All estate planners and wealth advisors need to review their client’s estate plan to ensure that their objectives can be accomplished while minimizing income, gift, estate and generation-skipping taxes.
The scheduled reduction in the estate tax exemption after 2025, together with two proposed bills “The STEP Act” and the “For the 99.5% Act” would make substantial revisions to the tax code with some provisions retroactive to 1/1/2021 and others effective 1/1/22. With these scheduled and potential transfer tax changes on the horizon, those in estate planning need to understand the implications and opportunities presented. Now is the time to begin this process. The impact of the pandemic, together with low, but steadily increasing interest rates and depressed asset values, present an opportunity and necessity to begin the analysis and planning process now.
**Please Note: If you need credit reported to the IRS for this IRS approved program, please download the IRS CE request form on the Course Materials Tab and submit to leighanne.conroy@acpen.com.
DESIGNED FOR
Anyone who is involved with a client’s estate plan or providing tax and wealth management advisory services. This includes attorneys, CPA’s, financial advisors and insurance agents.
BENEFITS
- Educate professionals on issues, opportunities and techniques to effectively advise their clients.
HIGHLIGHTS
- Proposed Changes in Income, Gift, Estate and Generation-Skipping Transfer Taxes
- 50% reduction in Gift and Estate Tax Exemption after 2025
- Impact and Opportunities Resulting from the favorable Anti-Clawback Regulations
- Portability
- GRATs
- Interest Rate Opportunities
- Benefits of Gifting Now
- Valuation Discounts
- Opportunities for using exemptions while retaining use of gifted assets through SLATs (Spousal Lifetime Access Trusts) and Inter-vivos QTIPs (Qualified Terminable Interest Trusts)
- Leveraging Opportunities Utilizing grantor trusts, leveraged sales and low interest rate loans to irrevocable trusts
- Rescuing and Rehabilitating Irrevocable Trusts utilizing decanting and modifications
COURSE LEVEL
Overview
PREREQUISITES
None
ADVANCE PREPARATION
None
ADDITIONAL NOTES
Please contact Anne Taylor for any complaints. anne.taylor@acpen.com, (972-377-8199).