Estate Planning for Nontaxable Estates: Portability, Credit Shelter Trusts, Fiduciaries, Tax Elections
Recording of a 90-minute CLE/CPE video webinar with Q&A
This CLE/CPE course will guide estate planners and advisers through key planning techniques for nontaxable estates. The panel will discuss making portability elections, utilizing credit shelter trusts, basis planning for income taxes, administrative and fiduciary elections, disclaimers, gift tax elections, and other key considerations.
Outline
- Key planning issues for nontaxable estates
- Portability vs. credit shelter trusts
- Gift tax and other available elections
- Basis planning for income taxes
- Administrative and fiduciary considerations
Benefits
The panel will discuss these and other key issues:
- What are the key estate planning areas of focus for modest estates?
- When should you make a portability election and what issues can arise?
- How can you build flexibility into documents to allow for stepped up basis for income taxes at beneficiary’s passing?
- What are credit shelter trusts and are there any circumstances where they are preferred over portability?
- What administrative and fiduciary elections and filing options are available for decedent's final income tax return?
- How can conversions, life insurance planning, and lifetime gifting be used for optimum planning for estate owners?
- What other planning techniques should counsel consider for nontaxable estates?
Faculty
Charles J. Allen
Partner
Edmondson Sage Allen
Mr. Allen focuses his practice on estate planning, income tax planning, business planning, and probate and estate... | Read More
Mr. Allen focuses his practice on estate planning, income tax planning, business planning, and probate and estate administration. He counsels clients on the design and implementation of tax efficient estate and business plans, and represents executors in all phases of estate administration, including probate administration, preparation of federal estate tax returns, and the settlement of the estate. Specifically, Mr. Allen works with his clients to ensure their goals are met with regard to the disposition of their estate while also maximizing the use of credits and exemptions from federal estate and gift taxes and planning for income taxes. He has extensive experience advising, drafting, and administering trusts, as well as in the charitable and non-profit arena. Mr. Allen also represents clients with respect to the establishment, operation, taxation, re-organization and restructuring, business succession, and tax reporting requirements of their business as well as advises on business related transactions including the disposition of a business.
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S. Gray Edmondson
Partner
Edmondson Sage Allen
Mr. Edmondson practices in partnership, corporate, and individual tax planning; business transactions, including... | Read More
Mr. Edmondson practices in partnership, corporate, and individual tax planning; business transactions, including mergers and acquisitions; business planning; tax controversy; estate and wealth transfer planning; probate; estate and trust litigation; asset protection; and charitable planning. He has conducted, authored, and directed numerous seminars for professional, academic, and civic groups on taxation, business, asset protection and estate planning.
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