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Live Webinar

90-minute live streaming program
  • June 28
  • 1:00 - 2:30 pm EST

Fundamentals of Succession Planning

June 28

Succession Planning is an essential component for a complete estate plan.

Whether the individual owns a business, created a charitable entity, or has pets, the manner to effectuate a successful transfer is based on a similar identifiable process. This topic will provide an outline of the considerations necessary to define, execute and implement an appropriate succession plan for a client. It begins with a discussion of the transferor’s motivations when transferring property and concludes with an examination of the critical tax rules implicated by the transfer.

Learning Objectives

  • You will be able to identify what key information is necessary when a client is considering transferring business interest.
  • You will be able to discuss planning for pets.
  • You will be able to review charitable transfers.
  • You will be able to explain how to assess applicable tax rules for transfers.

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Why Lorman?

Over 32 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

Overview of Planning for Business Transfers, Pets, and Charitable Giving
Obtain Key Information Necessary When Client Is Considering Transferring Business Interest
  • Understand the Structure and Composition of the Business: Formation History, Relationship of Current Owners, and Copies of Governing Documents
  • Look to Governing Documents for Rules and Restrictions on Transfers and Apply Default Rules If Silent
  • Determine Valuation and Available Discounting
  • Identify Methods to Transfer Interests During Life via Outright Gifting or Transfers in Trust
  • Effectuating Transfers at Death via Buy/Sell Agreement or Life Insurance
Planning for Pets
  • Power of Attorney
  • Trust for Pet
  • Provisions in Will
Charitable Transfers
  • Vehicles for Charitable Purposes
  • Income and Estate Tax Deductions
  • Creation and Administration of Charitable Contribution
Assess Applicable Tax Rules for Transfers
  • Gift Taxes - SEC. 2501 to 2505
  • Lapsing Rights and Restrictions - SEC. 2704
  • Adjustment to Basis of Partnership Interest - Inside Basis and Outside Basis - SEC. 754; and Secs. 734 and 743
  • Irrevocable Life Insurance Trust Created and Funded Within 3 Years of Death - SEC. 2035(a)
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Why Lorman?

Over 32 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

Live Webinar Registration

  • CFP 1.5
     
  • The Certified Financial Planner Board of Standards, Inc. has granted 1.5 hours of continuing education credit. Level of Knowledge: Intermediate.
     
  • AL CLE 1.5
     
  • This course or a portion thereof has been approved by the Alabama State Mandatory Continuing Legal Education Commission for a maximum of 1.5 hours credit.
     
  • AR CLE 1.5
     
  • This course has been approved for 1.5 hours of CLE by the Arkansas CLE Board.
     
  • Arizona CLE 1.5
     
  • The State Bar of Arizona does not approve or accredit CLE activities for the Mandatory Continuing Legal Education requirement. This activity may qualify for up to 1.5 hours toward your annual CLE requirement for the State Bar of Arizona.
     
  • CA MCLE 1.5
     
  • Lorman Business Center, Inc. is a State Bar of California approved MCLE sponsor and this course qualifies for 1.5 CLE hours of participatory credit.
     
  • CT CLE 1.5
     
  • Neither the Connecticut Judicial Branch nor the Commission on Minimum Continuing Legal Education approve or accredit CLE providers or activities. This course has been approved for CLE credit in jurisdictions aside from CT and therefore it automatically meets the content and delivery requirements in Connecticut. Credit is based on a 60 minute credit hour and shall be awarded as follows: 1.5 CLE credit(s).
     
  • GA CLE 1.5
     
  • This program has been approved by the Georgia Commission on Continuing Lawyer Competency for 1.5 CLE hours.
     
  • HI CLE 1.5
     
  • This program was approved by the Hawaii State Board of Continuing Legal Education for 1.5 CLE credit hours.
     
  • IL CLE 1.5
     
  • This course was approved for a total of 1.5 hours of MCLE Credit by the Illinois MCLE Board.
     
  • ME CLE 1.5
     
  • This course has been approved by the State of Maine Board of Overseers of the Bar. Lawyers who complete this course shall receive 1.5 hours of CLE credit under M. Bar R. 12.
     
  • MS CLE 1.5
     
  • This program has been approved by the Mississippi Commission on Continuing Legal Education for a maximum of 1.5 credit hours.
     
  • MT CLE 1.5
     
  • This program has been approved by the Montana Commission of Continuing Legal Education for a total of 1.5 CLE credits.
     
  • NH MCLE 1.5
     
  • NH MCLE does not approve or accredit CLE activities for the NH Minimum CLE requirement. Lorman Education Services believes this course meets the requirement of NH Supreme Court Rule 53 and may qualify for CLE credit(s). Program Length: 90 Minutes.
     
  • NJ CLE 1.8
     
  • This program has been approved by the Board on Continuing Legal Education of the Supreme Court of New Jersey for 1.8 hours of total CLE credit.
     
  • NV CLE 1.5
     
  • This program has been approved by the Nevada Board of Continuing Legal Education for 1.5 CLE hours.
     
