Estate and Business Succession Planning: Estate and Tax Considerations, Planning Vehicles, Best Practices
Leveraging Available Tax Benefits, Buy-Sell Agreement, Lifetime Gift Strategies, Leverage Trusts, and More
Note: CPE credit is not offered on this program
Recording of a 90-minute CLE video webinar with Q&A
This CLE webinar will provide estate planners guidance on key estate and tax considerations when developing and implementing an appropriate succession plan. The panel will discuss entity structures, leveraging available tax benefits, and incorporating gift and estate planning in a succession plan, as well as address other needs to help create a successful succession plan and process.
Outline
- Overview of succession planning and its importance
- Discussion of how general counsel can work to draft and maintain a business succession plan
- Common types of succession planning vehicles
- Common issues with succession planning
- Key gift, estate, and tax planning considerations
- Utilizing trusts
- Best practices for maintaining and updating a formal business succession plan
Benefits
The panel will review these and other relevant topics:
- Why is succession planning important for all businesses?
- What is general counsel's role in drafting and maintaining a business succession plan?
- What are the common types of succession planning vehicles?
- How do you incorporate gift and estate planning in a business succession plan?
- What are the estate and tax issues that must be considered?
- How can trusts be utilized and what are the pitfalls to avoid?
- Which employees should be included in a company's succession plan?
Faculty
Bradley Fisher
Co-founder and Partner of The Scalability Leadership Group (SLG) and Featherstone Holdings
The Scalability Leadership Group (SLG) and Featherstone Holdings
Mr. Fisher works with business leaders who want to unlock the long-term potential of their companies and their... | Read More
Mr. Fisher works with business leaders who want to unlock the long-term potential of their companies and their families. He speaks and writes about structural scalability, leadership, and family business matters. Mr. Fisher recently published a book called Family Business Abundance. He is a Co-founder and Partner of The Scalability Leadership Group (SLG) and Featherstone Holdings. Mr. Fisher has devoted most of his career to entrepreneurship in the business-to-business, technology, healthcare, manufacturing, and investment management arenas. He received an M.B.A. from Stanford University and a B.S. in Economics from the University of Minnesota. Mr. Fisher is and has been a board member of many fine companies and non-profit institutions.
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Michael de León Hawthorne
Partner
Bailey Glasser
Mr. Hawthorne is nationally recognized in the areas of corporate law, mergers and acquisitions (M&A), and... | Read More
Mr. Hawthorne is nationally recognized in the areas of corporate law, mergers and acquisitions (M&A), and securities law. He has extensive experience working on securities matters and helps his clients comply with related laws and regulations, and also works with clients involved in complex commercial litigation. Mr. Hawthorne also has extensive experience in working with tax laws and how to structure companies and deals to help work with and maximize tax benefits and savings (e.g., tax-free transactions, 1202 benefits, partnership taxation, like-kind exchanges, tax incentives and financings).
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Michael D. Whitty
Partner
Smith, Gambrell & Russell
Mr. Whitty is a Partner in the Corporate Practice of Smith, Gambrell & Russell, LLP. He was a Partner with Freeborn... | Read More
Mr. Whitty is a Partner in the Corporate Practice of Smith, Gambrell & Russell, LLP. He was a Partner with Freeborn & Peters, which combined with SGR in 2023. Mr. Whitty concentrates his practice in estate planning, taxation, and estate and trust administration. He represents business owners, principals of venture capital and private equity funds, key executives, investors, and other high net worth individuals in planning for the preservation and transfer of their wealth. Mr. Whitty advises individuals and fiduciaries in the design and drafting of estate plans, wills, trusts, lifetime gifts, premarital agreements, and other estate planning documents. He has extensive experience with various types of trusts, family limited partnerships, corporate recapitalizations, shareholders’ and redemption agreements, private annuities, installment sales, intra-trust sales, and other transactions, self-canceling installment notes, and net gifts. Mr. Whitty also reviews and manages estate and gift tax returns, including complex reporting and valuation issues. He consults with executors, administrators, guardians, and trustees in probate and trust administration. Mr. Whitty supervises the drafting of estate administration documents and the filing of pleadings, motions, and accountings with probate courts. He also advises clients in connection with litigation involving disputes between trustees and beneficiaries and in contested trust and tax matters, and he has served as an expert witness in such cases. Prior to joining the Firm, Mr. Whitty was a Partner with Handler Thayer LLP.
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