Wealth Preservation and Succession for the Family Enterprise 2023

Product Type: Course

This course has no current sessions.

DescriptionMore DetailAgenda

Estate planning and beyond

—Rebroadcasts—
On the rebroadcast date, you will have until midnight of that rebroadcast date to access the course. Please note that technical support will be available during regular CLEBC business hours.

Last Kick at the Can Series 2023
Wednesday, December 13, 2023
Thursday, December 21, 2023

(Original Course Date: June 7, 2023)

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Who should attend: Lawyers practicing in the areas of wealth preservation, wills, estates, trusts, succession, and estate planning. This course may also be of interest to lawyers practicing in the area of corporate law and to accountants, family enterprise advisors, trust officers, and investment and financial advisors.

Learning level: Intermediate/Advanced

This course will look at the dynamics of a family enterprise and the inter-relationship between family, business/management, and owners.

We will discuss how best to guide and advise families as they plan for wealth preservation and inter-generational succession. Topics will include estate planning tools and techniques, tax planning, options for holding family assets, governance, strategic ownership options, and various agreements. We will also address recent developments in case law.

After taking this program, you will:

know how to use various estate planning tools and techniques
be aware of tax planning issues for family succession
gain information on joint tenancies
understand governance and strategic ownership options
gain knowledge of the intersection between family law and family enterprise wealth preservation
be up-to-date on case law developments and trends

Law Society of BC CPD Hours: 6 hours (this course will contain a minimum of 1 hour pertaining to professional responsibility and ethics, client care and relations, and/or practice management). Please note: The CPD hours of the rebroadcast will either meet or exceed the CPD hours of the original live webinar course.

Course Chair
Cheyenne J.H. Reese — Legacy Tax + Trust Lawyers, Vancouver

*Last Kick at the Can 2023*
Rebroadcast	$508
Rebroadcast Articled Student	$254

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CLEBC Program Lawyer*
Nadia Myerthall
nmyerthall@cle.bc.ca
*non-practising

Course Chair
Cheyenne J.H. Reese — Legacy Tax + Trust Lawyers, Vancouver

About the Course Chair
Cheyenne Reese is a principal of Legacy Tax + Trust Lawyers. She assists clients with estate and trust planning and tax matters. Cheyenne received her JD from the University of Victoria in 2005 and her Masters of Law degree in International Taxation from New York University in 2006. The primary part of Cheyenne's practice is related to US-Canada transactions, including estate, gift, and generation skipping tax issues. This includes estate planning for US citizens living in Canada, Canadians with US beneficiaries, Canadians purchasing or holding US real estate, and Americans purchasing or holding Canadian real estate. Cheyenne is a member of STEP and an ACTEC International Fellow.

Cheyenne was called to the BC bar in 2007 and has been with Legacy Tax + Trust Lawyers since that time.

Online Moderator
Jackie Leahy — Legacy Tax + Trust Lawyers, Vancouver

Faculty
Scott L. Booth, KC — Jenkins Marzban Logan LLP, Vancouver
Julia Y. Chung, CFP, CLU, FEA, TEP — Spring Planning, South Surrey
Peter J. Glowacki — Borden Ladner Gervais LLP, Vancouver
Aaron Pearl — Clark Wilson LLP, Vancouver
Rose Shawlee — Boughton Law Corporation, Vancouver
Ingrid M. Tsui — Alexander Holburn Beaudin + Lang LLP, Vancouver

Course Materials Contributors
Catherine Kim — Boughton Law Corporation, Vancouver
Amy A. Mortimore, KC — Clark Wilson LLP, Vancouver
Suzanne St. John Smith, MA (Comms), MA (Psych), CCC, FEA — Your Family Dynamics, West Vancouver
Christy Tang — Alexander Holburn Beaudin + Lang LLP, Vancouver

Click here for full faculty bios

Welcome and Land Acknowledgement (9:00 – 9:10)

Nadia Myerthall — Program Lawyer, CLEBC, Vancouver
Cheyenne J.H. Reese — Legacy Tax + Trust Lawyers, Vancouver

Estate Planning Tools and Techniques (9:10 – 10:05)

wills and multiple wills
other estate planning tools
alter ego/joint partner trusts
other inter vivos trust planning
planning for incapacity

Peter J. Glowacki — Borden Ladner Gervais LLP, Vancouver

Tax Planning for Family Succession—Freezes, Trusts, and Traps (10:05 – 11:00)

why plan (not just to pay the lawyer)
freezes for generational transfer
trusts in the freeze context (on freeze and sunset of 21 years)
shareholders' agreements
real property disclosures and taxes
potpourri of practice tips and traps: compliance, integration with other planning, and health checks

Rose Shawlee — Boughton Law Corporation, Vancouver

BREAK (11:00 – 11:15)

Joint Tenancies (11:15 – 12:10)

how to create a joint tenancy
new filing requirements affecting joint tenancies (including real property and trusts)
benefits of joint tenancies
risks and traps of joint tenancies

Ingrid M. Tsui — Alexander Holburn Beaudin + Lang LLP, Vancouver

NETWORKING LUNCH (provided) (12:10 – 1:10)

The Family Business—Governance and Strategic Advising for the Family Enterprise (1:10 – 2:00)

family businesses/family enterprise
strengths and challenges of the family enterprise
the three-circle model: taking a systems approach
understanding family dynamics of family business
family enterprise governance
governance structures for the family enterprise and its component systems—family, business, owners
family councils, shareholder forums, advisory boards, and other governance structures/mechanisms
role of strategic advisor to family enterprise clients; multi-disciplinary advising

Julia Y. Chung, CFP, CLU, FEA, TEP — Spring Planning, South Surrey

The Intersection Between Family Law and Family Enterprise Wealth Preservation (2:00 – 2:50)

the breakdown of spousal relationships and the resultant challenges for the family enterprise
- corporate interests
- trust interests
using domestic agreements to protect the family enterprise
shareholders agreements as a means of managing risk

Scott L. Booth, KC — Jenkins Marzban Logan LLP, Vancouver

BREAK (2:50 – 3:05)

Case Update and Litigation Highlights (3:05 – 3:55)

general update on estate and trust cases that may affect estate planning

Aaron Pearl — Clark Wilson LLP, Vancouver

Concluding Remarks (3:55 – 4:00)

Cheyenne J.H. Reese — Legacy Tax + Trust Lawyers, Vancouver

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Wealth Preservation and Succession for the Family Enterprise 2023

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