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Course Details

Course Information
  • smart_display Format

    On-Demand

  • signal_cellular_alt Difficulty Level

    Intermediate

  • work Practice Area

    Estate Planning

Date & Time
  • event Date

    Thursday, January 4, 2024

  • schedule Time

    1:00 p.m. ET./10:00 a.m. PT

  • timer Program Length

    90 minutes

Credit Information

  • This 90-minute webinar is eligible in most states for 1.5 CLE credits.

  • BARBRI is a NASBA CPE sponsor and this 110-minute webinar is accredited for 2.0 CPE credits.

$297.00
CLE
CPE
ALL

This CLE/CPE webinar will provide an analysis of mechanisms and key considerations for utilizing various trusts, family limited partnerships, charitable giving vehicles, and other techniques aimed towards providing effective estate planning and asset protection.

Faculty

Deborah A. Plum
Attorney
Withersworldwide

Ms. Plum's practice is focused on advising individuals, families and their businesses in respect to succession and estate planning, family office and business structuring and cross-border tax planning. She is experienced in issues relating to gifting transactions and charitable endeavors, estate taxes and corporate planning for clients in New York, Arizona, California and abroad. Ms. Plum also has extensive knowledge of charitable foundations and not-for-profit organizations. Prior to joining Withers, Ms. Plum practiced as a trusts and estates planning lawyer with a global full-service firm in New York and Arizona and as a corporate tax lawyer for an international law firm in New York, where she advised on matters involving private equity funds, real estate investment trusts (REITs), and other investment vehicles in the context of mergers and acquisitions and tax-free reorganizations. She is admitted to practice law in both Arizona and New York. 

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Naomita Yadav
Partner
Withersworldwide

Ms. Yadav has a diverse and well-rounded tax background, including experience in both income tax and estate and gift tax matters, which makes her particularly suited for families with existing complex trust structures. She also has experience with cross-border families as well as nuances of visa designations and the interplay with tax laws. Interestingly, her own family is situated in three continents. Ms. Yadav advises families with generational wealth in the context of changing circumstances and passage of time such as multi-generation wealth planning for family members who are beneficiaries of trusts settled by prior generations. This particular mix of experiences and knowledge enables her to act as a proficient adviser for the globally mobile high net worth family.

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Description

Estate planning is crucial for large estates to preserve wealth and reduce tax liability. The increase of the estate and gift tax exemption amounts provides opportunities for reducing wealth transfer tax, as well as reducing capital gains taxes. With the increased estate and gift tax exemption set to sunset in 2025, these opportunities are of particular relevance.

Estate planning for large estates focuses on specific wealth transfer planning techniques essential to obtaining the best tax advantages on both the federal and state levels, avoiding family conflict, reducing estate costs, and preserving wealth.

Listen as our panel discusses effective mechanisms for utilizing various trusts, family limited partnerships, charitable giving vehicles, and other techniques aimed towards providing effective estate planning for large estates. The panel will also discuss income tax basis planning and preserving basis adjustments, gift strategies, modifying formula clauses in current estate documents, and state tax issues.

Outline

  1. Estate planning issues and opportunities for large estates
  2. Preserving basis adjustments and available techniques
  3. Available gift strategies and when to use them
  4. Drafting or modifying documents for income and estate tax planning flexibility
  5. State tax issues that must be considered
  6. Best practices for estate planners for large estates

Benefits

The panel will review these and other key issues:

  • What are the challenges and available opportunities for estate planning for large estates?
  • How can a family limited partnership be used as part of an estate plan?
  • What are the available gift strategies?
  • What are the available charitable planning techniques and structures?
  • What are the available mixed gift-sale opportunities and how are they helpful/when should they be used?
  • Which structures allow you to continue to access transferred assets?
  • What are the state tax issues and methods to limit their impact?
  • How can non-grantor trusts be utilized?

An encore presentation featuring Live Q&A.

NASBA Details

Learning Objectives

After completing this course, you will be able to:

  • Recognize the challenges and available opportunities for estate planning for large estates
  • Ascertain techniques for obtaining basis step-up
  • Understand the impact of certain available gift strategies
  • Identify key factors in drafting or reassessing formula clauses in plan documents
  • Understand the state tax issues and methods to limit their impact

  • Field of Study: Taxes
  • Level of Knowledge: Intermediate
  • Advance Preparation: None
  • Teaching Method: Seminar/Lecture
  • Delivery Method: Group-Internet (via computer)
  • Attendance Monitoring Method: Attendance is monitored electronically via a participant's PIN and through a series of attendance verification prompts displayed throughout the program
  • Prerequisite: Three years+ business or public firm experience preparing complex tax forms and schedules, supervising other preparers or accountants. Specific knowledge and understanding of estate, gift and trust taxation including various trusts types, the unified credit, and portability.

Strafford Publications, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of Accountancy have final authority on the acceptance of individual courses for CPE Credits. Complaints regarding registered sponsons may be submitted to NASBA through its website: www.nasbaregistry.org.