Section 199A for Trusts and Estates: Planning Techniques for Counsel, Optimizing QBI Deductions, Multiple Trusts
Note: CPE credit is not offered on this program
Recording of a 90-minute CLE webinar with Q&A
This CLE course will provide counsel and advisers guidance on obstacles and planning mechanisms regarding the use of partnerships and LLCs with trusts and estate planning. The panel will explore the limitations of the 199A deduction, design techniques to optimize the deduction, use of multiple trusts, application of Section 643(f) anti-abuse provisions, methods in reducing the impact of the "service business" provisions of Section 199A, and other vital considerations.
Outline
- Key planning considerations in using pass-through entities in estate planning
- Optimizing deductions under Section 199A
- Identifying QBI and eligible partnerships
- Wages and capital limitations
- Allocating deduction between trust and beneficiaries
- Special rules and challenges when dividing assets among multiple trusts
- Best practices and planning opportunities for counsel
Benefits
The panel will review these and other challenging issues:
- The impact of Section 199A on trusts and estate planning
- Determining eligibility under Section 199A, limitations and allocations
- Planning strategies for using partnership and LLCs in estate planning
- Key considerations in dividing assets among multiple trusts
- Section 643(f) anti-abuse provisions
- Planning strategies for using partnership and LLCs in estate planning
Faculty
Patrick J. Duffey
Attorney
Holland & Knight
Mr. Duffey focuses his practice on complex estate planning, trust administration and probate matters. He provides... | Read More
Mr. Duffey focuses his practice on complex estate planning, trust administration and probate matters. He provides sophisticated estate planning for high-net-worth clients, with a focus on lifetime tax minimization strategies, including the use of revocable and irrevocable grantor and nongrantor trusts, grantor-retained annuity trusts, irrevocable life insurance trusts, qualified personal residence trusts, closely held entities, installment notes and defined-value clauses. He also represents fiduciaries in a number of matters, including fiduciary litigation, homestead controversies, decanting and various methods of trust modification. He has experience overseeing a range of tax filings, including forms 1041, 706 and 709.
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Kevin M. Hall
Atty
McDermott Will & Emery
Mr. Hall focuses his practice on domestic and international tax matters for multinational companies and high-net-worth... | Read More
Mr. Hall focuses his practice on domestic and international tax matters for multinational companies and high-net-worth individuals. He has experience planning and implementing a variety of transactions, including domestic and cross-border mergers, acquisitions, spin-offs, and joint ventures. Mr. Hall has provided tax advice in connection with capital markets transactions and cross-border lending transactions. He has also advised fund sponsors and fund investors.
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Stacey Prince-Troutman
Partner
Akerman
Ms. Prince-Troutman focuses her practice on administering estates and trusts; planning for wealth transfer and transfer... | Read More
Ms. Prince-Troutman focuses her practice on administering estates and trusts; planning for wealth transfer and transfer tax minimization; preparing gift and estate tax returns; drafting sophisticated estate plan documents; drafting documents related to the formation, management, and succession of closely held entities; asset protection planning; and forming and obtaining tax exempt-status for 501(c)(3) charitable organizations.
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