WELCOME & INTRODUCTION  (5 MINUTES)

Business Valuation – Understanding the Value of Your Client’s Business  (45 MINUTES)
Some of the key questions when doing estate planning for a business owner are what their business might be worth, how it generates value, and how fast it is likely to grow in the future. The goal of this session will be to gain insight into the way a potential buyer might value various types of businesses. This presentation will cover the metrics a potential buyer might consider when evaluating a business; the different types of businesses (holding companies, manufacturing companies, service companies, tech companies, etc.); and how the type of business affects the way a buyer might assess its value. This will lead to a discussion of how businesses generate value; the difference between growth-oriented businesses and distribution-oriented businesses; and the general process of finding a buyer to acquire a business as a going concern.
– Mitchell Hoistad, Cory J. Markling & Christopher Van Schooneveld

Income Tax Issues for Closely Held Businesses  (45 MINUTES)
Different types of business entities have distinct income tax characteristics that estate planners who work with business owners need to be aware of, and these can have a significant impact on estate and gift tax planning options. This session will discuss the key differences in the income tax rules applicable to different entity types and why they matter for effective estate planning for business owners with a focus on the mechanics of the entities from a business and tax perspective. Learn the differences and similarities between C Corporations, S Corporations and Partnerships and the tax treatment of distributions, the effect of an owner’s death on basis and the ability to transfer ownership to charities and trusts.
– Matthew T. Brown & Derek M. Dockendorf

Core Estate Planning for the Small Business Owner  (45 MINUTES)
Learn how to integrate succession planning for the business with estate planning documents to ensure continuity, minimize taxes, and provide for loved ones.
– Barbara M. Kristiansson

Buy-Sell Agreements and Succession Planning  (45 MINUTES)
Explore planning and drafting issues to satisfy client goals under different circumstances. This session will discuss:  

• Forms of agreement and critical provisions for tax planning
• Timing considerations
• Funding
• Redemptions and cross-purchase, buy-sell agreements
• Permitted estate planning transfers to family members and trusts for family members
• Effects of the buy-sell agreement on estate tax valuation of the business

– Justin J. Seitz & Matthew J. Shea

Legacy or Litigation? Steering Private Companies Through Succession Conflicts  (45 MINUTES)
Succession planning in private businesses often triggers conflict – over control, money, expectations, and legacy. In this session, you will hear from two experienced trial attorneys who will share hard-won lessons from the trenches of ownership battles and business divorces to show how thoughtful planning can keep companies out of court. This session will highlight:

• Why strong written agreements matter – and the clauses that most often avoid litigation.
• Duties of owners and managers, and how misunderstandings fuel conflict.
• Key terms to include in succession plans, from valuation to voting to dispute-resolution provisions.
• Real-world conflict patterns, and how clear documentation and communication could have prevented them.

– Janel M. Dressen & William Paterson

Tax Planning for the Closely Held Business Owner  (45 MINUTES)
Tax planning for a closely held business owner involves a holistic, proactive approach integrating business operations, personal finances, and long-term success goals. Key strategies include optimizing business structure, maximizing deductions and credits, and implementing sophisticated estate planning techniques.
– Jennifer A. Ede

Life Insurance and Business Planning  (45 MINUTES)
This session will discuss why the business owner needs life insurance and how best to structure the insurance purchase and ownership to achieve those goals. Creative uses for life insurance in the family-owned business, including life insurance trusts; split-dollar insurance and insurance to fund buy-sell agreements, pay estate taxes, and provide liquidity to non-family employees.
– Chad A. Carr & Timothy D. Foster

Succession Planning Panel  (45 MINUTES)
This final session of the seminar applies the laws and strategies learned throughout the day to a series of fact patterns. Listen as our panel walks through the strengths, weaknesses and consequences of different estate and business succession planning strategies through a scenario-based discussion.
– Jennifer A. Ede, Amy A. Johns, Beth T. Morrison & Lauren Winter Routhier

$295

Other discounts that may apply:

• Season Pass Discount
• On Demand Bundle Discount
• New Lawyer Discount

Scholarships available!
Need-based scholarships are available for in-person and online seminars. For further information or to obtain a scholarship application, contact us at 800-759-8840 or customerservice@minncle.org.

Minnesota CLE is applying to the Minnesota State Board of CLE for 6.0 standard CLE credits. The maximum number of total credits attendees may claim for this program is 6.0 credits.

Depending on the jurisdiction in which you practice, you may or may not be able to claim credit for viewing this on demand seminar. Please check with your licensing agency for accreditation information.