Massive Estate Planning Changes for 2016 and Beyond: Meeting New IRS Basis Consistency Requirements, IRC 2704 Discounting Regulations

Ensuring Current and Future Estate Plans and Trusts Withstand Stringent New IRS Rules and Regulations

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

This program is included with the Strafford CLE Pass. Click for more information.
This program is included with the Strafford CPE+ Pass. Click for more information.
This program is included with the Strafford All-Access Pass. Click for more information.

Conducted on Wednesday, November 9, 2016

Recorded event now available

or call 1-800-926-7926
Course Materials

This CLE/CPE course will provide estate planners with a recap of 2016 developments pertaining to estate planning, and will offer detailed suggestions on year-end considerations that planners should be aware of in reviewing existing estates and trusts. The panel will discuss the impact of several key events in estate planning law and practice and will review key IRS pronouncements, including the basis consistency reporting requirements and new rules governing discount valuations.


2016 represents a year of landmark changes to the tax landscape of estates and trusts. From the new basis consistency requirements to the IRS scrutiny on discounting of business interests, many aspects will have significant impact on existing and future wealth transfer vehicles. Estate planners must understand several key developments for conducting year-end reviews of estate plans and trust structures.

In addition to the ongoing review of trusts to ensure that asset composition, beneficiary identification and liquidity needs are current and meet the client’s needs and circumstances, estate planners should be examining the year’s developments to determine whether any IRS pronouncements materially affect their clients’ estate plans. The basis consistency reporting requirements in particular deserve a close look to ensure that clients haven’t mismatched the discounts they reported when placing an asset in trust with what beneficiaries are reporting on their tax returns.

Year-end reviews of estate plans and trust documents provide estate planners with opportunities to remedy mistakes in plans, as well as to modify and update terms that no longer fit client needs. A crucial part of this process must be to incorporate new developments to ensure they don’t result in less favorable income tax results.

Listen as our experienced panel provides a comprehensive guide to the key developments in estate and trust law in 2016.



  1. Key IRS pronouncements and events occurring in 2016
  2. Section 2704 guidance and IRS position on lapse in voting rights
  3. Other significant cases and rulings
  4. Year-end steps for estate planners


The panel will discuss these and other important topics:

  • Major IRS guidance and pronouncements affecting estate planners and their clients
  • New basis consistency requirements’ impact on trust assets and estate plan documents
  • Current developments in family partnerships and other family business structures
  • Other year-end steps should planners take to ensure their clients’ estate plans and trust documents are up to date and consistent with their current needs


Edwin P. Morrow, III, Esq.
Edwin P. Morrow, III, Esq.
Director, Wealth Transfer Planning and Tax Strategies
Key Private Bank Family Wealth Advisory Services

Mr. Morrow advises high net worth private banking clients on tax, trust and estate planning matters. He previously...  |  Read More

Access Anytime, Anywhere

Strafford will process CLE credit for one person on each recording. CPE credit is not available on recordings. All formats include course handouts.

To find out which recorded format will provide the best CLE option, select your state:

CLE On-Demand Video