A pre-recorded streaming VIDEO replay of one session from the June 2021 webcast seminar, 72nd Annual Virginia Conference on Federal Taxation.
This presentation discusses some of the ethical issues that can arise in the context of representing business owners and their families in their estate and succession planning, including initial considerations when undertaking the engagement of a business owner and the potential conflicts and confidentiality issues when that engagement expands to include other family members. Using hypotheticals, the speaker explores ethical concerns regarding the role of the attorney as the advisor for the primary owner, the business, and successor generations, as well as the attorney’s role as a fiduciary for one or more of these clients, and how some of these concerns can be anticipated and addressed through the engagement letter with the client.