The Treasury Department has issued proposed regulations under Section 2704 of the Internal Revenue Code that may dramatically affect the valuation of certain family-controlled entities for estate, gift, and generation skipping transfer tax purposes. The Tax Law, Probate & Trust Law and Business Law Sections are hosting a two part CLE series on the proposed regulations that will provide an analysis of the proposed regulation, drafting considerations, and planning tips. This first CLE program will discuss the background of Chapter 14 and Section 2704 and the changes to the historical application of Section 2704 that appear to result if the proposed regulations are finalized, as well as provide commentary on the validity and application of the proposed regulations.

Co-Sponsored by the Tax Law, Probate & Trust Law and Business Law Sections.