Navigating the New Section 2704 Discount Valuation and Transfer Regulations: What Estate Planners Must Do Now
Recording of a 90-minute CLE/CPE webinar with Q&A
This CLE/CPE course will provide estate planners and counsel with a critical first look at the newly proposed regulations under Section 2704. The panel will detail the contents of the new regulations, describe the likely impact of the change in valuation discount techniques, and offer practical guidance on what planners must do now in the context of making transfers of family-controlled or generated assets.
- Contents of proposed 2704 regulations
- Asset structures that will be affected by valuation rule changes
- Structuring new transfers in the interim
- Evaluating existing structures for holding family assets
- Impact on tax apportionment clauses, estate equalization clauses
- Impact on buy-sell agreements and why they should be revisited for family controlled businesses
The panel will discuss these and other important issues pertaining to the newly-proposed Section 2704 regulations:
- What types of asset transfers are subject to the new regulations?
- How will the proposed change in the treatment of lapses of voting or liquidation rights impact future transfers of family-owned assets into family limited partnerships or trust vehicles?
- What is the impact of the changes to valuation discounts on transfer of closely-held businesses into estate planning vehicles?
- What must estate planning attorneys and advisers do with existing transfers and operating documents to minimize the tax impact to clients of the new regulations?
Susan Peckett Witkin
Ms. Witkin concentrates her practice in the areas of trusts and estates and tax law. She advises clients in a wide... | Read More
Ms. Witkin concentrates her practice in the areas of trusts and estates and tax law. She advises clients in a wide range of trust and estate matters, including estate planning, estate and trust administration and litigation. She also provides tax and related advice to individuals and privately held companies in areas such as intergenerational transfer tax planning, business succession, insurance, entity formation and management, charitable giving arrangements, private foundations, estate and tax planning for foreign individuals and trusts, tax controversies and FBAR and FATCA compliance, distribution planning for IRAs and qualified plans, income tax planning with trusts, trust companies, and fiduciary duties.Close
James G. Blase, CPA, JD, LLM
Blase & Associates
Mr. Blase is the principal of the law firm Blase & Associates, LLC, in St. Louis, Missouri. He is also an adjunct... | Read More
Mr. Blase is the principal of the law firm Blase & Associates, LLC, in St. Louis, Missouri. He is also an adjunct professor at the St. Louis University School of Law, where he currently teaches a course in wills, trusts and estates, and an adjunct professor at the Villanova University Charles Widger School of Law, where he currently teaches a graduate course in income taxation of trusts and estates. Mr. Blase has published over 50 articles on estate and tax planning with various peer review journals, and is the author of the book Optimum Estate Planning.Close
Edwin P. Morrow, III, Esq.
Director, Wealth Transfer Planning and Tax Strategies
Key Private Bank Family Wealth Advisory Services
Mr. Morrow advises high net worth private banking clients on tax, trust and estate planning matters. He previously... | Read More
Mr. Morrow advises high net worth private banking clients on tax, trust and estate planning matters. He previously maintained a private law practice in Cincinnati and Springboro, Ohio, working in taxation, probate, estate and business planning. He is a certified specialist in estate planning, probate and trust law through the Ohio State Bar Association. Mr. Morrow frequently contributes his expertise to lectures and publications analyzing estate planning issues.Close