Minimizing Tax on Trust Transfers Through Basis Adjustment

Estate Asset Basis Management: Trust Transfers, Credit Shelter Trusts, and Post Mortem Actions

Recording of a 90-minute CLE/CPE webinar with Q&A


Conducted on Wednesday, June 20, 2018

Recorded event now available

or call 1-800-926-7926
Program Materials

This CLE/CPE webinar will provide estate planning counsel and fiduciary advisers with an advanced practical guide to basis adjustment techniques and strategies to minimize income tax on estate and trust assets. Estate planning authority James G. Blase will discuss advanced strategies for achieving income tax basis step-ups under various client scenarios including spousal and non-spousal trust beneficiaries.

Description

The significant increase in the federal estate tax exemption amount passed as part of the 2017 tax reform law emphasizes the need for estate planners to minimize income taxes for beneficiaries on assets passed through inheritances and trusts. As fewer estates are subject to estate or gift tax, planners and fiduciary advisers must focus on managing tax basis to minimize the tax cost of transferring assets to beneficiaries.

Topics which will be discussed include:

  • Achieving income tax basis step-up for credit shelter trusts in a spousal portability election environment.
  • Achieving income tax basis step-up at a non-spouse trust beneficiary’s death.
  • Using trusts to achieve income tax basis step-up at the death of the first spouse.
  • Transferring assets in trust for an ancestor or spouse, in order to achieve income tax basis step-up at the ancestor’s or spouse’s death.
  • Trustee decanting, trust protector, or court action to achieve income tax basis step-up.

Please join James G. Blase, Principal at Blase & Associates and Adjunct Professor at the Villanova University School of Law Graduate Tax Program. In this webinar, Professor Blase shares the views he expresses in his graduate course on Income Taxation of Trusts and Estates, as well as in his book, Optimum Estate Planning.

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Outline

  1. Identifying low basis assets subject to potential income tax consequences
  2. Impact of tax reform on spousal portability planning
  3. Transfer strategies
  4. Post-mortem tools for achieving income tax basis step up
  5. Potential tax risks of basis adjustment strategies

Benefits

Professor Blase will review these and other important topics:

  • Which class of assets benefit from basis adjustment transactions?
  • Using trust decanting and other post-mortem actions to achieve basis step-up
  • Structuring sale and exchange transactions between trusts to maximize tax basis
  • Tax and other risks involved in basis adjustment transactions and strategies

Faculty

Blase, James
James G. Blase, CPA, JD, LLM

Principal
Blase & Associates

Mr. Blase's practice focuses on tax, estate and business succession planning, including preparation of...  |  Read More

Other Formats
— Anytime, Anywhere

Strafford will process CLE credit for one person on each recording. All formats include program handouts. To find out which recorded format will provide the best CLE option, select your state:

CLE On-Demand Video

$297

Download

CPE Not Available

$297