Closely Held Business Estate Planning

Overview

This CPE course can be purchased individually or as part of the Estate Planning Certificate Program.

Owners of closely held businesses have unique estate planning considerations that should be addressed by the personal financial planner.

Updated for the Tax Cuts and Jobs Act (TCJA) of 2017, this CPE course covers planning strategies and documents related to closely held business estate planning issues. This course features specialized knowledge areas including:

• Special use valuations for real property used in a farm or closely held business
• Family succession planning
• Business continuation agreements
• Buy-sell agreements

This course also covers continuation agreements to prevent familial disputes and to ensure continuity of the business. Many continuation agreements contain provisions for the orderly transfer of ownership interests at disability, retirement, or death. As the personal financial planner, you should have a working knowledge of these agreements, so you can provide reasoned recommendations to your clients.

Enhanced On-Demand Format

This enhanced on-demand format offers meaningful and relevant content in the form of tables, charts, and discussion points on slides. An instructor who is an expert on the topical area breaks down complex topics, offers best practices, provides clarity, and shares insights that help the learner achieve the learning objectives for the course.

Highlights

Key Topics

• Closely held business estate planning issues
• Special use valuation under IRC Section 2032A
• Special rules for surviving spouses
• Definition of a qualified heir
• What constitutes a taxable event
• Family succession planning
• Familial disputes
• Buy-sell agreements

Prerequisites

Basic knowledge of the areas of personal financial planning (PFP)

Designed For

Who Will Benefit

• CPAs and financial planners with basic knowledge of personal financial planning and an interest in estate planning.

Objectives

Learning Outcomes

• Identify a method for valuing certain qualified real property.
• Recall the requirements for real property to qualify under IRC Section 2032A.
• Select an activity that qualifies an individual as materially participating.
• Identify a contractual obligation that restricts business owners from freely transferring their ownership interests in a closely held business.
• Recall a business continuation strategy that will benefit a closely held family business upon the loss of a person whose contributions are critical to the business.
• Recognize the type of buy-sell agreement that is funded with insurance contracts.