The Latest Estate Planning Ideas and Strategies
Date/Time: Thursday, October 25, 2012, 1-3 p.m. Eastern
(see all dates)
Presenter(s): Michael Tucker, CPA, Edward A. Renn, Esq.
Tax legislation enacted in 2010 has completely changed estate tax planning and strategies for 2012. These plans and strategies have a short life because in theory, starting in 2013, the $1 million estate tax exemption returns and replaces the $5.12 million exemption that applies for both gifts and estates in 2012. Practitioners are intensively interested in what can still done in 2012 - and whether the 2013 and later rules will "claw back" some of these generous benefits.
This program covers transfer tax related planning ideas and strategies that may be used in 2012 to minimize clients' transfer tax liabilities beyond 2012.
- What is the transfer tax regime after 2012 - to the extent it is known
- Planning strategies to use in 2012 to take advantage of the $5.12 million gift exemption
- Using discounts, FLPs and GRATS in 2012
- Reviewing existing estate planning documents to insure that existing estate plans maximize the advantages of the $5.12 exemption amount in 2012
- Planning for the use of portability of the estate tax exemption
- Insurance planning with the increased lifetime exemption in 2012
- Determining what planning strategies should be employed for decedents resident in a state where the state's estate tax rules have decoupled from the federal rules
- Use and apply transfer tax strategies that are particularly useful to clients in 2012
- Any tax practitioner who will be advising with respect to gifts and estates for 2012 later
Course Level: Advanced
CPE Credits: 2, Taxes
Prerequisite: Basic knowledge of estate and gift taxation
Advance Preparation: None