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Estate Planning for Cannabis Business Owners

  • Accountant
  • CFP (US)
  • CPA (US)
  • CVA
  • CFA
  • CPA/PFS
  • TEP
  • ChFC
  • CSA
  • FSCP
  • CASL
  • ChSNC
  • RICP
  • WMCP
  • CIPM
  • CBA/MCBA
  • CFIRS
  • CWS

Published: June, 2022

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Before starting this self study program, please go through the instructional document.

  • Course Description
  • Course Qualification
  • Presenter
  • FAQ

Course Description

Overview

  • Estate planning needs of Cannabis entrepreneurs
    8 mins
  • Is your client fully licensed in the state?
    11 mins
  • Catastrophic planning
    24 mins
  • Revocable trust
    34 mins
  • Make a plan and then re-visit it annually
    41 mins

Course Description

The legal cannabis industry is one of the fastest-growing industries in the world. As more states legalize cannabis sales, estate planners may increasingly be called upon to advise clients with interests in cannabis-related businesses.

This CPE webinar provides an overview of some of the fundamental issues about which cannabis business owners are likely to seek estate planning advice: business formation matters, wealth transfers, the ability of trusts to own cannabis-related businesses, and gift, estate, and income tax considerations.

In most states that permit legal cannabis sales, there is limited guidance to provide answers to many basic questions about wealth transfers involving cannabis businesses. At the federal level, while there is a clear prohibition on income tax deductions by cannabis businesses, the gift and estate tax rules are entirely silent on the most basic matters.

Speaker Paula Collins will discuss this introductory information, forward-thinking estate planners may be better equipped to advise clients about how much is still unknown about the legal landscape for cannabis business owners and to follow future developments in this burgeoning area of law.

Wherever you are in your career in the Cannabis Business, this CPE Finance webinar will give you the tools and knowledge to make the choices necessary to have a successful financial future. 

Learning Objectives

  • To discuss that Cannabis Business Owners need estate planning as much or more than regular business owners.
  • To consider estate planning for cannabis business owners through the perspectives of insurance, savings, traditional retirement planning tools, and trusts (revocable and irrevocable).
  • To explain some of the socio/cultural and banking considerations that make estate planning for cannabis business owners, especially tricky. 
  • To review that estate planning is not so much about planning for death, but also about planning for incapacity.

Recommended For

  • This Online CPE webinar is recommended for CPA, CVA, CBA/MCBA, CFA, CIPM, ChFCA, CASL, ChSNC, RICP, WMCP, FSCP, CFIRS, CWS, PFS, TEP, CSA, Finance professionals, Business owners, and other Financial professionals who want to learn about Estate Planning for Cannabis Business Owners.

Who Should Attend?

  • Certificate in Investment Performance Management
  • Certified Public Accountant (CPA)
  • Certified Valuation Analysts
  • Chartered Financial Analyst
  • CPA (Industry)
  • CPA - Large Firm
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • CPA in Business
  • Entrepreneurial CPA
  • Finance Pros
  • Financial Analyst
  • Young CPA

Course Qualification

Webinar Qualifies For

  • 1 General Credit of Finance for Accountant/Bookkeeper/Tax Professionals
  • 1 CPE Credit of Finance for Certified Public Accountants (CPA-US)
  • 1 CPE Credit of Finance for Certified Valuation Analyst (CVA)
  • 1 PL Credit of Estate Planning for Chartered Financial Analyst (CFA)
  • 1 CPD Credit of Estate Planning for Personal Financial Specialist (PFS)
  • 1 CPD Credit for Trust and Estate Practitioners (TEP)
  • 1 CPE Credit of Estate Planning for Chartered Financial Consultant (ChFC)
  • 1 CE Credit of Financial aspects of estate and retirement planning for Certified Senior Advisor (CSA)
  • 1 CPE Credit of Estate Planning for Financial Services Certified Professional (FSCP)
  • 1 CPE Credit of Estate Planning for Chartered Advisor in Senior Living (CASL)
  • 1 CPE Credit of Estate Planning for Chartered Special Needs Consultant (ChSNC)
  • 1 CPE Credit of Estate Planning for Retirement Income Certified Professional (RICP)
  • 1 CPE Credit of Estate Planning for Wealth Management Certified Professional (WMCP)
  • 1 PL Credit of Estate Planning for Certificate In Investment Performance Measurement (CIPM)
  • 1 CPE Credit of Finance for Certified Business Appraiser/Master Certified Business Appraiser (CBA/MCBA)
  • 1 CE Credit for Certified Fiduciary & Investment Risk Specialist (CFIRS)
  • 1 CE Credit for Certified Wealth Strategist (CWS)
  • 1 CE Credit of Estate Planning for Certified Financial Planner (US) (Approval No. 308966)

Additional details

  • Course Level :
    Basic
  • Credits :
    1
  • Instructional Method :
    QAS Self Study
  • Pre-requisites :
    None
  • Advance Preparation :
    None

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MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.

Presenter

About Presenter

Paula Collins

Owner, Law Office of Paula Collins, PLLC

I take a personal interest in my clients and specialize in helping them find solutions to all of their business and individual needs. This means that my clients trust me on a wide range of legal and financial issues that affect their daily lives.

After an early career as a professional pianist, I began to do Tax Preparation for myself and my fellow musicians. This experience is one component of my ongoing practice of providing legal representation to individuals in contracts. I also saw the necessity of protecting assets through Wills, Trusts, and Estate Planning.

In addition to my tax and legal expertise, I have ten years of experience as a Special Education Teacher with NYC Teaching Fellows. Because of this, I have seen firsthand the importance of providing legal representation for those with special needs. The problems faced by these individuals are not abstract concepts to me.

I am a graduate of Brooklyn Law School with a Certificate in Intellectual Property, Media, and Information Law. While in law school, I won the Center for Urban Business Entrepreneurship (CUBE) competition for  an app design to help Indie Filmmakers in developing contracts. Additionally, I won Regional Law School Mediation competition. This award alone is indicative of my ability to find solutions.

Faq

FAQs content

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Ratings and Review

4.7

24 Ratings

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7

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CA

Christine Andrews, CPA (US)

Jun 21st, 2022

interesting