  • NY CLE 1.5 including Areas of Professional Practice 1.5
     
  • This course has been approved in accordance with the requirements of the New York Continuing Legal Education Board for up to a maximum of 1.5 credit hours in the area(s) of Areas of Professional Practice for 1.50 hours. Each hour may be counted only as satisfying one category of credit. Duplicate credit for the same hour of instruction is not permitted. This course qualifies for both established and newly admitted attorneys. Lorman Business Center, Inc. has a financial hardship guideline. Please contact customer service at 1.866.352.9539 for instructions on how to apply.
     
  • PA CLE 1.5
     
  • This Distance Learning program has been approved by the Pennsylvania Continuing Legal Education Board for 1.5 hours of substantive law, practice and procedure CLE credit.
     
  • RI CLE 1.5
     
  • This program has been approved by the Rhode Island Mandatory Continuing Legal Education Commission for 1.5 hours of CLE credit.
     
  • TN CLE 1.5
     
  • This program has been approved as a distance learning format by the Tennessee Commission on Continuing Legal Education for a maximum of 1.5 hours of credit.
     
  • VT CLE 1.5
     
  • This program has been approved by the Mandatory Continuing Legal Education Board of Vermont for 1.5 hours of CLE credit.
     
  • WA CLE 1.5
     
  • This program has been approved by the Washington State Board of Continuing Legal Education for 1.5 hours of Law & Legal Procedure credit.
     
  • WI CLE 1.5
     
  • This program has been approved by the Board of Bar Examiners for 1.5 hours for use toward the Wisconsin Mandatory CLE requirement.
     
  • WV MCLE 1.8
     
  • This program has been approved by the West Virginia State Bar MCLE Commission for 1.8 MCLE hours.
     
  • CPE 1.8 including Specialized Knowledge and Applications 1.8
     
  • Lorman Education Services is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its web site: https://www.nasbaregistry.org/cpas/complaints. For more information regarding administrative policies such as complaint and refund, please contact our offices at 866-352-9539. CPE Credit: Maximum Credit Hours: 1.8 each session (based on a 50 minute credit hour). You must attend at least 50 minutes to obtain credit. Field of Study: Specialized Knowledge and Applications for 1.8 hours. Prerequisite: basic knowledge of estate planning. Level of Knowledge: Intermediate. Teaching Method: Seminar/Lecture. Advance Preparation: None. Delivery Method: Group Internet Based. Please refer to the information in this brochure for outline, course content and objectives. Upon completion of this course, you will receive a certificate of attendance. Final approval of a course for CPE credit belongs with each state's regulatory board. Please note: In order to receive CPE credit for this course you MUST use the streaming audio option, as well as enable and complete the required progress checks.
     
  • Lorman Business Center, Inc. is a registered provider for CPA CPE through the State Education Department of New York, Sponsor number: 000640. The following course will carry the subject area of Specialized Knowledge and Applications for 1.5 hours.
     

Who should attend?

This live webinar is designed for attorneys, presidents, vice presidents, financial and estate planners, developers, real estate professionals and accountants.

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Why Lorman?

Over 32 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

Jennifer V. Abelaj

Jennifer V. Abelaj

Davidoff Hutcher & Citron LLP

  • Senior counsel at Davidoff Hutcher & Citron LLP
  • Practice emphasizes all aspects of trusts and estates, not-for-profits, and taxation
  • Conducts regular seminars and workshops on trust administration, business succession planning, creation of not-for-profit and advanced estate planning techniques
  • Author of several publications and quoted for expertise in taxation in: The New York Times; Bloomberg; Tax Notes; Law360
  • Membership of the New York State Bar Association; New York Women’s Bar Association
  • J.D. degree, St. John’s University School of Law; B.S. degree, Fordham University, Gabelli School of Business; Certified Public Accountant, New York State
  • Can be contacted at [email protected], 646-428-3276, on Twitter® @JVATaxnLaw or at www.linkedin.com/in/jenniferabelaj
Anta Cissé-Green

Anta Cissé-Green

NYU Langone Health

  • Associate general counsel of development at NYU Langone Medical Center
  • Seasoned tax professional who advises clients on the tax efficient use of complex vehicles to transfer wealth to family members using various estate, gift generation skipping and charitable vehicles
  • Member of the New York State Bar Association, the New York City Bar Association and the current trusts and estates editor for the eReport, the online publication of the American Bar Association, Real Property Trusts and Estates Section
  • Certified as a trusts and estates practitioner with the Society of Trusts and Estates Practitioners
  • Superlawyers New York Metro Rising Star 2013-2014, Estate Planning & Probate, named to the National Black Lawyers Top 100 Attorneys and a member of the Executive Committee for The National Advocates
  • L.L.M. degree, taxation, New York University School of Law; J.D. degree, magna cum laude, Brooklyn Law School
  • Can be contacted at 646-754-7385, [email protected] or on Twitter @ACisseGreen
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Why Lorman?

Over 32 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.

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Product ID: 405677
Published 2019
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