Extension And Increase Of Basic Exclusion Amount: Including Impact On “Moderately” Wealthy Clients

This webinar will provide a discussion of a wide range of current estate planning topics in the post-OBBBA environment. Non grantor trusts can be used to maximize charitable contributions and SALT and other OBBBA benefits. Non-grantor SLANTs are an important technique, but who qualifies as an adverse party? Terminating existing trusts for basis step up has become a conversation topic with many clients, but does it make sense? When and how might it be accomplished? What are the pros/cons and considerations of terminating a trust?

Asset protection and in particular domestic asset protection trusts, DAPTs are important to planning with the new high exemption to assure access. A new DE Case, In the Matter of the CES 2007 Trust, will be reviewed including a later Colorado case. Many of the decisions as to which type of trust should be used and for which client has changed. Incomplete gift trusts versus completed gift trusts considering higher exemption and basis step up. The determination of how much access to give a settlor in an irrevocable trust has evolved. The new calculus, hybrid DAPT, SPAT, loans, underlying entities, tax reimbursement (new CCA) will be reviewed. Moderate wealth clients adapting planning – local trusts and individual trustees, instead of say Nevada and an institutional trustee. Many clients will overlook portability with the new high permanent exemption. However many should still file to preserve their deceased spouse’s exemption (DSUE), despite high exemption. The Estate of Billy S. Rowland will be discussed.

Speakers: Martin Shenkman, Esq. and Jonathan G. Blattmachr, Esq.