BarbriSFCourseDetails
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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, September 12, 2024

  • 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.

$297.00
CLE
ALL

This CLE course will provide estate planners with a comprehensive and practical guide to critical considerations and pitfalls to avoid in structuring intentionally defective grantor trusts (IDGTs). The panel will discuss navigating the tax treatment and fiduciary requirements for defective trusts upon the trustor's death, income allocation rules, post-mortem asset transfer strategies, and tax reporting requirements for defective grantor trusts.

Faculty

James I. Dougherty
Partner
Dungey Dougherty PLLC

Mr. Dougherty focuses his practice on probate, tax, trust, and estate issues. He assists executors and beneficiaries through all aspects of the estate administration process including probate, contested estates, contentious trust litigation, tax, and post-mortem estate planning issues. His practice also includes working with affluent individuals in the development and implementation of sophisticated planning techniques to help them accumulate, preserve, and transfer their wealth. In addition to helping clients navigate through complex estate matters and identifying planning opportunities, he is a frequent author and speaker, nationally and internationally, on estate, trust, tax, and probate matters.


 

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Maurice D. Holloway
Partner
Nelson Mullins Riley & Scarborough LLP

Mr. Holloway has experience in the formation of corporations, partnerships, and limited liability companies; structuring like–kind exchanges; estate and business succession planning; probate administration, trusts and estates litigation, and mergers and acquisitions

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Description

For most taxpayers, estate planning should focus on income tax efficiency while also maximizing the estate tax exemption.

IDGTs, when structured correctly, are very effective for transferring assets and property that will likely appreciate to beneficiaries because they allow the grantor to sell or transfer assets to the trust without recognizing a gain. The sale of an asset to an IDGT is not considered a gift event that would trigger gift taxes, and the sale is not considered a taxable event that would trigger any capital gains tax. Also, the sale accomplishes the removal of the asset from the taxable estate. IDGTs offer benefits, but they are not without risks, including potential changes to the grantor trust rules that practitioners should advise their clients of.

Listen as our authoritative panel of estate planning counsel discusses best practices for determining which clients and assets can most benefit from IDGTs, maximizing the tax advantages, and avoiding the pitfalls associated with this technique.

Outline

  1. IDGT advantages and applications
  2. Regulatory and statutory requirements
  3. Structuring the trust
  4. Structuring asset transfer transactions to defective trusts
  5. Tax consequences for IDGTs

Benefits

The panel will review these and other key issues:

  • What are the statutory and regulatory requirements for structuring IDGTs?
  • What are practical planning approaches for using IDGTs?
  • What drafting strategies should be used in creating IDGTs?
  • What tax considerations should estate planning counsel consider?