BarbriSFCourseDetails
  1. keyboard_arrow_leftBack

Course Details

Course Information
  • smart_display Format

    On-Demand

  • signal_cellular_alt Difficulty Level

  • work Practice Area

    Estate Planning

Date & Time
  • event Date

    Wednesday, June 17, 2020

  • 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.

$297.00

This CLE course will provide estate planning counsel and fiduciary advisers with an advanced practical guide to basis adjustment techniques and strategies to minimize income tax on estate and trust assets. The panelist will discuss advanced strategies for achieving income tax basis step-up under various client scenarios, including spousal and non-spousal trust beneficiaries.

Faculty

Raatz Les
Shareholder
Dickinson Wright Pllc

Mr. Raatz practices primarily in the areas of estate planning, probate and trust administration, divorce tax and asset planning, and entity structuring, and taxation. He has significant experience representing thousands of business clients and their families in connection with estate and tax planning. Mr. Raatz is a national author and speaker at numerous seminars on areas of income, estate and gift taxation, probate and trust issues, and selection of business entities. He is a licensed attorney in Arizona. Mr. Raatz practiced as a Certified Public Accountant with KPMG Peat Marwick, CPAs. 

expand_circle_down Expand to View Full Bio expand_circle_up Collapse Bio

Description

The significant increase in the federal estate tax exemption under current tax law emphasizes the need for estate planners to minimize income taxes for beneficiaries on assets passed through inheritances and trusts. As fewer estates are subject to estate or gift tax, planners and fiduciary advisers must focus on managing tax basis to minimize the tax cost of transferring assets to beneficiaries.

Topics will include the following and more:

  • Key methods for individuals and irrevocable trusts with low basis assets.
  • Critical portability challenges.
  • Disclaimer trust to back into credit shelter or QTIP trust.
  • Transferring assets in trust for a spouse, to achieve income tax basis step-up at the spouse's death.
  • The Delaware tax trap - Code Section 2041(a)(3) and more.

Listen as Les Raatz, Member at Dickinson Wright, provides effective basis adjustment techniques and strategies to minimize income tax on estate and trust assets.

Outline

  1. Identifying low basis assets subject to potential income tax consequences
  2. Impact of tax reform on spousal portability planning
  3. Transfer strategies
  4. Post-mortem tools for achieving income tax basis step-up
  5. Potential tax risks of basis adjustment strategies

Benefits

The panelist will review these and other important topics:

  • Identifying assets that benefit from basis adjustment transactions?
  • Using trust decanting and other post-mortem actions to achieve basis step-up
  • Structuring sale and exchange transactions between trusts to maximize tax basis
  • Tax and other risks involved in basis adjustment transactions and strategies