Business Succession Planning – A Discussion on How to Help Your Clients Navigate the Legal, Tax and Family/Fairness Issues

This presentation will cover the importance of having your clients involve their team of advisors (including their attorney, accountant, banker, financial and insurance advisor, business coach and appraiser) when preparing an exit plan so that the business is transitioned in an orderly manner to the next generation or to a non-family owner.  We will discuss the use of S Corporations (or LLCs), commercial real estate, death benefit only employment contracts as sources of income for the surviving spouse; allocating stock in a family corporation among actively employed children and inactive children; and using recapitalizations, installment sales to intentionally defective grantor trusts, GRATs as techniques to shift future appreciation to the next generation. We will also discuss determining inside and outside basis on an S Corporation stock and tax issues regarding negative capital accounts. 

Speakers: Michael Markhoff, Esq., Danziger & Markhoff LLP
                    Howard Klein, CPA, Citrin Cooperman & Company LLP

Date: Friday, March 12, 2021

Time: 8:30 a.m. - 10:30 a.m.

Format: Webinar via Zoom (A link to register with Zoom will be provided in your confirmation email. You must pre-register on Zoom to receive the event link.)

CLE Credits: 2 Professional Practice