Holding Business Interests in Trusts

course

COURSE INFO

  • Presentation Date 6/19/2020
  • Next Class Time 11:00 AM MT
  • Duration 60 min.
  • Format Audio Webcast
  • Program Code 06192020
  • MCLE Credits 1 + hours


Course Price: $89.00

COURSE DESCRIPTION

There are tax and other benefits to holding a closely-held company or other business interests in trusts, but there are also substantial risks and planning complexity. Holding an operating business creates tension between the duty of a trust to diversity and the inescapable concentrated position of owning an operating company, which in turn creates tension between trustees and business managers.  Similarly, holding real estate or nontraditional assets also involves issues of liquidity and proper fiduciary and income tax administration. This program will provide you with a real world guide placing business interests in a trust.

  • Dilemmas of operating companies in trusts – concentrated assets, speed, decision-making
  • Concentrated assets and the fiduciary duty to diversify
  • Counseling clients about the right trust for different asset classes
  • Preserving S Corp status or other tax benefits in trust
  • Business succession planning for family businesses
  • Managing minority stakes in operating companies or assets
  • Financial and tax administration traps

 

Speakers:

Missia H. Vaselaney is a partner in the Cleveland office of Taft, Stettinius & Hollister, LLP, where her practice focuses on estate planning for individuals and businesses.  She also represents clients before federal and state taxing authorities.  Ms. Vaselaney is a member of the American Institute of Certified Public Accountants and has been a member of the Steering Committee for AICPA’s National Advanced Estate Planning Conference since 2001.  Ms. Vaselaney received her B.A. from the University of Dayton and her J.D. from the Cleveland-Marshall College of Law.

Michael Sneeringer an attorney in the Naples, Florida office of Porter Wright Morris & Arthur LLP, where his practice focuses on trust and estate planning, probate administration, asset protection planning, and tax law. He has served as vice chair of the asset protection planning committee of the ABA’s Real Property, Trust and Estate Section and is an official reporter of the Heckerling Institute.  Mr. Sneeringer received his B.A. from Washington & Jefferson College, his J.D., cum laude, St. Thomas University School of Law, and his LL.M. from the University of Miami School of Law.




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