Planning for the Death of the Majority Shareholder (Completed)

Date: Wednesday, August 4, 2021
Instructor: Klaralee R. Charlton
Begin Time:  12:00pm Pacific Time
1:00pm Mountain Time
2:00pm Central Time
3:00pm Eastern Time
CPE Credit:  2 hours for CPAs
2 hours Federal Tax Related for EAs and OTRPs
2 hours Federal Tax Law for CTEC
2 hours Estate Planning for CFP

The death of the majority shareholder or partner in an entity presents its own challenges in estate planning and administration. In this presentation practitioners will learn how entity ownership passes upon the death of the owner and the estate tax and income tax considerations that must be analyzed before and after the death. Participants will also learn how to establish control over the entity when the managing owner passes away and options for transferring, liquidating, or continuing the entity after death.

Who Should Attend
Attorneys, CPAs, and Enrolled Agents.

Topics Covered

  • Description of types of entities and their ownership and management structures
  • Review of the basis adjustment rules relating to entity ownership interests
  • Illustration of the benefits achieved by making a 754 election for a partnership
  • Examples of common transfer restrictions placed on ownership interests and their use in accomplishing estate planning goals
  • Analysis of how partners can plan for their death to streamline the transition process

Learning Objectives

  • Describe the importance of planning for the death of a managing shareholder or partner
  • Identify the basis adjustment differences between partnerships and corporations
  • Identify transfer restriction provisions and how to accomplish transfers upon death
  • Recognize and analyze the tax savings that can be achieved by adjusting the tax basis at death
  • Recognize how to recommend estate planning techniques to streamline the transfer of control at death


Instructional Method
Group: Internet-based

NASBA Field of Study
Taxes (2 hours)

Program Prerequisites

Advance Preparation

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