4162 | On Demand | Intermediate | Self-Study
Closely Held Business Estate Planning
Friday, May 1, 2020 - Friday, April 30, 2021
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.
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.
- Thomas Tillery (view bio)
- Susan Tillery
CPAs and financial planners with basic knowledge of personal financial planning, and an interest in estate planning.
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
Thomas Tillery is a member of AICPA Personal Financial Planning Section (Non-CPA Associate), the Society of Financial Service Professionals, and the Atlanta Estate Planning Council.
Tom has been a provider of Continuing Education for attorneys, CPAs, and investment and insurance professionals for over 20 years. He has written curriculum and lectured in the discipline of Financial Planning for several universities and on line programs.
Tom is also an Arbitrator for the Financial Industry Regulatory Authority (FINRA).