Wealth Planning & Closely-Held Entities - Exploring Available Options
Georgia Demeros & Steven Gorin
September 18, 2024
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This presentation will provide an overview of planning with LLCs and S corporations for family businesses and other closely held entities. The discussion will include (i) how planning is now affected with the recent U.S. Supreme Court decision in Connelly v. United States when using life insurance to fund purchases of interests at death, (ii) creating entities to hold interests in a single large family asset creating cash flow streams for its owners, (iii) and using partnership freezes as a planning tool.
Georgia Demeros
Georgia serves as an estate planning advisor and personal general counsel to closely-held businesses, business leaders and other individuals.
She draws on her unique background as a CPA to give businesses and individuals a holistic assessment of their assets, tax liabilities, estate planning and general corporate legal needs.
Closely held businesses have distinct estate planning needs, and Georgia regularly works with business owners to meet their estate planning and business objectives by reviewing and drafting operating and shareholder agreements, advising on insurance planning to fund owner buyouts, assisting in trust funding and advising in the structuring of the business.
Georgia advises multi-generational families on wealth transfer issues, such as estate planning, lifetime gifts and business succession planning and has led significant tax work and corporate restructuring for family-owned businesses across the Midwest. She also handles the administration of decedents' estates, and represents families in court proceedings to open probate estates, post-mortem estate tax planning, preparation and filing of estate tax returns and all other probate matters.
Georgia has received numerous awards and recognitions, including being named as one of Crain's Chicago Business 2020 Notable Women in Law, "Top Forty Lawyers Under 40 to Watch" in 2010 (by Law Bulletin Publishing Company) and listed in The Best Lawyers in America 2023-2024 (by BL Rankings) and Illinois Super Lawyers 2014-2024 (by Thomson Reuters).
Steven Gorin
Steve Gorin is a partner in Thompson Coburn LLP. In addition to helping clients of his firm, he helps lawyers throughout the country, providing specialized assistance so that they can do projects they might otherwise have been uncomfortable doing without him.
Before practicing law, Steve practiced accounting for 8 years and was a partner in a local CPA firm; he still maintains his CPA license and CGMA designation and actively participates in the Missouri Society of CPAs. For the American College of Trust & Estate Counsel, Steve chairs the Business Planning Committee starting 2024-2007 and is a past chair of the Employee Benefits Committee. He is a former chair of the Business Planning Group of Committees of the American Bar Association’s Real Property, Trust & Estate Law Section.
He is a member of NAEPC’s Estate Planning Hall of Fame and in 2021 was the first person named Distinguished Estate Planner by St. Louis’ Estate Planning Council. Best Lawyers has twice named Steve as Lawyer of the Year for St. Louis in each of Tax Law and Business Organizations (including LLCs, and Partnerships), in addition to recognizing him for Trusts & Estates and for Closely Held Companies and Family Business Law. CPA Academy has named him a “Top Presenter,” and cumulative attendance at his webinars since COVID began is over 100,000. For more about him, see http://thompsoncoburn.com/people/steve-gorin.
Steve’s “Structuring Ownership of Privately-Owned Businesses: Tax and Estate Planning Implications” is a several thousand page fully searchable PDF. To obtain the PDF and join the thousands who have decided to receive quarterly a link to the most recent version, both at no charge, go to http://www.thompsoncoburn.com/forms/gorin-newsletter.
Location:
- Maggiano's Little Italy Old Orchard - 4999 Old Orchard Shopping Ctr, Space #A28 Skokie, IL 60077
Rates:
- Season Pass Members: Free
- Regular Members and member's guests: $35 in advance, $40 at the door
- Non-members: $50
Agenda:
- 7:30 A.M. Networking
- 8:00 - 9:00 A.M. Presentation
- 9:15 A.M. Meeting Adjourns
