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Corporate Transparency Act and Trusts

This webinar is part of the 2024 Year End Webinar Series

November 21 @ 4:00 pm 5:30 pm EST

Jonathan G. Blattmachr Esq., Alan S. Gassman Esq., Chriseanna Mitchell and Martin M. Shenkman Esq.
CTA

The Corporate Transparency Act (CTA) filing deadline for the CTA is end of year 2024 and there is limited time to address filings.

Under the CTA, information about the Beneficial Owners of certain ‘small’ entities must be provided to the Financial Crimes Enforcement Network (FinCEN) of the US Treasury Department. When a trust is an equity owner of a reporting company, it can create significant reporting requirements for individuals named as powerholders in the trust. Which positions in a trust rise to the level of being a Beneficial Owner are based on the particular facts and circumstances of each trust. While FinCEN updated their Beneficial Ownership Information Frequently Asked Questions on April 30th and provided additional guidance on trusts, that guidance is in many cases ambiguous and there are many unanswered questions that create a minefield of issues for both clients and practitioners to address.

This program will explore many of the implications, issues and open questions about how trust ownership of entities may affect CTA filings.


Continuing Education Credits

InterActive Legal is not an approved Continuing Education (CE) Sponsor. However, several states and regulatory agencies for a variety of professionals that participate on our teleconferences may still receive continuing education credit for their participation. If a participant wishes to receive CE credit for their participation in these teleconferences, they must apply to receive credit on their own and through their individual states and regulatory authorities. It is the responsibility of the participant to file for CE credit and is not guaranteed by the webinar sponsors.


Webinar Sponsors

InterActive Legal
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Mr. Blattmachr is a Principal in ILS Management, LLC and a retired member of Milbank Tweed Hadley & McCloy LLP in New York, NY and of the Alaska, California and New York Bars. He is recognized as one of the most creative trusts and estates lawyers in the country and is listed in The Best Lawyers in America. He has written and lectured extensively on estate and trust taxation and charitable giving.

Mr. Blattmachr graduated from Columbia University School of Law cum laude, where he was recognized as a Harlan Fiske Stone Scholar, and received his A.B. degree from Bucknell University, majoring in mathematics. He has served as a lecturer-in-law of the Columbia University School of Law and is an Adjunct Professor of Law at New York University Law School in its Masters in Tax Program (LLM). He is a former chairperson of the Trusts & Estates Law Section of the New York State Bar Association and of several committees of the American Bar Association. Mr. Blattmachr is a Fellow and a former Regent of the American College of Trust and Estate Counsel and past chair of its Estate and Gift Tax Committee. He is author or co-author of eight books and more than 500 articles on estate planning and tax topics.

Among professional activities, which are too numerous to list, Mr. Blattmachr has served as an Advisor on The American Law Institute, Restatement of the Law, Trusts 3rd; and as a Fellow of The New York Bar Foundation and a member of the American Bar Foundation.

Alan S. Gassman is the founder of the Clearwater, Florida law firm of Gassman, Crotty and Denicolo, P.A., which focuses on the representation of high net worth families, physicians and business owners, and their companies in estate planning, taxation, and business and personal asset structuring.

Mr. Gassman is the lead author on Bloomberg BNA’s Estate Tax Planning in 2011 and 2012, Gassman and Markham on Florida and Federal Asset Protection Law, Florida Law for Tax, Business & Financial Planning Advisors, Eight Steps to a Proper Florida Trust and Estate Plan, A Practical Guide to Kickback & Self-Referral Laws for Florida Physicians, The Florida Power of Attorney & Incapacity Planning Guide, The Florida Advisor’s Guide To Counseling Same Sex Couples, and a co-author of the recently published Legal Guide To NFA Firearms and Gun Trusts, among others.

Mr. Gassman is a frequent speaker for continuing education programs, and has published well over 200 peer reviewed articles with publications such as Bloomberg BNA Tax & Accounting, Trusts and Estates Magazine, Estate Planning Magazine, The Florida Bar Journal, and Leimberg Estate Planning Network (LISI).  He is also a past President of the Pinellas County Estate Planning Council and has co-chaired two annual Florida Bar programs for over fifteen years: Wealth Protection and Representing the Physician.

Mr. Gassman holds a law degree and a Masters of Law degree (LL.M.) in Taxation from the University of Florida, and a business degree from Rollins College.  Mr. Gassman is board certified by the Florida Bar Association in Estate Planning and Trust Law, has the Accredited Estate Planner designation from the National Association of Estate Planners & Council, has maintained an AV rating from the Martindale-Hubbell for over 20 years and is listed in both Best Lawyers in America and Florida Super Lawyers.

Chriseanna Mitchell is a student at Stetson University College of Law. She graduated from the University of Florida and is from Ocala, Florida. She is also a contributor for Leimberg Information Services Inc. and a co-author of “The Corporate Transparency Act Guide” along with Alan Gassman and Marty Shenkman. She is dedicated to serving her community and, with the help of the Suncoast Estate Planning Council, has followed her passion for promoting and educating others on effective estate planning practices in collaboration with other industry professionals.

Martin Shenkman

Martin M. Shenkman is an attorney in private practice in Fort Lee, NJ, and New York City.  His practice concentrates on estate and tax planning, planning for closely held business, and estate administration.  Mr. Shenkman is an author of over 42 books and more than 1,000 articles.  He is an editorial board member of Trusts & Estates Magazine and the Matrimonial Strategist, and an advisor for InterActive Legal.  He is the recipient of many awards including being a 2013 recipient of the prestigious Accredited Estate Planners (Distinguished) award from the National Association of Estate Planning Counsels.  Mr. Shenkman was named Financial Planning Magazine 2012 Pro-Bono Financial Planner of the Year for his efforts on behalf of those living with chronic illness and disability.  Investment Adviser Magazine featured him on the cover of its April 2013 issue naming as the lead of their “all-star lineup of tax experts.”

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