Description
Increasingly, clients need to simultaneously address: the estate, gift, generation-skipping, income, and property tax implications of estate plans; the pros and cons of relying on the portable exclusion to avoid estate tax; and current steps to handle a reduced exclusion and Clawback. In this course, we examine the role of the marital deduction and Survivor's Trusts ("A" trusts), ways to maximize planning opportunities by building flexibility into the modern estate plan, the qualitative and quantitative implications of various strategies affecting blended families, whether to use Bypass ("B") Trusts or QTIP ("C") trusts, and whether to file a Form 706 when it's not required.
Learning Objectives
• Determine how to properly apply recent tax and legal developments
• Recognize how to claim the portable exclusion at the first and second deaths
• Identify the pros and cons of “B” (Bypass) trusts
• Recognize the trend toward “A” (Survivor's)/”C” (QTIP) trusts planning, leaving out “B” (Bypass) Trusts and when it is appropriate