Trust and Estate Planning for Family Businesses, Part 2

course

COURSE INFO

  • Available Until 12/23/2021
  • Next Class Time 11:00 AM MT
  • Duration 60 min.
  • Format MP3 Download
  • Program Code 06262020
  • MCLE Credits 1 + hours


Course Price: $89.00

COURSE DESCRIPTION

Most successful businesses are owned by one or more families.  Because they are family owned, these companies create many special planning challenges.  Ownership and control do not shift among non-owner managers or anonymous shareholders. Rather, succession in ownership and management is a momentous and often highly emotional process for members of the family.  Frequently, these transitions are caused by the retirement or death of members of a family member.  And these transitions, if not carefully planned and delicately handled, can be ruinous, damaging the family and their company.  This program will provide you a practical framework of trust and estate planning and succession planning for family businesses. 

Day 1:

  • Framework of trust and estate planning tools and techniques for family businesses
  • Valuation issues for financial and tax purposes
  • Buy-sell planning with family members or key employees
  • Selling to third parties where intra-family succession is not possible
  • Planning for the incapacity of the founding generation
  • Role of outside managers to overcome family drama related to control

 

Day 2:

  • Counseling clients on how to avoid family drama on succession
  • Life insurance trust planning – or as a compensating asset to certain heirs
  • Structuring private annuities to transfer a business and provide income to founders
  • Self-cancelling installments notes and intentionally defective irrevocable trusts
  • Use of GRATS and “redemptive freezes”

 

Speakers: