LexisNexis®
University

Estate Planning for the Family Business Owner 2023: Part Five (5/8)

Content Provider
American Law Institute CLE
Product
CLE
Run Time
60 Minutes
Recording Date
10/06/2023
Presenter(s)
Todd Angkatavanich, Kevin Matz
Learning Method
On-Demand Training
Practice Area
Estate Planning and Elder Law, Taxation, Corporate and Business Law, Family Law
Persona
CLE OnDemand

Price $219.00

Add To CartCheckout

Description

Ensuring a business legacy can be a complicated undertaking. Family owners often focus on operational matters while ignoring succession planning. At other times, succession planning may be mired in family strife to the detriment of operational success. In fact, inadequate business and succession planning is one of the leading causes of family business failures.
Taxes add yet another level of complexity for family businesses. Compensating owners for services, rent of owners' property, and various other arrangements can trip up business owners. Business succession plans can affect estate tax values. Deferred or uncertain estate tax liability can cause a family business to lose its line of credit, accelerate a long-term loan, or negatively affect a surety bond.
This highly rated program addresses these issues and offers practical tips for counseling clients on business succession and tax challenges. Attended by sophisticated legal practitioners and industry professionals nationwide, this annual program is a go-to resource for family businesses seeking prosperity beyond current owners or business-savvy exit solutions.
Topic includes:
- FLPs and FLLCs: Soup to Nuts and the Current State
This program will provide a review of the evolution of FLPs going back decades and the historical challenges to FLPs, the evolution of Sections 2036 challenges, the importance of the bona fide sale exception, "decontrol" considerations, and best practices for "stress testing" existing FLPs and potential fortification measures.

Literature

State Status Total Credits Type Of Credit Approved Thru
AlabamaApproved1.00General12/31/2024
AlaskaApproved1.00GeneralOn-going
ArizonaApproved1.00GeneralOn-going
ArkansasApproved1.00GeneralOn-going
CaliforniaApproved1.00Participatory10/06/2028
ColoradoApproved1.00General12/31/2025
ConnecticutApproved1.00GeneralOn-going
DelawareApproved1.00General10/05/2025
FloridaApproved1.00General06/30/2025
GeorgiaApproved1.00General12/31/2024
HawaiiApproved1.00General10/06/2025
IdahoApproved1.00General10/06/2028
IllinoisApproved1.00General11/29/2025
IndianaApproved1.00General12/20/2024
KansasApproved1.00General12/24/2024
LouisianaApproved1.00General11/26/2024
MaineApproved1.00General01/18/2026
MinnesotaApproved1.00General11/29/2025
MississippiApproved1.00General11/26/2024
MissouriApproved1.20GeneralOn-going
MontanaApproved1.00General10/06/2026
NebraskaApproved1.00General10/05/2025
NevadaApproved1.00General12/31/2026
New HampshireApproved1.00General10/05/2026
New JerseyApproved1.00GeneralOn-going
New MexicoApproved1.00General10/05/2028
New YorkApproved1.00SkillsOn-going
North CarolinaApproved1.00General12/31/2024
North DakotaApproved1.00General10/06/2026
OhioApproved1.00General12/31/2024
OklahomaApproved1.00General12/17/2024
OregonApproved1.00General10/05/2026
PennsylvaniaApproved1.00General11/07/2025
Puerto RicoApproved1.25General12/31/2024
Rhode IslandApproved1.00General06/30/2025
South CarolinaPending State Response0.00
TennesseeApproved1.00General11/26/2024
TexasApproved1.00General11/30/2024
UtahApproved1.00General12/31/2024
VermontApproved1.00GeneralOn-going
WashingtonApproved1.00General10/05/2028
West VirginiaApproved1.20GeneralOn-going
WisconsinApproved1.00GeneralOn-going
WyomingApproved1.00General11/26/2024

Speakers