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Course Details

Course Information
  • smart_display Format

    On-Demand

  • signal_cellular_alt Difficulty Level

    Intermediate

  • work Practice Area

    Estate Planning

Date & Time
  • event Date

    Thursday, January 19, 2023

  • schedule Time

    1:00 p.m. ET./10:00 a.m. PT

  • timer Program Length

    90 minutes

Credit Information

  • This 90-minute webinar is eligible in most states for 1.5 CLE credits.

  • BARBRI is a NASBA CPE sponsor and this 110-minute webinar is accredited for 2.0 CPE credits.

  • BARBRI is an IRS-approved continuing education provider offering certified courses for Enrolled Agents (EA) and Tax Return Preparers (RTRP).

$297.00
CLE
CPE
ALL

This CLE/CPE course will provide trusts and estates counsel guidance on various techniques to minimize capital gains in estate planning. The panel will discuss key estate planning issues from the sale and transfer of real estate, business interests, and other assets, as well as effective methods to minimize or eliminate capital gains. The panel will focus on techniques involving the use of trusts, circumstances when undoing trusts may be beneficial, upstream gifting, installment sales, notes, and other key items for trusts and estates counsel.

Faculty

Robert S. Barnett
Founding Partner
Capell Barnett Matalon & Schoenfeld, LLP

Mr. Barnett’s practice is highly concentrated in the areas of taxation, trusts, estates, corporate and partnership law and charitable planning.  His experience includes surrogate’s court practice, tax dispute resolution in both federal and state jurisdictions, and tax court representation.  Mr. Barnett frequently assists clients in structuring financial transactions and charitable gifts.  His articles and lectures encompass a wide variety of topics, including business succession, estate planning, generation-skipping, stock options, effective strategies for removing tax liens, proper utilization of the marital deduction and utilization of partnership elections.

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Lawrence M. Lipoff
Director
CohnReznick LLP

With more than 30 years of experience, Mr. Lipoff specializes in the delivery of domestic and international private client services to enable high-net-worth individuals and families to maximize their new or generational wealth. He provides strategic advice to his clients and their closely held businesses in the areas of income tax planning and compliance, estate planning and administration services, as well as family structure consulting. Through many years in practice, he synthesized the work of various related professionals, and their firms integrate several planning strategies into solutions that maximize value. Mr. Lipoff is a frequent lecturer and author of articles published through professional forums on topics including domestic and international - estate planning and fiduciary income taxation including constructive attribution rules for foreign trusts, Forms 3520 & 3520-A, Graegin Loans, business succession, generation-skipping transfers, Chapter 14 and carried interest estate planning for private investment fund principals, preferred freeze partnerships, and private placement life insurance.

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Description

Estate planning attorneys employ many strategies designed to minimize or eliminate tax liability. Counsel must carefully craft planning techniques to reduce the impact of capital gains on certain assets in light of potential tax law changes under the Biden administration.

The potential lowering of estate and gift tax exemption amounts can impact the benefits of stepped-up basis upon death. Trusts and estates counsel must consider clients’ options to ensure a reduction or elimination of capital gain taxes.

Certain assets are prime to generate potential capital gains, such as real estate, business interests, stock, and other assets. Counsel uses various estate planning methods, such as the use of SLATs and GRATs, installment sales, promissory notes, and upstream gifting. Counsel may consider trust provisions or the restructuring/modifying of trusts to ensure the estate plan's goals.

Listen as our panel discusses key considerations for clients to minimize capital gains through estate planning and effective techniques to achieve tax savings.

Outline

  1. Utilizing specific trusts or undoing trusts
  2. Upstreaming gifts
  3. Installment sales, notes, etc.
  4. Key issues and strategies for business owners
  5. Best practices for trusts and estate attorneys

Benefits

The panel will review these and other issues:

  • What are the most effective strategies for minimizing capital gains in estate planning?
  • What planning issues arise in the sale or transfer of real estate, business interests, stock, and other assets?
  • What circumstances would cause one to consider undoing a trust?
  • What are the advantages and disadvantages of upstream gifting?
  • What are the benefits and challenges of using installment sales, promissory notes, etc.?

NASBA Details

Learning Objectives

After completing this course, you will be able to:

  • Ascertain the most effective strategies for minimizing capital gains in estate planning
  • Recognize planning issues that arise in the sale or transfer of real estate, business interests, stock, and other assets
  • Understand the advantages and disadvantages of upstream gifting
  • Recognize the benefits and challenges of using installment sales, promissory notes, etc.

  • Field of Study: Taxes
  • Level of Knowledge: Intermediate
  • Advance Preparation: None
  • Teaching Method: Seminar/Lecture
  • Delivery Method: Group-Internet (via computer)
  • Attendance Monitoring Method: Attendance is monitored electronically via a participant's PIN and through a series of attendance verification prompts displayed throughout the program
  • Prerequisite: Three years+ business or public firm experience at mid-level within the organization, preparing complex trust and estate tax forms and planning; supervisory authority over other preparers/accountants. Specific knowledge and understanding of trust document provisions to allow treatment of capital gains as distributable net income, and 3.8% NIIT impact on trust capital gains; familiarity with fiduciary accounting income, Crummey powers and 5-and-5 trust documents

Strafford Publications, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of Accountancy have final authority on the acceptance of individual courses for CPE Credits. Complaints regarding registered sponsons may be submitted to NASBA through its website: www.nasbaregistry.org.

IRS Approved Provider

Strafford is an IRS-approved continuing education provider offering certified courses for Enrolled Agents (EA) and Tax Return Preparers (RTRP).