ICLE | Using a Formula Clause to Gift a Closely Held Business Interest
Using a Formula Clause to Gift a Closely Held Business Interest
05/15/24 Acme | CLE: 2.75 | Level: Intermediate/Advanced
Cosponsored by the Probate & Estate Planning Section of the State Bar of Michigan

Solutions and Strategies for Common Gifting Scenarios

Have a client who is a business owner and wants to gift an interest in their closely held business through the use of a defined value clause?

In this perfect companion to ICLE’s Probate & Estate Planning Institute, nationally recognized speaker Elizabeth K. Arias delivers an in-depth analysis of situations that estate planners commonly face with these clients. Walk away with optimal strategies to get the best tax outcomes with the least amount of complexity.

You will be able to:

  • Grasp how recent opinions impact your approach in drafting a defined value clause
  • Understand the pros and cons of making this type of gift
  • Identify the ideal type of trust to use and structure the operating agreement for the LLC to coordinate
  • Understand how the company ownership should be reflected post-gift
  • Effectively work with an appraiser
  • Comply with IRS rules
  • Prepare the gift tax return and allocate GST exemption
Available Formats
Attend in person. Networking opportunities.