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An 800 number connects you to nationally recognized practice leaders who will speak on important issues and emerging trends in the law. You can also pose your own questions to the speakers. Written materials and other details are emailed in advance to pre-registrants.
2 CLE hours
Income tax issues have become increasingly important in trust and estate planning as the federal estate and gift tax apply to fewer clients. In this environment, income tax issues may have a far greater financial impact on client plans than the estate and gift tax. Even client estates large enough to trigger federal estate and gift taxes require income tax planning because often planning for income tax may help reduce estate and gift taxes. And when income tax planning is overlooked, clients may suffer unexpected tax bills. This program will program will provide you a framework for understanding significant income tax issues in trust and estate planning and how income tax planning impacts estate and gift tax planning.
Part 1 – July 12, 2016:
• Income tax planning issues for estate and trust planners
• How income tax planning impacts estate and gift tax planning
• New basis reporting and consistency rules – timing, procedure, penalties
• Traditional marital deduction/credit shelter planning v. basis and income tax considerations
• Role of state estate and gift taxes in income tax planning
• Portability issues in income tax planning
Part 2 – July 13, 2016:
• Income tax planning for lifetime gifts to individuals and charities
• Income tax consequences of gifts and loans to family members
• Transfers of low basis property to the taxpayer
• Transfer of high basis assets to a grantor trust
• Use of grantor trusts to eliminate income tax concerns
• What if the estate tax is higher than the income tax if asset is sold?
• What happens when the estate “freeze” is successful?
• QPRT – qualified personal residence trust – planning
Jennifer A. Pratt is a partner in the Baltimore office of Venable, LLP, where she has assists client with estate planning, charitable giving, and estate and gift tax controversy matters. She has extensive experience with estate administration, the preparation of federal estate and gift tax returns, as well as fiduciary income tax returns. Earlier in her career, she worked with a major national bank and has particular expertise in adapting financial products to the estate planning needs of clients. She has been named in the 2011 edition of “Maryland Super Lawyers Rising Stars Edition.” Ms. Pratt received he B.A., summa cum laude, from the University of Baltimore, her J.D., magna cum laude, from the University of Baltimore School of Law, and her LL.M. in taxation from the University of Baltimore.
Blanche Lark Christerson
is a managing director at Deutsche Bank Wealth Management in New York City, where she works with clients and their advisors to help develop estate, gift, tax, and wealth transfer planning strategies. Earlier in her career she was a vice president in the estate planning department of U.S. Trust Company. She also practiced law with Weil, Gotshal & Manges in New York City. Ms. Christerson is the author of the monthly newsletter “Tax Topics." She received her B.A. from Sarah Lawrence College, her J.D. from New York Law School and her LL.M. in taxation from New York University School of Law.