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How to Navigate Succession Planning after the 99.5 and STEP Acts

HOW TO NAVIGATE SUCCESSION PLANNING AFTER THE 99.5 AND STEP ACTS

Cost Free
Presentation Length 1.0 hour

Recorded DateApril 5, 2021
CPE:Not available
(archived webinars do not offer CPE credits)
Subject AreaTaxes
Course LevelBasic
Course Description

This course will review the key provisions of the 99.5 and STEP Acts as well as discuss other potential impacts on estate and gift tax law being debated by Congress and the Biden Administration.

The focus will be on what actions clients should consider today in light of the still-favorable interest rate market but with an eye to the possibility that one or more of the provisions in these new proposals becomes law retroactive to January 1, 2021.

Learning Objectives:


  • Outline new estate and gift tax legislation recently introduced in the U.S. Senate

  • Identify the scope of proposed estate and gift tax legislation and its potential impact on succession planning

  • List best practices and tips to navigate clients through the remainder of 2021

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PLEASE NOTE: ARCHIVED WEBINARS DO NOT QUALIFY FOR CPE
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Kelley is a partner in Reed Smith's Tax Group. Significant aspects of her practice involve complex federal tax controversies, state and federal tax issues involving closely held entities, state tax planning, and litigation and tax planning issues involving e-commerce, cloud computing, and state nexus. Kelley has extensive experience working with tax-exempt organizations, including structuring joint ventures between tax-exempt and for-profit entities. She regularly advises clients on federal and state tax planning opportunities. She has experience representing clients in civil and criminal tax matters before state tribunals and administrative agencies, state courts, and federal courts. Kelley routinely represents clients before the Internal Revenue Service. She has written and spoken widely on numerous federal and state tax topics for clients representing a broad spectrum of industries, including exempt organizations.

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Jim is a partner in the firm's Executive Compensation, Private Client, and Tax Group. He counsels clients on federal taxation matters, emphasizing estate planning and developing strategies for succession in the management and ownership of closely held businesses. Nationally recognized for his sophisticated wealth preservation practice, Jim has one of the largest wealth preservation practices in the mid-Atlantic region. He also handles real estate and corporate transactions and advises clients regarding their financial and tax implications.

About Our Presenter

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Reed Smith is a dynamic international law firm dedicated to helping clients move their businesses forward. With an inclusive culture and innovative mindset, they deliver smarter, more creative legal services that drive better outcomes for their clients. Their deep industry knowledge, long-standing relationships and collaborative structure make us the go-to partner for complex disputes, transactions, and regulatory matters. Now celebrating more than 140 years of service, their firm spans 30 offices with 3,000 people, including 1,700 lawyers.