty

James M. Duggan
James M. Duggan
Principal
Duggan Bertsch

Mr. Duggan's practice has concentrated principally on business and corporate law, and estate and wealth planning,...  |  Read More

Simmons, Kristen
Kristen E. Simmons
Member
Oshins & Associates

Ms. Simmons is a member of the law offices of Oshins & Associates, LLC in Las Vegas, Nevada. She practices in...  |  Read More

Vincent M. D’Addona
Vincent M. D’Addona
Senior Associate
Strategies for Wealth

Mr. D’Addona has more than 25 years of experience in providing financial services, estate planning, retirement...  |  Read More

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