Income Tax Basis in Estate Planning: Maximizing Advanced Techniques to Avoid Income Tax on Inherited Assets
Implementing Double Basis and Estate Trust Strategies; Overcoming Basis Issues With Gifting and the GST
Recording of a 90-minute CLE/CPE webinar with Q&A
This CLE/CPE course will provide estate planners and tax professionals with best practices for minimizing income taxes on inherited assets by leveraging the opportunities available to spouses.
Outline
I. Portability of estate tax exemption and focus in income tax reduction
II. Income-shifting strategies
III. “Spray” or “Sprinkle” trusts
IV. “A-B” Trusts, QTIPs, GPA Trusts
V. Other basis preservation trusts
VI. Potential benefits of family limited partnerships
A. Valuation discount
B. But with risk of basis reduction
VII. IRC Section 2038-compliant trusts
VIII. GST issues
Benefits
The panel will explore these and other basis maximizing tools:
- Income-shifting strategies and “spray” trusts
- Family limited partnerships and valuation discounts—impact on basis
- Various trust vehicles for basis preservation
- Use of charitable bequests and inter vivos contributions
- Other spousal gifts
Faculty
Glenn J. Christofides, Esq.
Bressler Amery & Ross
Mr. Christofides counsels individuals with respect to sophisticated techniques to facilitate tax efficient... | Read More
Mr. Christofides counsels individuals with respect to sophisticated techniques to facilitate tax efficient inter-generational wealth transfer and prepares all attendant documents. He routinely represents clients in tax controversies with federal and state taxing authorities, seeks private letter rulings on behalf of clients, and prepares estate and gift tax returns. He also advises individuals and entities with respect to acquisitions and sales, equity offerings, executive compensation, and tax reporting compliance.
CloseLaurelle M. Gutierrez
Partner
McDermott Will & Emery
Ms. Gutierrez has a diverse practice representing high net worth individuals and their families with respect to... | Read More
Ms. Gutierrez has a diverse practice representing high net worth individuals and their families with respect to all aspects of gift, estate and generation-skipping wealth transfer tax planning, as well as trust and estate administration. She has extensive experience in the design and implementation of sophisticated inter-generational wealth transfer planning strategies to minimize the impact of estate, gift and generation-skipping transfer taxes.
CloseL. Timothy Halleron
Partner
McDermott Will & Emery
Mr. Halleron focuses his practice on tax and estate planning matters. He advises clients with respect to... | Read More
Mr. Halleron focuses his practice on tax and estate planning matters. He advises clients with respect to investment diversification techniques, asset protection, and corporate and family governance issues, including the formation of private trust companies. He consults with fiduciaries in probate and trust administration as well as advises clients in connection with litigation involving disputes between trustees and beneficiaries.
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