Sell? Buy? Give? Considerations for a Family Enterprise Transition

Join PwC's Claudio DeVellis, Tax Partner, Personal Financial Services, Irene Estrada, Tax Managing Director, and David Shaw, Publishing Director, Family Business Magazine, as they discuss the critical issues surrounding a family enterprise transition.

 

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Economic change and the COVID-19 pandemic have created a moment ripe with opportunities for private companies looking to grow or transition. According to PwC’s 2021 Family Business Survey, 56% of U.S. family businesses expect to prioritize issues related to diversification and expansion in the next five years, closely followed by innovation/digitalization and evolution/new thinking. Market trends such as the SPAC boom and the continuous flow of investment into private markets will continue to fuel opportunities for some time. When considering a family enterprise transition, an appropriate strategy should blend personal and financial objectives as well as tax considerations into a comprehensive business plan to preserve family wealth.

This webinar will discuss:

  • Examining a business transition from both buyer and seller perspectives, including considerations such as structure, cash flow, and modeling out philanthropic interests
  • Deferral techniques, like the opportunity zone and QSBS, in anticipation of tax increases
  • A look at various types of trusts, including defective grantor trusts, GRATs, charitable split interest trusts

 


Speakers

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Claudio DeVellis

Tax Partner, Personal Financial Services, PwC

Claudio DeVellis is a Tax Partner in the Personal Financial Services (PFS) practice in PwC’s New York City office. Claudio advises high net worth individuals, families and business owners on all aspects of their income tax, estate, gift and generation-skipping transfer tax planning, structuring tax-efficient business succession plans, as well as counseling clients on the income, estate and gift tax treatment of charitable giving.  He has extensive experience preparing individual, fiduciary and charitable trust income tax returns as well as preparing estate and gift tax returns and fiduciary accountings.  He has represented individuals before the Internal Revenue Service and the New York State Department of Taxation and Finance on various tax matters.

Claudio provides a wide range of business and tax planning services to closely held business owners, including tax advice on entity formation and business succession planning. He has worked extensively with private equity and hedge fund managers, advising them on their personal tax compliance, income and estate tax planning with their carried interests, as well as helping structure their charitable giving.  He also advises many multinational fund managers and closely held business owners with inbound and outbound income tax and estate tax planning strategies.

Claudio serves as the tax leader for several private equity fund managers. He also currently serves several other privately owned companies in the consumer goods, transportation, real estate and service industries.    

Claudio holds a BBA from Hofstra University where he majored in accounting.  He also earned his J.D. from Brooklyn law school.  He is licensed in New York both as a CPA and as a lawyer.  Claudio began his career with a regional accounting firm based out of New York City where he practiced as a CPA for seven years.  He then practiced law for 21 years with various law firms in New York City before returning to PwC in 2018.

 

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Irene C. Estrada

Tax Managing Director, PwC

Irene is a Tax Managing Director who serves as a national resource to our Private Company Services practice, specializing in estate, gift, and trust issues for high net worth individuals. Irene has twenty plus years of experience advising clients on planning and compliance matters involving estate and gift tax, generation-skipping transfer tax, fiduciary income tax, and family business succession as well as international estate and gift issues, and pre-immigration tax planning. 

Before joining PwC, Irene was a managing director with KPMG’s national tax office focusing on estate, gift and trust matters.  She was also previously a vice president and senior wealth planner with PNC Wealth Management, where she provided advice on complex estate and other wealth planning issues.  Irene started her career as a trusts and estates attorney at Covington & Burling. Irene is a member of the AICPA’s trust technical resource panel and section 199A task force and frequently is involved in comment letters to the IRS and Treasury.

 

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David Shaw

Publishing Director, Family Business Magazine

David Shaw is the publishing director of Family Business Magazine and its sister publication, Directors & Boards. With more than 30 years of experience in business-to-business and consumer media markets, he has served as an editor, publisher, publishing director, group publisher and group vice president of a variety of publications, trade shows, conferences and websites.

Prior to founding GRID Media, David served as senior vice president for Phillips Business Information Inc., where he oversaw nearly 100 discrete media properties, and helped build the business from $35 million to more than $100 million in annual revenues. He is a frequent author and speaker on issues related to business-to-business media, multi-generational family businesses and private and public company governance. He is married, with two grown children, one serving in the Navy and the other in law school.

 

Benefits

• No cost to attend 

• Opportunity for questions and feedback

• Unbiased third-party family business education 

• All participants can receive a copy of the webinar materials after the event, upon request

• All participants receive Family Business Magazine weekly newsletter, with news, tips and trends that impact your family business. You may, of course, opt out at any time.

• 60 minutes -- maximum value for time

 


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