Session Description: Closely Held Businesses: Gift Planning Opportunities Await

Business owners usually have four goals when they leave their businesses: retire; sell to a new owner (family members, employees, or third parties); minimize taxes and maximize profits. For those who are already charitably inclined, business exit planning using charitable strategies allows them to add a fifth goal: doing good things for their favorite charity or their community. In this session we will explore some frequently used charitable planning tools, such as charitable remainder trusts and charitable lead trusts, and point out some common pitfalls, including prearranged sales, unrelated business taxable income (UBTI) and self-dealing.

CFRE: Approved for 1 point
CAP: Approved for 1 PACE credit
CFP: Approved for 1 hour