ICLE | Holding Business Interests in Trust
Holding Business Interests in Trust
| CLE: 1 | Level: Basic/Intermediate
Cosponsored by the Probate and Estate Planning Section of the State Bar of Michigan

Holding business interests in trust has many advantages, but it is also fraught with potential pitfalls. However, with proper planning, the client's business can be transferred to the intended beneficiaries without creating a tax disaster. Avoid losing S corporation status, advise trustees when a business is held in trust, and plan for a smooth transition from the business owner to other family members or key employees.

Watch so that you can:

  • Select the right trust to hold the business interest
  • Protect the trustee with retention clauses
  • Minimize risk when diversifying assets
  • Counsel trustees on how to properly allocate receipts and disbursements
  • Draft the trust with an eye toward succession planning
  • Anticipate potential roadblocks after a client's death
Available Formats
Rob Labe and Tom MacFarlane discuss how a trustee can minimize risk when administering a...
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