Year End Estate Planning

Course Description: Year-end tax planning 2022 is different from prior years. Practitioners might recommend traditional annual gift planning but for some perhaps many clients annual gifts may not be worthwhile. We’ll explore the pros and cons of annual gifts and nuances such as GST implications. There is also still time for practitioners to encourage clients to retitle assets and take other steps in anticipation of 2026 reduction in the exemption amount. Taking some steps before the end of 2022 may reduce the risks of step transaction or reciprocal trust challenges against SLAT and other planning. This type of planning will be discussed based on the somewhat unique 2022 year-end tax planning environment, lessons from the Smaldino case and other perspectives. The program will also talk about ideas for year end in light of the Proposed Clawback Regulations. Monitoring trust income in light of trust compressed tax rates, and considering the 65-day rule. How to shore up valuation adjustment clauses in year end transactions. Valuation issues practitioners should be concerned about (the GRAT CCA and Batty case). Recission as a possible remedy for unintended 2022 transactions. Charitable gift planning before year end has always been a common practice but recent cases emphasize the need for practitioners to caution clients to carefully comply with substantiation and other requirements. Other planning and year end considerations will be discussed.

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

Sponsor: Interactive Legal (ILS) and Peak Trust Company

*This may constitute attorney advertising.

*There are no professional advancement credits (CPE, CLE, etc.) offered for viewing this webinar.