Post-Mortem Estate Planning Techniques: Income Tax Planning and Estate Tax Considerations
Trust Planning, Modifications and Allocations Post-Tax Reform, Basis Adjustments, Distribution Timing, and Funding Issues
Note: CPE credit is not offered on this program
Recording of a 90-minute CLE webinar with Q&A
This CLE course will provide estate planning counsel with sophisticated methods for post-mortem estate planning, including trust modification and allocations and estate tax considerations. The panel will offer tools to help fiduciaries and trust administrators navigate post-mortem planning challenges and opportunities, options for trust modifications, and discuss possible tax impacts of post-mortem planning modifications.
Outline
- Post-mortem planning: federal and state tax challenges
- Trust conversions and beneficiary designations
- Tax deferral elections and potential pitfalls
- Use of alternate valuations
- Trust modifications and potential ramifications
Benefits
The panel will review these and other key topics:
- The shift from estate tax reduction to income tax minimization post-tax reform
- Estate distribution timing and funding issues
- Deferring tax using Section 6166, testamentary CLATs and "Graegin loans"
- Obtaining step-up on basis at death and basis consistency reporting requirements
- Income tax planning for partnerships after death
- Utilizing the Section 645 election
- Where to take administration expense deductions
- Protecting the fiduciary from tax liabilities
Faculty
James I. Dougherty
Partner
Withers Bergman
Mr. Dougherty focuses his practice on probate, tax, trust, and estate issues. He assists executors and beneficiaries... | Read More
Mr. Dougherty focuses his practice on probate, tax, trust, and estate issues. He assists executors and beneficiaries through all aspects of the estate administration process including probate, contested estates, contentious trust litigation, tax, and post-mortem estate planning issues. His practice also includes working with affluent individuals in the development and implementation of sophisticated planning techniques to help them accumulate, preserve, and transfer their wealth. In addition to helping clients navigate through complex estate matters and identifying planning opportunities, he is a frequent author and speaker, nationally and internationally, on estate, trust, tax, and probate matters.
Susan K. Dromsky-Reed
Member
Brach Eichler
Ms. Dromsky-Reed concentrates her practice in estate planning and estate administration. She provides individuals and... | Read More
Ms. Dromsky-Reed concentrates her practice in estate planning and estate administration. She provides individuals and families with advice regarding spousal, intergenerational, business succession, charitable planning and preparation of prenuptial agreements. Ms. Dromsky-Reed is a Fellow of the American College of Trust and Estate counsel and is a frequent author and lecturer on estate planning and administration.
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Stuart M. Gladstone
Member
Brach Eichler
Mr. Gladstone is recognized as one of New Jersey’s leading authorities, representing individuals as well... | Read More
Mr. Gladstone is recognized as one of New Jersey’s leading authorities, representing individuals as well companies of all sizes, in the fields of comprehensive estate planning, business succession, and estate taxation. His particular blend of experience proves invaluable for business owners wrestling with the structuring of the purchase and sales of companies; tax-efficient transfers of company equity to family members; qualified and non-qualified retirement plans; and key personnel incentive plans. Mr. Gladstone also provides counsel on estate planning to minimize federal and state estate death taxes through wills, trusts, life insurance planning, and sophisticated gift and/or sale strategies.
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David J. Ritter
Member
Brach Eichler
Mr. Ritter has been providing counsel on income and estate tax planning for individuals as well as their businesses and... | Read More
Mr. Ritter has been providing counsel on income and estate tax planning for individuals as well as their businesses and investments. He provides business succession and sophisticated estate planning services to a wide range of clients. Mr. Ritter brings to his practice deep knowledge of a myriad of business transactions and restructuring and the tax consequences of such transactions.
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