Lifetime Gifting in Estate Planning: Leveraging QTIP Trusts, QPRTs, SLATs

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


Conducted on Wednesday, March 11, 2015

Recorded event now available

or call 1-800-926-7926
Program Materials

This CLE/CPE webinar will guide estate planning counsel in the use of lifetime gifts in a high exemption environment. Attendees will learn how to leverage various types of trusts that effectuate gifting goals while maximizing tax efficiency.

Description

Individuals often desire to gift assets to family members and close associates during their own lifetimes as well as through wills. However, an effective gifting plan requires specific due diligence, particularly given the shift in focus from estate tax to income tax. As such, counsel must be prepared to effectively implement tools such as trusts to accommodate clients’ goals, while reducing the overall tax burden.

One of the most exciting aspects of gift planning that works well within a dynamic environment is the spousal lifetime access trust which allows for clients to “undo” a completed gift. Counsel must carefully draft trusts to ensure they achieve the intended benefits.

Lifetime QTIP trusts are also beneficial given their ability to resolve issues with married couples whose respective estates are significantly unbalanced. QPRTs also continue to be an integral part of a client’s gifting plan. These trusts not only provide for tax-advantaged transfers of wealth, but also provide asset protection for real property.

Listen as our experienced panel provides guidance on structuring trusts for gift planning to include lifetime QTIP trusts, QPRTs and SLATs. The panelists will integrate a discussion of techniques for maximizing tax efficiency such as post-gift asset exchanges.

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Outline

  1. Gift planning goals in a high exemption environment
  2. Gift planning trusts
    1. QTIP
    2. QPRT
    3. SLAT
  3. Income tax efficiency
    1. Post-gift asset exchanges

Benefits

The panel will review these and other key issues:

  • What types of trusts should be implemented in a current gifting regime? What drafting techniques should be considered?
  • What are the drafting techniques for a spousal lifetime access trust that will ensure flexibility?
  • What considerations should be made when maximizing tax advantages of a gift plan? 

Faculty

Missia H. Vaselaney
Missia H. Vaselaney

Partner
Taft Stettinius & Hollister

Ms. Vaselaney focuses her practice on estate planning for business owners and individuals and is an OSBA...  |  Read More

Jeremiah W. Doyle, IV
Jeremiah W. Doyle, IV

Senior Wealth Strategist
BNY Mellon Wealth Management

Mr. Doyle provides clients with integrated wealth management advice on how to hold, manage and transfer their...  |  Read More

Jordan D. Veurink
Jordan D. Veurink

Atty
Lindquist & Vennum

Mr. Veurink focuses his practice on all aspects of estate planning, including developing estate plans that minimize...  |  Read More

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