Making Large Taxable Gifts

Thu 12/03/2020
3:20PM - 4:00PM
Presenter(s): Steven B. Gorin

This non-credit session will 1) describe which gifts might not achieve their intended objectives if certain anti-abuse regulations are adopted and which are not subject to that risk, 2) point out long-term consequences of using one’s entire exemption now, and 3) review the interaction of these tools with basis step-up issues.

The following will be discussed:

  • Effect of large taxable gifts on estate tax calculation and possible disallowance of that planning for certain arrangements
  • Using preferred partnership that intentionally violates Code § 2701
  • Grantor retained income trusts (GRITs)
  • Triggering Code § 2519 in QTIPs
  • Spousal limited access trusts (SLATs)
  • Basis step-up issues regarding the above ideas
  • Planning for future transfers to family once lifetime gift/estate tax exemption is used up