Irrevocable Life Insurance Trust Strategies Post-ATRA: Maximizing Tax and Non-Tax Benefits

Forming, Funding and Administering ILITs or Unwinding Unnecessary Trusts

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

Conducted on Tuesday, February 18, 2014

Recorded event now available

or call 1-800-926-7926

This CLE course will educate estate planning counsel on leveraging irrevocable life insurance trusts (ILITs) in the modern estate plan. Our experienced panelists will outline the tax and non-tax benefits of—and options for—unwinding ILITs.

Description

As a result of ATRA, counsel must assess life insurance in clients' overall estate plan and evaluate whether there are continued tax and non-tax needs for ILITs. These trusts were implemented as part of an aggressive gifting program due to the uncertainty in 2012 as to whether the exemption would decrease or increase. Counsel now faces the task of unwinding unnecessary ILITs.

While ATRA eliminated the federal estate tax for estates valued at $5.25 million or less, several states still have estate tax laws that will subject smaller estates to tax liability. There are also several non-tax uses for the ILIT that counsel should understand. As such, there are situations where ILITs will remain an important planning tool.

If an ILIT is no longer a necessary component of an estate plan, unwinding an ILIT is a complex process. Our specialized panel will review the techniques and best practices for determining whether unwinding an ILIT is the best choice for the client and, if so, how to get through the process smoothly.

Listen as our experienced panel provides an in depth review of using ILITs in estate planning and offers their experienced approaches for forming, administering and unwinding ILITs.

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Outline

  1. Federal and state estate tax planning
  2. Non-tax planning
  3. Establishing, funding and administering the ILIT
  4. Unwinding unnecessary ILITs

Benefits

The panel will review these and other key questions:

  • What are the continued tax benefits of an ILIT?
  • What are the non-tax benefits of an ILIT?
  • What are the best practices in establishing, funding and administering an ILIT?
  • What are the techniques for unwinding an unnecessary ILIT?

Following the speaker presentations, you'll have an opportunity to get answers to your specific questions during the interactive Q&A.

Faculty

Bruce Givner
Bruce Givner
Principal
Givner & Kaye

Mr. Givner has been practicing tax law for more than three decades, specializing in income tax planning, estate tax...  |  Read More

George D. Karibjanian
George D. Karibjanian
Senior Counsel
Proskauer Rose

Mr. Karibjanian has more than 24 years of experience in the areas of estate planning and probate and trust...  |  Read More

Jill L. Miller
Jill L. Miller
Adjunct Professor
Jill Miller & Associates

Ms. Miller focuses on formulating sophisticated and highly personalized estate plans for individuals and families with...  |  Read More

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Strafford will process CLE credit for one person on each recording. All formats include course handouts.

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