When creating a business exit strategy with a client several options may be discussed, donations to charity are often an afterthought when it may be too late. Naturally, there are concerns: Will having a charity as an owner complicate business decisions and marketability? What are the IRS rules and recent case law around a donation of closely held business interests? How does the business structure and underlying asset impact the donation? What happens if the business doesn’t sell? This session will outline the pros, cons and process to navigate a regulatory minefield and unlock significant tax savings through charitable gifts of closely held business interests.
Learning Objectives:
- The tax benefits of pre-sale versus post-sale donations of business interests
- How to determine if the timing of a pre-sale contribution meets IRS regulations
- The steps for pre-sale donation of closely help business interests.
About the Presenter:
Hear from industry experts, Christine Yates, Director of Tripp Scott, Lance Lvovsky, Partner at Marcum LLP, and Mark Kotler Senior Director of Philanthropic Services, Community Foundation of Broward.
Thank you to our Sponsors
Event Details
Who Should Attend?
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Attorneys
You have close relationships with clients, and can benefit from being the first advisor to introduce the idea of exit planning.
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CPAs/Accountants
Owners participating in the State of Owner Readiness research continue to indicate that you are the No. 1 "Most Trusted Advisor." You are a natural fit to lead the exit planning team and deepen your relationship (and retention) of next generation owners.
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Wealth Managers
You’re a skilled relationship person. Being entangled into your clients’ professional lives matters as you build a strategy to manage their wealth upon them harvesting it from their business. Exit planning allows you to build a deeper relationship with your client, expands your COI network, while giving you an early seat at table well before the liquidity event.
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Financial Advisors
One of the critical ‘legs of the stool’ is personal financing planning. An owner must have a strong financial plan & contingency plan post-transition to enable them to thrive in the next act of the lives personally and financially. Exit planning brings this future mindset into the present. Exit is now.
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Valuation Analysts
Valuation is both a billable engagement AND an opportunity to provide owners some perspective on how to accelerate value drivers (and deal with value killers). Use exit planning to make that valuation into a longer term value acceleration engagement.
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Investment Bankers
Only 2 of every 10 businesses that come to market actually sell. Learn how exit planning can bring attractive AND ready business to your purview.
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Estate Planners
Exit planning is a natural fit for estate planners who want to operate more holistically with their owner clients.
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Mergers & Acquisition Advisors
Proper exit planning causes less deals to fall through at the last minute. Connect with CEPAs to build your healthy deal flow network.
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Strategic Consultants
One of the most critical roles in exit planning is building transferable value. Strategic consultants have the ability to expand options and drive rapid business value that affect performance today.
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Insurance Professionals
Exit planning addresses the 5 D's. So do you. Approach the risk conversation differently with exit planning.
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Commercial Lenders
One of the best relationships a business owner makes is with their banker. How can you help your corporate clients think about the future and ensure financial continuity? Answer: exit planning.
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Family Business Advisors
More than 50% of lower middle market business owners would prefer to transition to the next generation. Help them succeed with exit planning strategies.
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Other Professional Advisors
Regardless of your unique specialty, there is seat at the exit planning table for you. Learn more at www.EarnCEPA.com.
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Private Business Owners
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Members of Family Business Boards
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Professional Advisors
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Business Consultants
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Other Business Professionals
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Business Owners
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Business Owners & Their Trusted Advisors
EXIT PLANNING IS GOOD BUSINESS STRATEGY
The Exit Planning Institute, provides Financial Advisors, Accountants, Consultants, and other advisors of business owners with the critical education to differentiate themselves and add value to their existing client relationships through a credential, conference, courses, and content. Download the CEPA brochure for more information.
ABOUT THE PRESENTERS
Meet Christine Yates:
Christine P. Yates, a director with Tripp Scott, focuses her practice on guiding individuals and families through the full spectrum of estate planning and probate issues. From small administrations to estates in excess of $100 million, clients receive counsel on wealth preservation techniques and matters involving estate and trust administration and distribution of assets.
With specialization in cases involving high net worth clients, as well as those with Alzheimer’s and Traumatic Brain Injury, Yates assists clients with all aspects of estate, trust and guardianship administration and litigation, both defending and prosecuting undue influence and testamentary capacity claims, contests of wills and trusts, trust administration claims and guardianship claims. She also prepares wills, trusts and complex estate plans and helps clients develop elder planning and guardianship issues. Frequently appointed by the court, Yates has served the judiciary as guardian, guardian ad litem, special master, curator, administrator ad litem and receiver.
Yates has been recognized for her outstanding achievements, and she was named by the South Florida Business Journal as one of the publications “40 Under 40” and is Martindale-Hubbell AV-rated.
Meet Lance Lvovsky:
Lance Lvovsky is a partner at Marcum LLP where he provides tax planning and compliance services to high-net-worth individuals and families, family offices, and closely held businesses. Mr. Lvovsky advises clients on business succession planning; real estate tax strategies; income, trust, and estate tax planning; post-mortem asset distribution planning and funding of trusts; charitable giving and inter-generational family wealth.
Mr. Lvovsky consults with fiduciaries and beneficiaries on trust and estate administration, the rendering of fiduciary accountings, and the preparation of estate, gift, and trust tax returns. His practice is focused largely on the transfer and preservation of family wealth, asset distribution planning, and estate/trust administration.
Mr. Lvovsky is a frequent speaker on estate, gift (including generation skipping transfer tax), and trust taxation matters. His speaking primarily covers estate planning, estate and trust litigation and estate and trust administration. Mr. Lvovsky has also participated in presentations relating to cryptocurrency tax matters.
is a partner at Marcum LLP where he provides tax planning and compliance services to high-net-worth individuals and families, family offices, and closely held businesses. Mr. Lvovsky advises clients on business succession planning; real estate tax strategies; income, trust, and estate tax planning; post-mortem asset distribution planning and funding of trusts; charitable giving and inter-generational family wealth.
Mr. Lvovsky consults with fiduciaries and beneficiaries on trust and estate administration, the rendering of fiduciary accountings, and the preparation of estate, gift, and trust tax returns. His practice is focused largely on the transfer and preservation of family wealth, asset distribution planning, and estate/trust administration.
Mr. Lvovsky is a frequent speaker on estate, gift (including generation skipping transfer tax), and trust taxation matters. His speaking primarily covers estate planning, estate and trust litigation and estate and trust administration. Mr. Lvovsky has also participated in presentations relating to cryptocurrency tax matters.
Meet Mark Kotler:
Mark Kotler serves as the Senior Director of Philanthropic Services for the Community Foundation of Broward. He is primarily involved in engaging professional advisors (estate attorneys, CPAs, and financial planners) with the Foundation to assist them in serving their clients’ philanthropic planning needs. He designs and convenes continuing education credit seminars for advisors and consults individually with advisors and clients on creating personalized philanthropic plans. Mark is a leader on complex gifts at the Community Foundation.
For 35 years, Mark has held leadership major and planned gift fundraising positions with several national and local organizations. He grew up on Long Island, NY and has a degree in English and General Literature from Binghamton University part of the State University of New York. He serves on the Board of the Estate Planning Council of Broward and on the Life and Legacy committee at B’nai Aviv of Weston. He was formerly a board member of the Planned Giving Council of Broward. Mark is married to Dale, and they have two sets of twins. On weekends you will find him on a tennis court.
