- Seminar Details
- Speaker Bios
- Date and
Location Details
- Agenda
- Learning
Objectives,
Materials, etc. - CPE
Accreditation
Earn up to 8 hours CPE!
Seminar Details
In this one-day seminar, you will learn how to transfer assets from one generation to another within the unique constraints of farm succession planning. This seminar takes an in-depth look at topics such as entity types, considerations in choosing the proper business structure, equitable treatment of heirs not in the business, asset transfer strategies, and the use of trusts in succession planning. We will also cover post-mortem planning and planning for the potential of requiring long-term health care.
Topics include:
- Entity comparisons, including corporations, partnerships, LLCs and LLPs
- Considerations when choosing a business structure
- Equitable treatment of heirs who are not in the business
- Asset transfer strategies
- Use of trusts in succession planning
- Post-mortem planning
- Planning for the potential of using long-term health care
About our Speakers
Roger McEowen, JD, is the Leonard Dolezal Professor in Agricultural Law at Iowa State University in Ames, Iowa, where he is also the Director of the ISU Center for Agricultural Law and Taxation. He develops and conducts an educational program in agricultural law and policy and is responsible for developing the curriculum and instructional program for the Iowa Farm Income Tax Schools. Professor McEowen conducts approximately 80–100 seminars annually across the United States for farmers, agricultural business professionals, lawyers, and other tax professionals.
Rich Walden, CPA, has served as chapter author and reviewer of the University of Illinois Federal Tax Workbook, and has been an instructor with the Illinois Tax Schools and Agricultural Issues Seminars since 1982. A graduate of Blackburn College, Rich was employed by the IRS as a revenue agent for 6.5 years. He owns a private practice in Carlinville, IL and serves in various board member roles for several banks, a software company and a community hospital.
Date and Locations Details
October 1, 2012: Champaign
I Hotel and Conference Center
1900 S. First St.
Champaign, IL 61820
(217) 819-5000
I Hotel Website
Seminar Agenda
Learning Objectives, Materials, etc.
Learning Objectives: By attending this seminar, you will be able to:
- Compare and contrast various farm entity types
- Review considerations when choosing a business structure for the farm
- Discuss strategies for equitable treatment of heirs not in the farming business
- Identify asset transfer strategies
- Review the use of trusts in farm succession planning
- Explain post-mortem planning strategies
- Evaluate potential long-term care planning needs
Materials: To come...
CPE Credits: Up to 8 CPE credits, based on the length of your attendance.
Delivery Method: Group-Live Presentation
Program Level: Intermediate
Field of Study: Taxes
Prerequisite(s): Experience preparing tax returns and familiarity with farm estate and business planning.
Advanced Preparation: None
CPE Accreditation
The University of Illinois Tax School is a sponsor of CPE for a variety of professional designations such as CPAs, EAs, CFPs®, attorneys, and insurance, etc. Agencies that typically recognize the University of Illinois Tax School as a sponsor of continuing education are:
- Certified Financial Planner Board of Standards
- Illinois Department of Insurance
- Illinois Department of Professional Regulation
- Internal Revenue Service
- Iowa Supreme Court Commission on Continuing Legal Education
- Missouri Bar Association
- MCLE Board of the Supreme Court of Illinois
University of Illinois Tax School (formerly Univ. of IL at Urbana-Champaign) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be addressed to the National Registry of CPE Sponsors through its website: www.learningmarket.org.
The Tax School has been approved as an IRS Continuing Education Provider. Tax preparers should always look for IRS approved providers when fulfilling their continuing education requirements.
Visit www.irs.gov/taxpros/ce for more information.
Participants are awarded credit based upon actual hours in attendance. Most accrediting groups recognize 1 hour of credit per 50 minutes of instruction. Some CLE groups recognize 1 hour of credit per 60 minutes of instruction.
Certificates of attendance are issued to participants after seminars conclude. In most cases, certificates are emailed after the conclusion of all seminars.
For EAs, Illinois Insurance professionals and CFPs®, the Tax School Office submits participant credit hours directly to the accrediting agencies.
An additional fee is required for processing CPE credits for IL insurance, CFP®, and IL MCLE.
See Frequently Asked Questions about CPE.
Certified Financial Planner Board of Standards Inc. owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™ and federally registered CFP (with flame design) in the U.S., which it awards to individuals who successfully complete CFP Board's initial and ongoing certification requirements.
Modified: September 21, 2012