10th Annual Closely Held Business Update 2025

  • OnDemand seminar
  • Attorney Regulation
  • Business Law
Up to 6.5 Credit Hours
View schedule and faculty
10th Annual Closely Held Business Update 2025

Trusty solutions for closely held businesses

When legal issues arise at the intersection of family, business, and fiduciary duty, you need a versatile repertoire of strategies to resolve them. The 10th Annual Closely Held Business Update focuses squarely on the role of trusts in safeguarding business continuity, navigating complex family dynamics, and protecting both people and property.

Whether you advise family-run businesses, structure shareholder agreements, or draft trusts, this full-day program gives you fresh insights from attorneys on the front lines of corporate governance, estate planning, family law, and ethics. From Delaware corporate law updates to recent Wisconsin decisions on non-competes and mediation, you’ll explore real-world scenarios that impact your clients and your practice.

8:30 am
Updates & New Developments

Gregory Monday

  • Recent Wisconsin cases on contracts (including non-competes and mediation)
  • Recent Delaware decisions on corporate governance
  • Recent changes to the Delaware General Corporation Law
9:20 am
Trust Administration for Trusts with Closely-Held Business Assets

Matthew Ackmann, Tammy K. Parks

  • Considerations when accepting a trust for administration
    • Corporate trustees
    • Noncorporate trustees
  • Structural considerations – and best practices for successful succession planning
  • Trustee Duties
  • Administration After Death of Key Person
  • Preventing Trouble and Ensuring Compliance
10:10 am
Break
10:25 am
Non-Tax Reasons to Use a Trust

Maureen Lokrantz, Tammy K. Parks

  • Non-Tax Benefits of Using Trusts
  • Non-Tax Disadvantages of Using Trusts
  • Why Use a Corporate Trustee - Advantages and Disadvantages
  • Options when Using a Corporate Trustee - Directed Trustee amd Trust Protectors
  • Trust Provisions needed for Trust Companies to Act
  • How Trust Administration Really Works
11:15 am
Purpose Trusts and Entities and Family Enterprises

Mark A. Shiller

12:05 pm
Lunch
1:05 pm
Panel: Divorce Divisions in SLATs

Moderator: Julie M. Bogle Panelists: Linda S. Balisle, Kelly Dancy, Jeffrey Goldman, Mark A. Shiller

  • What to do when you don’t have a reciprocal SLAT, but then have a divorce and the spouse is not the beneficiary?
  • Is there enough to support two households?
  • Need to look at the divorce provisions
  • Family lawyer and divorce lawyer perspectives
  • If you do one SLAT, is that counted as property division?
  • Post-nuptial agreements?
2:20 pm
Break
2:35 pm
Interactive Ethics

Gregory Monday, David G. Palay, Timothy J. Pierce

  • Ethical traps in reciprocal SLATs holding family business stock
  • Attorneys serving as trustees, when trusts hold family business stock
  • When your G1 clients tell you not to tell your G2 clients
3:25 pm
Program Concludes

Program Chairs and Presenters

Julie M. Bogle (Retired)
BDO USA LLP · Madison
Gregory Monday
Reinhart Boerner Van Deuren, S.C. · Madison

Presenters

7 total
Linda S. Balisle
Balisle Family Law Legal Counsel S.C. · Madison
Kelly Dancy
Walny Legal Group LLC · Milwaukee
Jeffrey Goldman
DeWitt LLP · Madison
Maureen Lokrantz (Retired)
U.S. Bank Private Wealth · Madison
Tammy K. Parks (Retired)
Wealth Enhancement Trust Services, LLC · Madison
Timothy J. Pierce
State Bar of Wisconsin · Madison
Mark A. Shiller
Certus Legal Group Ltd · Milwaukee

  • Gain tools to protect beneficiaries, businesses, and family relationships
  • Review trustee duties and structural considerations for trusts holding closely held business assets
  • Discover when and why trusts are helpful for more than just tax planning
  • Troubleshoot special issues surrounding divorce divisions in Spousal Lifetime Access Trusts (SLATs)
  • Receive practical guidance on ethics questions common to closely held businesses
  • Business lawyers
  • Labor and employment lawyers
  • Estate planning lawyers
  • Family lawyers
  • Solo and small firm practitioners
  • General practitioners

Book Bonus!

Organizing a Wisconsin Business Corporation
Save 15% on Organizing a Wisconsin Business Corporation.* Guide your clients through incorporation with this step-by-step resource packed with essential forms and practical guidance on forming and operating a Wisconsin corporation. Use discount code CA3807 when you order online or by calling (800) 728-7788.

*Discount applies to both print and digital Books Unbound editions of this title and cannot be applied to previous purchases. Offer valid through 12/31/26. For Books Unbound users, discount may be applied to purchase of individual Books Unbound title only and may not be used on the purchase of libraries. Discount cannot be combined with any other offers.

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