Estate Planning & Administration Considerations for LLCs (Completed)
Date: Friday, November 14, 2025
Instructor: Klaralee R. Charlton
| Begin Time: |
11:00am Pacific Time
12:00pm Mountain Time
1:00pm Central Time
2:00pm Eastern Time |
| CPE Credit: |
2 hours for CPAs
2 hours Federal Tax Related for EAs and OTRPs
2 hours Federal Tax Law for CTEC |
|
NOTE: Go to My Professional Profile in your CCH CPELink account settings to ensure your name, and PTIN number; matches your PTIN card
Limited Liability Companies (LLCs) are commonly used in estate planning, but the transfer and administration of LLC interests after death present unique legal and tax challenges. Proper planning is essential to ensure a smooth transition of ownership, avoid unnecessary tax burdens, and maintain business continuity.
This course explores key estate planning and administration issues related to LLCs, including the transfer of LLC interests at death, updating management roles, gift and estate tax implications, cost basis adjustments, and post-death income tax considerations. Participants will gain insight into partnership taxation rules, the impact of elections such as Section 754, and best practices for structuring LLC agreements to facilitate seamless estate administration.
Ideal for tax and estate planning professionals, this course provides practical strategies for effectively incorporating LLCs into an estate plan while minimizing tax liabilities and administrative complications.
Topics Covered
- Transfer of LLC interests at death and legal considerations for beneficiaries
- Updating LLC management and maintaining business continuity after an owner’s death
- Gift and estate tax implications of LLC ownership transfers
- Cost basis adjustments and their impact on LLC interests
- Post-death income tax concerns, including partnership taxation and Section 754 elections
Learning Objectives
- Explain the process for transferring LLC interests at death and the legal and tax implications for heirs and beneficiaries
- Analyze the steps required to update LLC management and maintain business continuity after the owner’s death
- Evaluate gift and estate tax considerations related to LLC ownership transfers, including valuation and tax planning strategies
- Identify the impact of cost basis adjustments on LLC interests and opportunities to minimize tax liabilities
- Assess post-death income tax concerns for LLCs, including partnership taxation rules and Section 754 elections
Level
Basic
Instructional Method
Group: Internet-based
NASBA Field of Study
Taxes (2 hours)
Program Prerequisites
None
Advance Preparation
None
