Estate Tax Planning with the Tax Cuts & Jobs Act of 2017 Out of Stock
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The Tax Cuts & Jobs Act of 2017 created supposedly permanent high federal estate and gift tax exemptions. This CLE studies how to effectively estate plan in the current high federal estate and gift tax environment. In particular, the presentation focuses on non-estate and gift tax motivations for using credit shelter trusts, and examining the positive and negative aspects of utilizing them. Additionally, the material critiques on whether to draft credit shelter trusts for clients or whether to rely on electing portability when the first spouse passes, and provides an analysis framework for the estate planner to utilize when deciding on whether to draft credit shelter trusts. Finally, the seminar addresses the important issue of how to mitigate one drawback of the use of credit shelter trusts - the lack of step up income tax basis on the surviving spouse's death - by discussing various techniques to mitigate such an impact.
Speaker: G.P. Diminich - Shumaker Loop & Kendrick, LLP
Note: When submitting your compliance reports to the SC Commission on CLE and Specialization, if you completed this in 2021, please use this course code:
Note: When submitting your compliance reports to the SC
Commission on CLE and Specialization, if you completed this in 2022, please use this course code: 223147ADO.
Tags Employment/Labor; Estate Planning/Administration; Tax; Big Ticket