Key Takeaways from the 48th Annual Estate Planning Seminar for Professionals
The 48th Annual Estate Planning Seminar for Professionals, the premier estate planning conference in the Richmond region, took place on February 18, 2025. This event brought together top professionals, including Asif Charania, Christopher McCarthy, Susanna Brailsford Jones, John Lewis, David De Jong, Sarah Brownlow, and Meghan G. Hubbard, to discuss critical tax and estate planning developments and provide practical insights into the evolving landscape of valuation, taxation, and compliance.
Asif Charania, CPA/ABV/CFF, ASA, Keiter Valuation and Forensic Services Partner and Practice Leader, led an engaging session on Valuation and Other Tax Matters. His presentation covered the latest in qualified business appraisals, tax law updates, and valuation methodologies, equipping attendees with essential knowledge for navigating estate planning complexities.
Key insights shared
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Tax Law Updates & TCJA Implications
With the Tax Cuts and Jobs Act (TCJA) exemptions set to expire in 2026, estate planners face a critical window for strategic tax planning. Charania’s presentation detailed the potential reduction of estate and gift tax exemptions, the importance of leveraging gifting strategies, and the implications of anti-clawback provisions for high-net-worth individuals.
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Business Valuation Methodologies
The session highlighted Revenue Ruling 59-60, emphasizing fair market value principles for closely held businesses. Attendees gained insight into valuation methodologies, including the income, market, and asset-based approaches.
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Valuation Discounts & Common Red Flags
Charania also discussed key factors in determining discounts for lack of control and marketability, crucial in estate planning for closely held businesses. Additionally, he outlined red flags in appraisal reports, such as aggressive discounting and non-compliance with professional valuation standards.
As estate planning continues to evolve, Keiter remains committed to providing expert guidance on valuation and tax matters. To learn more, Contact us | 804.747.0000.
The information contained within this article is provided for informational purposes only and is current as of the date published. Online readers are advised not to act upon this information without seeking the service of a professional accountant, as this article is not a substitute for obtaining accounting, tax, or financial advice from a professional accountant.
