Estate Planning During COVID-19: CARES Act Relief, Key Issues and Planning Opportunities for Trusts and Estates

Alternate Valuation for Estate Assets, Lifetime Gifts, Reducing Tax Liability, Trust Modifications, Promissory Notes

Note: CPE credit is not offered on this program

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


Conducted on Tuesday, June 9, 2020

Recorded event now available

or call 1-800-926-7926
Program Materials

This CLE webinar will guide trusts and estates counsel on critical estate planning challenges and opportunities in light of the coronavirus (COVID-19) pandemic. The panel will discuss key provisions of the CARES Act, potential opportunities as a result of the decline in asset values, tax planning strategies, gifting, intra-family transactions, promissory notes, and other items to consider in creating or reexamining estate plans amid COVID-19 and the CARES Act.

Description

The spread of COVID-19 is creating unique estate planning and legal challenges. In addition, trusts and estates counsel must consider the decline in the financial markets, values of estate assets, and tax planning options when creating or reexamining estate plans to take advantage of planning opportunities in light of COVID-19.

The current state of the economy provides an opportune time to implement certain estate and tax planning techniques. Historically low interest rates make the use of GRATs, CLATs, and promissory notes more effective. Furthermore, low interest rates and reduced asset values coupled with high gift, estate, and generation-skipping transfer tax exemption levels, can result in significant tax savings with the right structures in place.

The CARES Act provides some relief related to retirement plans and the deductibility of charitable contributions. Trusts and estates counsel must understand the application of these provisions to the circumstances and current estate planning needs of clients.

Listen as our panel discusses key estate and tax planning considerations in light of COVID-19 and the CARES Act and offers planning tactics for optimum tax savings.

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Outline

  1. Reexamining current estate plans in light of COVID-19
  2. Relief under the CARES Act
  3. Estate and tax planning opportunities
  4. Other issues and best practices for trusts and estates counsel

Benefits

The panel will review these and other key issues:

  • What are the primary considerations when creating or reexamining estate plans in light of COVID-19?
  • What challenges and opportunities are presented by the CARES Act?
  • What estate and tax planning techniques are available?
  • What are the legal challenges and pitfalls to avoid in creating or modifying estate plans in light of the coronavirus pandemic?

Faculty

Dillon, Brad
Brad Dillon
Executive Director
UBS

Mr. Dillon works with ultra-high net worth families, helping them achieve their tax, estate planning, and philanthropic...  |  Read More

Kamen, Shaina
Shaina S. Kamen

Senior Counsel
Holland & Knight

Ms. Kamen concentrates her practice on sophisticated trusts and estates matters for individuals and families. She...  |  Read More

Ro, Jinsoo
Jinsoo J. Ro
Director│Wealth Planner
Citi Private Bank

Mr. Ro helps clients navigate the complexities of legacy preservation and estate planning through the use of customized...  |  Read More

Other Formats
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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:

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