Estate And Succession Planning For The 99%


OVERVIEW

The essence of estate and succession planning is to achieve an integrated wealth management and succession plan that will achieve family goals, protect family net worth and ensure succession of management over several generations. Income tax considerations are more important than ever, especially preserving the available “step-up” in income tax basis to “fair market value” of assets owned at death. Human factors, including the avoidance of family disputes over wealth, are most important, and tax and financial advisors can and should be proactive in estate and succession planning for their clients at all net worth levels. This webinar course provides key tools to advisors that will allow for active, workable and tax-favoured planning to be developed and implemented.

WHY SHOULD YOU ATTEND

Ownership and Management of Property (Wealth) is key to proper development of Net Worth, including active business and passive investment assets that will survive inter-generational transfers at disability or death of the owner of the property. Tax and financial advisors, as well as key family members involved in wealth management and non-family key employees, all must work together in estate and succession planning. Therefore, whether you are a CPA, EA, attorney, financial advisor, or a management employee of the closely-held business, this course is a key to your success in the process involved in Family Wealth Planning.

AREAS COVERED

  • Understanding the thrust and coverage of income and transfer tax provisions of both Federal and State law.
  • Consideration of factors involved in equity ownership of assets, including business equity and real estate, as well as active management of such wealth.
  • Evaluation of family business, investment and personal goals, and how to work them into an integrated Family Wealth Plan for the family on a multi-generational basis.
  • Development of an advisor team approach to integrated planning, with each advisor having a useful and clearly understood role.
  • Utilization of a “pro forma” financial and family analysis of any given plan and how to communicate the plan to the family members who must understand the plan and accept it.
  • Ensuring clear, understandable documentation of the plan, as well as periodic review and updating thereof, as necessary.

LEARNING OBJECTIVES

By reason of large exemptions from any Federal Estate and Gift Tax, due to tax law changes in 2012 and 2017, most individuals, couples and families will have no worry about incurring any Federal estate or gift tax. Yet since “you can’t take it(meaning wealth) with you at death”, estate and succession planning now is more important than ever. Therefore, families should focus on lifetime planning so as to ensure maximum effective wealth transfers both via gift and at death. This course will review planning alternatives and, specifically, the 15 important reasons for tax and financial advisors to help their clients with estate and succession planning.

WHO WILL BENEFIT

Those who will benefit from this webinar course include business owners and managers, CPAs and Enrolled Agents, Certified Financial Planners, Attorneys, Life Insurance and Securities Advisors.

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