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