COURSE DESCRIPTION
There are tax and other benefits to holding a closely-held company or other business interests in a trust. But there are also substantial risks. Trusts are typically required to diversify their holdings. But when a company is held in a trust there is almost a highly concentrated, and thus risky, position. 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:
Michael Sneeringer a partner 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.
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.