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Estate Planning Strategies During and After a Market Correction: The COVID-19 Edition

Recording of a 110-minute CPE webinar with Q&A

This program is included with the Strafford CPE Pass. Click for more information.
This program is included with the Strafford CPE+ Pass. Click for more information.
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Conducted on Tuesday, May 26, 2020

Recorded event now available


This course will review certain estate and gift planning strategies that all advisers should be discussing with their clients to take advantage of the current market decline and low interest rates.

Description

A decline in the value of assets provides individuals with the opportunity to transfer low-valued assets out of an estate and pass tax-free appreciation to beneficiaries. Utilizing the annual gift exclusion, establishing a GRAT, creating charitable lead trusts, and converting to Roth IRAs are only a few ways to benefit from this market downturn. Although not an ideal time to sell a business, gifting a closely held business interest could provide substantial tax savings.

Understanding the many mechanisms available is vital for trust and estate advisers to ensure assets escape transfer taxes on appreciation.

Listen as Gregory L. Allison, JD, CPA/PFS, CFP®, Shareholder at Schneider Downs, details planning techniques to take advantage of the impact of the coronavirus, including utilizing trust and lifetime gifting strategies to minimize these taxes.

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Outline

  1. Extensions
  2. Gifting strategies
  3. Charitable strategies
  4. Trust strategies
  5. Life insurance considerations
  6. Loss harvesting
  7. Portfolio rebalancing
  8. Roth conversions
  9. Other techniques

Benefits

The panelist will review these and other key issues:

  • What gifting strategies to consider in a low interest rate environment during a market correction
  • The impact of the current environment on closely held business valuations
  • What charitable strategies have more potential benefit during these times
  • What can you do with existing trusts to take advantage of the current market conditions?
  • What to do with existing insurance policies (or potentially acquiring new policies)
  • What is loss harvesting and the impact it can have on portfolio rebalancing
  • What is a Roth conversion and how is it reported?
  • Other financial planning techniques and considerations

Faculty

Allison, Gregory
Gregory L. Allison, JD, CPA/PFS, CFP®

Shareholder
Schneider Downs & Co.

Mr. Allison focuses on estate and succession planning for business owners, executives, and high-net-worth individuals....  |  Read More