LexisNexis®
University

Estate Planning for the Family Business Owner 2023: Part Seven (7/8)

Content Provider
American Law Institute CLE
Product
CLE
Run Time
60 Minutes
Recording Date
10/06/2023
Presenter(s)
Michael Bourland, Mary Radford
Learning Method
On-Demand Training
Practice Area
Estate Planning and Elder Law, Taxation, Corporate and Business Law, Family Law, Ethics

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:
- Ethical Dilemmas Involving Clients with Diminished Capacity: Bad Business Decisions, Eccentricities, or Something More?
> What is the difference between declining and diminishing capacity, and how to recognize, respond, and insure proper management of a family business?
> How to be practical and advise family business owners in preparation for their own diminished capacity
> Can an attorney prepare and supervise the execution of estate and business planning documents when he suspects his client lacks capacity? How does the attorney organize his concerns into a defendable judgement?
> What information may a lawyer disclose to nuclear and/or business family members when the lawyer believes that a key family business client suffers diminished capacity and is in danger of financial harm to himself/herself or the family business?

Literature

State Status Total Credits Type Of Credit Approved Thru
AlabamaApproved1.00Ethics12/31/2024
AlaskaApproved1.00EthicsOn-going
ArizonaApproved1.00EthicsOn-going
ArkansasApproved1.00EthicsOn-going
CaliforniaApproved1.00Ethics10/06/2028
ColoradoApproved1.00Ethics12/31/2025
ConnecticutApproved1.00EthicsOn-going
DelawareApproved1.00Ethics10/05/2025
FloridaApproved1.00Ethics06/30/2025
GeorgiaApproved1.00Ethics12/31/2024
HawaiiApproved1.00Ethics10/06/2025
IdahoApproved1.00Ethics10/06/2028
IllinoisApproved1.00Ethics11/29/2025
IndianaApproved1.00Ethics12/20/2024
IowaApproved1.00Ethics10/05/2024
KansasApproved1.00Ethics12/24/2024
KentuckyApproved1.00Ethics06/30/2024
LouisianaApproved1.00Ethics11/26/2024
MainePending State Response0.00
MinnesotaApproved1.00Ethics11/29/2025
MississippiApproved1.00Ethics11/26/2024
MissouriApproved1.20GeneralOn-going
MontanaApproved1.00Ethics10/06/2026
NebraskaApproved1.00Professional Responsibility10/05/2025
NevadaApproved1.00Ethics12/31/2026
New HampshireApproved1.00Ethics10/05/2026
New JerseyApproved1.00EthicsOn-going
New MexicoApproved1.00Ethics10/05/2028
New YorkApproved1.00EthicsOn-going
North CarolinaApproved1.00Ethics12/31/2024
North DakotaApproved1.00Ethics10/06/2026
OhioApproved1.00Professional Conduct12/31/2024
OklahomaApproved1.00Ethics12/17/2024
OregonApproved1.00Ethics10/05/2026
PennsylvaniaApproved1.00Ethics11/07/2025
Puerto RicoApproved1.00Ethics12/31/2024
Rhode IslandApproved1.00Ethics06/30/2024
South CarolinaPending State Response0.00
TennesseeApproved1.00Ethics11/26/2024
TexasApproved1.00Ethics11/30/2024
UtahApproved1.00Ethics12/31/2024
VermontApproved1.00EthicsOn-going
VirginiaApproved1.00Ethics10/31/2024
WashingtonApproved1.00Ethics10/05/2028
West VirginiaApproved1.20EthicsOn-going
WisconsinApproved1.00GeneralOn-going
WyomingApproved1.00Ethics11/26/2024