Understanding family limited partnerships for estate planning may save your client's family a considerable amount in estate taxes.
Family limited partnerships are still hot estate planning tools. Using family limited partnerships for estate planning may save your client's family held businesses from filing due to a lack of succession planning or the burden of estate taxes. This topic will provide successful strategies to use family limited partnerships, and will include several creative strategies.
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Why Lorman?
Over 34 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Agenda
Current Real World Overview
FLPs for Business and Estate Survival
- FLPs as Business Succession Tool (Nontax)
- Business Succession Concerns
- Sales Direct vs. FLP
- BuySell Agreements
- Valuation/Payment Strategies
- Senior Generation Cash Flow Concerns
- FLP as Estate Reduction Tool (Tax Motivated)
- Gift/Sale Options
- Valuation Revisited
- Protecting Section 6166
- Advanced Planning
- GRAT/FLP Combination
- Charitable Planning
- Life Insurance Planning
FLP - Limited Partnerships vs. Limited Liability Companies
- Legal Issues
- Asset Protection
- Organizational
- Drafting Issues
Tax Issues With FLPs
- Income Tax Issues
- Estate Tax Issues
- Tax Challenges
- Settlement Guidelines
- Congressional Reform
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Why Lorman?
Over 34 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Credits
OnDemand Course
This course was last revised on July 30, 2019.
Call 1-866-352-9540 for further credit information.
- CA MCLE 1.5
- Lorman Business Center, LLC. is a State Bar of California approved MCLE sponsor and this course qualifies for 1.5 CLE hours of participatory credit.
- NM CLE 1.5
- This program has been approved by the New Mexico Minimum Continuing Legal Education Board for 1.5 hours of credit.
- WA CLE 1.5
- This program has been approved by the Washington State Board of Continuing Legal Education for 1.5 hours of A/V credit under the Law & Legal Procedure category.
To earn each credit Lorman offers through the OnDemand learning platform, you need to watch 100% of the program. Also, for certain credits you will need to fulfill additional requirements which will be displayed on the "credits" tab when viewing the course.
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
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Why Lorman?
Over 34 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Faculty
Cameron L. Hess, Esq., CPA, MBT
Wagner Kirkman Blaine Klomparens & Youmans LLP
- Partner with the Northern California law firm of Wagner Kirkman Blaine Klomparens & Youmans LLP
- Business, real estate, estate planning and federal and state tax attorney (emphasis: real estate, IT, closely held businesses)
- Chair Corporate and Pass through Entities Committee of the California Lawyers Association Tax Section; past member Business Law Section’s Committee of the same name
- Adjunct professor at McGeorge School of Law (Partnership Taxation)
- More than 35 years of experience
- Chair, The RED Group, a CalCPA Sacramento Real Estate think tank, 26-years
- Committee member/past chair CalCPA Ed Foundation Tax Conference (and prior Real Estate Conference), 17-years
- California Apartment Association – Sacramento Valley (government relations/past president)
- National speaker on tax law
- Prior: KPMG Lost Angeles Office State and Local Tax Practice (manager)
- Spidells California Taxletter, past columnist, continuing contributing writer
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Why Lorman?
Over 34 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
All of your training, right here at Lorman.
Pay once and get a full year of unlimited training in any format, any time!
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