2024 Generation-Skipping Transfer Tax Planning Techniques in Light of Increased Estate and Gift Tax Exemptions
Applicable Rules, Allocations, Formula Drafting, Key Challenges, and Mistakes to Avoid
Recording of a 90-minute CLE/CPE video webinar with Q&A
This CLE/CPE course will provide estate planners guidance on key generation-skipping transfer (GST) tax planning techniques in light of increased estate and gift tax exclusions and other key provisions under current tax law. The panel will discuss applicable GST rules and utilizing those rules to the advantage of clients, allocations, formula drafting, and more. The panel will also discuss reporting requirements, computing the GST tax, key challenges, and avoiding mistakes.
Outline
- GST planning: impact of increased estate and gift exclusion
- IRC 2642 structure
- Calculation of inclusion ratio
- Planning implication of pre-transfer inclusion ratio and fraction calculations
- Utilizing GST tax planning under current tax law
Benefits
The panel will review these and other important topics:
- What are the key planning considerations in light of increased estate and gift exclusions?
- How can GST tax planning assist clients under current tax law?
- What is the interrelation between the inclusion ratio and an applicable fraction under Section 2642 and its regulations?
- What are the special rules for trusts in calculating the inclusion ratio and imposition of GST tax?
Faculty
Amber Waldman
Senior Director
RSM US
Ms. Waldman is an estate and gift senior director in RSM’s Washington National Tax practice. She spends most of... | Read More
Ms. Waldman is an estate and gift senior director in RSM’s Washington National Tax practice. She spends most of her time serving ultra high net worth clients as an estate, gift, and generation-skipping transfer tax subject matter expert. Ms. Waldman has over ten years of experience in public accounting serving ultra high net worth families. She is passionate about helping clients accomplish their business, personal, and family planning goals by first listening to their concerns, and then creating well-thought-out tax strategies. Ms. Waldman advises on a wide spectrum of tax matters, including generation-skipping transfer tax remedies, adequate disclosure and proper gift tax reporting, estate and gift special valuation issues, and income tax ramifications of estate planning decisions.
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Carol Warley
Partner
RSM US
Ms. Warley has been a partner at a Big Four firm, owner of a certified public accounting practice, and now serves as... | Read More
Ms. Warley has been a partner at a Big Four firm, owner of a certified public accounting practice, and now serves as RSM’s Washington National Tax private client services tax practice leader. She is a thought leader and mentor in tax consultation services and specializes in estate and gift planning, charitable gift planning, and fiduciary income tax planning. Ms. Warley offers personalized consulting related to individual income tax, estate tax, gift tax, generation-skipping transfer tax, life insurance planning, stock option planning, charitable gift giving and fiduciary income tax. She works extensively with wealthy individuals, trusts, estates, family offices, corporate executives, retired executives, charitable entities and closely held business owners.
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