Conversion of Business Entities into Limited Liability Companies

July 7, 2009
Format: Teleconference and Live Audio Webcast
Duration: 90 minutes

Sponsor: The American Bar Association Section of Real Property, Trust & Estate Law

The limited liability company has become the entity of choice in business and estate planning because it is the most flexible limited liability form of entity. Most estate planners, however, have numerous clients who operate as corporations taxed under subchapter C or subchapter S. Is it possible to convert corporations to limited liability companies to achieve a more flexible governance structure without triggering adverse tax consequences? This panel will explore the benefits of such a conversion and the road map to use to avoid a bad tax result. This presentation will:

• examine the tax aspects of limited liability companies
• compare them with C corporations and S corporations
• work through the process of converting to an LLC
• address concepts such as super majority voting restrictions and their durability
• examine asset protection issues and how LLCs fit into that analysis
• review what state and local tax issue may need to be considered
• provide a sample form operating agreement for an LLC
• address requisite IRS filings and the “check-the-box” regulations

Our Experts:

William S. Forsberg, Leonard, Street and Deinard, Minneapolis, MN

James D. Spratt, Jr., The Bowden Spratt Law Firm, Atlanda, GA

Douglas W. Stein, Smith, Gambrell & Russell, Atlanta, GA

1.5 hours of CLE credit in 60-minute states/1.8 hours of CLE credit in 50-minute states have been requested in states accrediting ABA teleconferences and live audio webcasts.*

NY-licensed attorneys: This non-transitional CLE program has been approved for experienced NY-licensed attorneys in accordance with the requirements of the New York State CLE Board for 1.5 total NY CLE credits.

The following states accept ABA teleconferences for CLE credit: AL, AK, AR, AZ, CA, CO, FL, GA, IA, ID, IL, KY, LA, ME, MN, MO, MS, MT, NC, ND, NH, NM, NV, NY, OK, OR, RI, SC, TN, TX, UT, VA, VI, VT, WA, WI, WV, WY.

*States currently not accrediting ABA teleconferences: DE, IN, PA, KS, OH.

Individual Online Registration

Group Online Registration

Registration by Fax or Mail
For Customer Service
800-285-2221
Event Code: RP9TCB

$85.00 Section of Real Property, Trust and Estate Law Members
$150.00 ABA Members
$150.00 Synergy Summit Members
$175.00 General Public
$60.00 Additional Registrants Who Use The Same Phone Line
Free Registration For Law Students

Group Rates Available

Pre-order the Audio CD. You can now pre-order through the ABA Web Store or call 800-282-2221. Refer to product code 5430501CD for the CD format.

Cancellations and requests for refunds will be honored on the following basis:

• 2 business days or more, 100% refund;
• 1 business day or less, 100% refund minus a $25 administrative fee.
• Substitute registrants must be registered through our office by calling Hillary Clark at 312/988-5683.

The Real Property, Trust and Estate Law Section produces two live CLE Conferences and numerous eCLE Teleconferences/Webcasts each year. Register for a CLE program today! All links to the programs will be ready for registration at least one week prior to the event.