ANCHORAGE ESTATE PLANNING COUNCIL

For decades, estate planners have relied on LLCs, limited partnerships, and corporations to limit liability, set the rules for administering family businesses, and transfer ownership interests from one generation to the next. The Corporate Transparency Act, which went into effect on January 1, 2024, creates a host of new reporting requirements for exactly the kinds of small businesses that most estate planners help clients establish.  These requirements can be complicated, and the consequences for noncompliance are dire.  Local attorney Chris Lauer will discuss what Corporate Transparency Act compliance requires and talk through strategies for helping clients accomplish their goals without creating unnecessary risk.