Advanced Form 709 Issues: GST Annual Exclusions and Allocations, Adequate Disclosure, and Sales to IDGTs

A live 110-minute CPE webinar with interactive Q&A

Thursday, February 27, 2020

1:00pm-2:50pm EST, 10:00am-11:50am PST

Early Registration Discount Deadline, Friday, January 31, 2020

or call 1-800-926-7926

This webinar will cover complex issues surrounding gifting, including generation-skipping tax (GST) automatic allocations, GST annual exclusion rules for trusts, adequate disclosures, Crummey powers, and sales to grantor trusts.


Understanding the more complex aspects of gifts is critical for professionals preparing Forms 709, U.S. Gift (and Generation-Skipping Transfer) Tax Returns. Following through with proper reporting of gifts is essential to ensure the gift is complete, avoid future GST, and retain Crummey powers.

Often challenged by the IRS are transfers of closely held business interests and appreciating assets to trusts. Structured properly, a gift to an IDGT (intentionally defective grantor trust) can move assets out of an estate for transfer tax purposes. At the same time, the grantor retains power over the assets, requiring his payment of the tax liability and allowing the assets to grow unencumbered by tax obligations.

A GST prevents the "skipping" of inheritance taxes, transferring assets to grandchildren rather than children. The automatic allocation rules, which are challenging when applied to gifts to individuals, are even more complicated when applied to transfers to trusts. Knowing when to rely on the automatic GST allocations, as opposed to filing a gift tax return to allocate the exemption intentionally, is critical to avoid possible late allocations and unnecessary use of the exemption.

Finally, without adequate disclosure, a gift tax return is deemed not filed. There are times Form 709 should be filed to toll the statute. Other times a gift tax return may be inadequately filed, so the threshold of adequate disclosure is not met. Understanding when and how to disclose gifts when filing a gift tax return is a must for tax professionals preparing Forms 709.

Listen as our panel of experts explains complex issues relative to filing Form 709, including GST allocations, adequate disclosure, sales to IDGTs, Crummey letters, and more.



  1. Form 709, an overview
  2. GST
    1. Annual exclusions
    2. Automatic allocations
  3. Crummey powers
  4. Sales to grantor trusts
  5. Adequate disclosure
  6. Other considerations


The panel will review these and other important issues:

  • What constitutes adequate disclosure?
  • How to prepare Crummey letters
  • When to proactively allocate the GST exemption
  • When is the sale to a grantor trust a good strategy?


Allison, Gregory
Gregory L. Allison, JD, CPA/PFS, CFP®

Schneider Downs

Mr. Allison focuses on estate and succession planning for business owners, executives, and high-net-worth individuals....  |  Read More

LaSota, Melanie
Melanie M. LaSota, CPA, JD

Director of Estate and Trust Tax Services
Schneider Downs

Ms. LaSota specializes in estate and succession planning for owners and executives of closely held businesses, which...  |  Read More

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