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$55 for Non-Members
March 12, 2021
Westchester County Bar Association
Business Succession Planning
This presentation covers 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 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 also discuss determining inside and outside basis on an S Corporation stock and tax issues regarding negative capital accounts.
Program Titles and Supporting Materials
This program contains the following components:
If applicable, you may obtain credit in multiple jurisdictions simultaneously for this program (see pending/approved list below). If electing credit for this program, registrants in jurisdictions not listed below will receive a Certificate of Completion that may or may not meet credit requirements in other jurisdictions. Where applicable, credit will be only awarded to a paid registrant completing all the requirements of the program as determined by the selected accreditation authority.
How to Attend
Join the self-paced program from your office, home, or hotel room using a computer and high speed internet connection. You may start and stop the program at your convenience, continue where you left off, and review supporting materials as often as you like. Please note: Internet Explorer is no longer a supported browser. We recommend using Google Chrome, Mozilla Firefox or Safari for best results.
You may access this course on a computer or mobile device with high speed internet (iPhones require iOS 10 or higher). Recommended browsers are Google Chrome or Mozilla Firefox.