Josh Shilts interviews estate and tax attorney, Bo Trudeau, about formula transfer clauses for estate and gift tax planning. They discuss how these clauses can help reduce tax risk for transfers of hard-to-value assets, review key cases such as Wandry and Procter, and clarify the differences between the various types of formula transfer clauses. The episode highlights the importance of establishing intent, consistent documentation, and timely valuations, and also provides specific strategies to bolster formula transfers against challenges from the IRS.
Key takeaways include:
Continue reading to learn about key resources available at AICPA-CIMA.com to improve your valuation analyses.
Guest: Robert H. "Bo" Trudeau, JD, LLM, Purcell, Flanagan, Hay & Greene, P.A.
Host: Josh Shilts, CPA/ABV/CFF/CGMA, Forensic & Valuation Services Director, Dean Dorton
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RESOURCES FOR FURTHER EXPLORATION
If you're using a podcast app that does not hyperlink to the resources, please visit our podcast platform to access the show notes with direct links.
VS Section 100 Toolkit
This toolkit is designed to provide non-authoritative guidance on the development of valuation or calculation engagements in accordance with VS Section 100.
Statement on Standards for Valuation Services ("VS Section 100" or "SSVS"), Valuation of a Business, Business Ownership Interest, Security, or Intangible Asset
FVS Section Benefit - FVS estate and gift toolkit Stay up to date on the latest FVS estate and gift guidance. This toolkit will serve as an invaluable resource to keep you up to date on the latest guidance.
The FVS Valuation Podcast archives
LEARN MORE ABOUT THE FOLLOWING AICPA CREDENTIALS:
Accredited in Business Valuation (ABV®) – Visit the home page and check out the ABV infographic
Certified in the Valuation of Financial Instruments (CVFI®) – Visit the home page and check out the CVFI infographic
Certified in Financial Forensics (CFF®) - Visit the home page and check out the CFF infographic
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