Understand how to transfer business operations to future generations without overpaying the Internal Revenue Service using the Beneficiary Defective Inheritor Trust.
Many wealthy clients that have developed and run a family business are concerned with the transfer of that business to future generations without enriching the Internal Revenue Service because of the transfer. By using the Beneficiary Defective Inheritor Trust (BDIT), this can be accomplished using legal drafting techniques in conjunction with current law, regulations, and case rulings. The client would not lose control of their business that is required in many other planning techniques. The techniques involved require coordination between the lawyer, CPA, financial advisor, valuation expert, and the client. They are all working to affect the transfer of the business in a manner that will not expose the current and future generations to creditor problems because of lawsuits or divorce. The BDIT also has provisions which will allow for changes in the document to deal with changes in future family dynamics.
Add to Wishlist
More Program Information
Why Lorman?
Over 37 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
Client's Wish List
Set up of BDIT
- Gift by Non-Beneficiary
- Sale of Business and Trust
- Grantor Trust Rules for Taxes
- Asset Protection
- Dynasty Trust
Basis Planning
Seed Money vs. Guarantees
- 10% Rule
- Guarantees
Advantages
- Control
- Estate Tax Avoidance
- Asset Protection
- Situs Choice
Add to Wishlist
More Program Information
Why Lorman?
Over 37 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 May 22, 2019.
Call 1-866-352-9540 for further credit information.
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
Add to Wishlist
More Program Information
Why Lorman?
Over 37 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
Michael W. Halloran, CFP, AEP, ChFC, CLU
Northwestern Mutual
- Wealth Management Advisor at Northwestern Mutual
- Enjoys working with high net worth clients in growing and protecting their estate
- Awarded admission into the Estate Planning Hall of Fame in 2015
- Speaks around the country talking in estate, insurance, and investment planning
- Professional designations; AEP (Distinguished), CFP, CLU, ChFC, RHU, REBC, RICP, & LITCF
- Featured in publications including; National Underwriter, Capital Executive, New York University Review, Money, Life Association News, Life Insurance Selling, USA TODAY, New York Times, Chicago Tribune, Congressional Quarterly, Dow Jones and News Wire
- Member of the National Association of Estate Planners and Councils (NAEPC), National Association of Insurance and Financial Advisors (NAIFA), and the Society of Financial Service Professionals
- B.S. degree, Florida State University; M.S.F.S. degree, American College of Financial Services; M.S.M. degree, American College of Financial Services
- Can be contacted at [email protected] or 904-399-8308
Add to Wishlist
More Program Information
Why Lorman?
Over 37 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!
- OnDemand Courses
- Live Webinars
- MP3 Downloads
- Course Manuals
- Executive Reports
- White Papers and Articles
Additional benefits include:
- State Specific Credit Tracker
- All-Access Pass Course Concierge
Questions? Call 877-296-2169 to speak with a real person.
Access to all training products for one year
$699/year
Unlimited Lorman Training
With the All-Access Pass there is no guessing what you will need for your yearly training budget. $699 will cover all of your training needs for an entire year!
Easy Registrations
Once you purchase your All-Access Pass you will never be any further than one-click away from attending any Lorman training course.
Invest in Yourself
You haven't gotten to where you are professionally by luck alone; it's taken a lot of hard work and training. Invest in yourself with the All-Access Pass.
