2024 Gift Planning Strategies in Light of Increased Tax Exemptions and Other Key Tax Provisions
Balancing Income and Transfer Tax Benefits, Determining the Appropriate Gifting Strategy, Tax Basis Planning
Recording of a 90-minute CLE/CPE video webinar with Q&A
This CLE/CPE webinar will provide estate planners guidance on key gifting strategies for individuals and couples under current tax law and in light of increased gift, estate, and generation-skipping transfer tax (GST) exemptions for 2024. The panel will discuss mechanisms for balancing income and transfer tax benefits, key gifting considerations, asset selection, and other critical items for estate planners.
Outline
- Key gifting considerations under current tax law
- Determining the appropriate gifting strategy
- Gifting to minimize income taxes
- Gifting to minimize transfer taxes
- Best practices and other planning options
Benefits
The panel will discuss these and other key issues:
- What are the critical gifting considerations under current tax law?
- What are the items to consider when determining the appropriate gifting strategy?
- What options are available to minimize income taxes?
- How do you ensure optimum tax basis planning?
- What options are available to minimize transfer taxes?
Faculty
Michael T. Clear
Partner, Chair Private Client Services Department
Wiggin and Dana
Mr. Clear regularly counsels clients on the far-reaching financial implications of estate planning, estate and trust... | Read More
Mr. Clear regularly counsels clients on the far-reaching financial implications of estate planning, estate and trust administration, probate litigation, and business succession planning. His estate planning practice includes assisting individuals and families in tax-efficient and practical estate and gift planning, including the preparation of wills, revocable living trusts, insurance trusts, and entities to own special family assets such as vacation homes and collections. Mr. Clear’s estate and trust administration practice often dovetails with his probate litigation experience, where he advises clients in will and trust construction cases, contested accountings, fiduciary removal proceedings, payment of unpaid claims, and conservatorship and guardianship matters. Mr. Clear also assists business owners with succession planning by presenting to family groups on business/estate planning matters and by preparing business entities, shareholders’ agreements, buy-sell agreements, and grantor-retained annuity trusts. He often facilitates the sale or purchase of business assets.
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Vanessa L. Maczko
Partner
Wiggin and Dana
Ms. Maczko is a Partner in Wiggin and Dana’s Private Client Services Department in the Greenwich, CT office. She... | Read More
Ms. Maczko is a Partner in Wiggin and Dana’s Private Client Services Department in the Greenwich, CT office. She advises high net-worth individuals and families on multi-generational transfers of assets, such as closely-held business interests, marketable securities, art collections, real estate, tangible personal property and insurance policies. Ms. Macczko's practice focuses on estate, gift and generation-skipping transfer tax planning.
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