Family Wealth and Business Succession Planning (Currently Unavailable)

Author: Owen G. Fiore

The "Take Home Value" from this course will be practical suggestions and programs for use with clients, whether or not any particular estate will produce an estate tax. Wealth Preservation and Management Succession are key issues for coverage in the 100+ pages of course materials which will be used by Owen Fiore in his presentation. "Real-life" client situations will be presented to illustrate key points during the presentation, based on Owen's over 40 years of tax law practice while in California.

Publication Date: December 2013

Designed For
CPAs, CFPs, Enrolled Agents, Attorneys, CEOs and CFOs of family companies

Topics Covered

• Wealth preservation through trusts
• Asset protection and dynasty trusts
• Special techniques and entity uses for shifting wealth within the family.
• Valuation planning and development of discounts.
• Uses of split-interest trusts, such as GRATs and QPRTs as well as charitable trusts.
• Grantor Trust techniques that may well be the subject of adverse tax legislation in 2013.

Learning Objectives

• Understanding the planning and compliance mandates of current tax law, namely, the American Tax Relief Act of 2012, plus tax law changes that are proposed or have taken place by the date of course presentation.
• Learn how to deal with potential conflicts of interest within the family and to work with other advisors in communicating the family wealth and business succession plan.
• Avoid possible penalty imposition by IRS on taxpayers or advisors, through due diligence and full compliance with Revised Circular 230.
• Learn about the uses of valuation leverage in lifetime gifts, sales and "opportunity shifting" within the family.
• Evaluate specific techniques, including "split-interest trusts", grantor trusts with installment sales, asset protection and dynasty trusts, SCINs and private annuities, plus both Buy-Sell Agreements and Deferred Compensation Agreements.
• Determine the role of various pass-through entities, such as FLPs, LLCs and S corporations and how effectively to separate equity ownership and management control.

Level
Intermediate

Instructional Method
Self-Study

NASBA Field of Study
Taxes (4 hours)

Program Prerequisites
None

Advance Preparation
None