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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

    Wednesday, March 15, 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 estate planning counsel an in-depth analysis of essential estate inclusion techniques and key challenges under current tax law. The panel will discuss structuring gifts and transfers during life, leveraging general and special powers of appointment, shifting life insurance assets back into the taxable estate, the best use of portability, and effective trust structuring techniques.

Faculty

Neal B. Jannol
Attorney
Law Offices of Neal B. Jannol

Mr. Jannol is a sole practitioner in Los Angeles at the Law Offices of Neal B. Jannol. He has been an attorney for more than 20 years and concentrates his practice on sophisticated estate and tax planning for individual clients, the representation of individual and corporate fiduciaries, and the administration of estates and trusts. His experience includes drafting revocable and irrevocable trusts, business succession planning, premarital planning, charitable gift planning, and all aspects of estate administration and probate procedures. He is a member of the State Bar of California and is a Certified Specialist in Estate Planning, Trust & Probate Law. Mr. Jannol earned his B.A. degree, magna cum laude, from the University of California at Los Angeles and his J.D. degree from the University of California at Berkeley, Boalt Hall School of Law.

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Kristin Yokomoto
Attorney
Albrecht & Barney

Ms. Yokomoto is a Certified Specialist in Estate Planning, Trust and Probate Law by the State Bar of California Board of Legal Specialization. She focuses on estate planning, trust administration, probate, and business succession planning. Ms. Yokomoto has background in venture capital financing and mergers and acquisitions. She has been practicing law for over twenty years and prior to that, was a financial analyst for a Fortune 500 company. Ms. Yokomoto is the Secretary of the OCBA Professionalism & Ethics Committee, Member of the California Trusts and Estates Section, Member of the OCBA Trusts and Estate Section, California Forum Leader of WealthCounsel, LLC, a national organization of estate planning lawyers, and Former Chair and Board Director of STEP Orange County, an international organization of estate planning professionals. She earned a B.A. from the University of California Santa Barbara, an M.B.A. from the University of Arizona, a J.D. degree from the University of Arizona School of Law, an LL.M in Taxation from San Diego University School of Law, and an LL.M. in Taxation degree from Chapman University School of Law. 

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Description

Tax reform and continuance IRS regulations require estate and trust counsel to reevaluate planning mechanisms for estates and trusts continually. A key focal point for an effective estate plan involves a critical analysis of estate inclusion tactics and related challenges under current tax law.

Estate planning counsel must be able to recognize when estate inclusion is appropriate and integrate techniques that avoid unintended tax liability while also maintaining the intent of the client. Grasping an understanding of the advantages and potential ramifications of making gifts and transfers during life, leveraging powers of appointment, the use of portability, and other methods will ensure adequate planning for an estate.

Estate planning counsel must learn how to avoid capital gain tax traps in structuring or modifying trusts, and how to enable income tax shifting among beneficiaries and appointees efficiently.

Listen as our panel discusses effective estate inclusion tactics under current tax law and provides an in-depth analysis of appropriate circumstances for the use of these estate inclusion methods.

Outline

  1. Benefits of estate inclusion
  2. Gifts and transfers
  3. Leveraging powers of appointment
  4. Shifting life insurance assets
  5. Portability
  6. Key considerations in structuring trusts

Benefits

The panel will review these and other key issues:

  • When is the intentional inclusion of assets in the taxable estate appropriate?
  • What are the available options and pitfalls to avoid estate inclusion under current tax law?
  • What are the best methods for gifting and transferring assets?
  • What assets benefit the most from the basis increase, and how can this be addressed in powers of appointment?
  • What are the benefits and potential challenges in moving life insurance assets back into the taxable estate?
  • What is the best use of portability?
  • What are the critical considerations in structuring trusts?

NASBA Details

Learning Objectives

After completing this course, you will be able to:

  • Recognize when the intentional inclusion of assets in the taxable estate is appropriate
  • Ascertain available tax planning options and pitfalls to avoid estate inclusion under current tax law
  • Identify the best tax planning methods for gifting and transferring assets
  • Understand what assets benefit the most from the basis increase
  • Recognize the best use of portability to minimize tax liability

  • 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 preparing complex tax forms and schedules, supervising other preparers or accountants. Specific knowledge and understanding of estate, gift and trust taxation including various trusts types, the unified credit, and portability.

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).