Proposed Changes to Estate and Gift Tax Laws

$134.00

Whether the proposed estate and gift tax changes end up being a typhoon or just an unusually high tide, there is no time like right now for clients to reduce their exposure to estate taxes. In this seminar, we discuss the changes to estate and gift tax laws that are being proposed in the current unpredictable political landscape, and the steps to take to weather the storm.

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Event Details

Webinar Date

Webinar Time

Course Type

Course Instructor

Thomas C. Shaw, Esq.

Original Date Of Course

General Credits

1

Course Description

Whether the proposed estate and gift tax changes end up being a typhoon or just an unusually high tide, there is no time like right now for clients to reduce their exposure to estate taxes. In this seminar, we discuss the changes to estate and gift tax laws that are being proposed in the current unpredictable political landscape, and the steps to take to weather the storm.

Principles

  • Overview of Estate and Gift Tax Laws
  • More likely to happen v. Not as likely to happen
  • Techniques that provide flexibility
  • Techniques that can still be used

Syllabus

  1. Overview
      • Sen. Bernie Sanders’ Bill (the “For the 99.5% Act”)
      • Pres. Joe Biden’s Proposals
  2. More Likely to Happen
      • Restrict Grantor Retained Annuity Trusts (“GRATs”)
      • Increase the Top Gift/Estate Tax Rate
      • Reduce the $11.7 Million Gift/Estate Exclusion
  3. Not As Likely to Happen
      • Limit Valuation Discounts.
      • Change Grantor Trust Rules.
      • Replace Step-Up Basis Rule for Estate Tax Purposes with Carryover Basis
      • Impose Generation-Skipping Tax Within 50 Years
  4. Techniques that Provide Flexibility
      • Formula Gifts.
      • Loans to Family Members (or Trust for Them)
      • Trusts with Built-In Disclaimer Planning
      • QTIP Election Trust Planning (Including Spousal Lifetime Access Trust (“SLAT”))
      • Intentionally Defective Grantor Trust (“IDGT”)
      • Charitable Remainder Trust (“CRT”)
      • Section 1031 Exchange
  5. Techniques that Can Still Be Used
      • Charitable Lead Annuity Trust (“CLAT”)
      • Qualified Personal Residence Trust (“QPRT”)
      • IRA Conversion to a Roth IRA
      • Annual Lifetime Gifts

Instructor

Thomas C. Shaw, Esq.

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