Post-Mortem Trust Planning, Modifications and Allocations: Tax Elections Available to the Executor
Modifying Trusts Post-Mortem to Minimize Income Tax, Utilize Deferral Opportunities, and Optimize Basis Adjustments
Recording of a 90-minute CLE/CPE webinar with Q&A
This CLE/CPE course will provide estate planning counsel with an advanced and practical guide to post-mortem planning, including trust modification and allocations. The panel will offer tools to help fiduciaries and trust administrators navigate post-mortem planning challenges and opportunities, including how to manage conflicting duties in administration of trusts. The program will also detail options for post-mortem trust modification, and discuss possible tax impacts of post-mortem modifications.
Outline
- Trust conversions and beneficiary designations
- Post-mortem tax deferral elections
- Six-month alternate valuation election
- Tax Deferral elections
- Trust modification opportunities and risks
Benefits
The panel will review these and other key topics:
- Turning a bypass trust into a grantor-type trust with the beneficiary as grantor
- Discounting the value of assets after death of the first spouse to die without adverse consequences
- Deferring tax using Section 6166, testamentary CLATs and “Graegin loans”
- Getting a full step-up on basis at both the first and the second death
- Unfunded trusts
- Income tax planning for partnerships after death
Faculty
Jonathan C. Lurie
Partner
Venable
Mr. Lurie focuses his practice on international and domestic tax, estate planning, and trust administration. He... | Read More
Mr. Lurie focuses his practice on international and domestic tax, estate planning, and trust administration. He practices in his Firm's Tax and Wealth Planning practice and is an American College of Trust and Estate Counsel Fellow. He has lectured on estate planning at Whittier School of Law and the University of West Los Angeles, and frequently speaks and writes on the subject. He also has served as an expert witness in several cases involving trust administration.
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Jeremiah W. (Jere) Doyle, IV
Senior Vice President
Bank of New York Mellon
Mr. Doyle provides clients with integrated wealth management advice on how to hold, manage and transfer their... | Read More
Mr. Doyle provides clients with integrated wealth management advice on how to hold, manage and transfer their wealth in a tax efficient manner. He is the editor and co-author of Preparing Fiduciary Income Tax Returns, a contributing author of Preparing Estate Tax Returns and Understanding and Using Trusts and a contributing author of Drafting Irrevocable Trusts in Massachusetts. He is a lecturer in law in the Graduate Tax Program at Boston University School of Law.
CloseJames I. Dougherty
Withers Bergman
Mr. Dougherty focuses on the estate planning and estate administration needs of high net worth individuals and... | Read More
Mr. Dougherty focuses on the estate planning and estate administration needs of high net worth individuals and their families. He assists executors and beneficiaries alike through all aspects of the estate administration process including probate, contested estates, tax, and post-mortem estate planning issues. He is a frequent author on topics related to his practice. Among his many written works, he co-authored a book, The Connecticut Probate and Estate Administration Practice Guide, published by LexisNexis. He also frequently speaks to national audiences on a wide range of topics within wealth planning, including estate administration, post-mortem estate planning, probate litigation, federal and state transfer tax planning, and international probate.
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