QTIP Elections in Estate Plans: When and How to Elect, Anenberg and McDougall, Interplay With Portability
Course Details
- smart_display Format
On-Demand
- signal_cellular_alt Difficulty Level
Intermediate
- work Practice Area
Tax Preparer
- event Date
Monday, July 14, 2025
- schedule Time
1:00 p.m. ET./10:00 a.m. PT
- timer Program Length
110 minutes
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BARBRI is a NASBA CPE sponsor and this 110-minute webinar is accredited for 2.0 CPE credits.
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BARBRI is an IRS-approved continuing education provider offering certified courses for Enrolled Agents (EA) and Tax Return Preparers (RTRP).
This webinar will explain how QTIP trusts are utilized in estate plans. Our panel of trust and estate strategists will review the implications of the Anenberg and McDougall decisions for estates, point out when a QTIP election should be made on an estate return, and discuss the interaction of QTIP planning and portability.
Mr. Doyle provides clients with integrated wealth management advice on how to hold, manage and transfer their wealth in a tax efficient manner. He is the editor and co-author of Preparing Fiduciary Income Tax Returns, a contributing author of Preparing Estate Tax Returns and Understanding and Using Trusts and a contributing author of Drafting Irrevocable Trusts in Massachusetts. He is a lecturer in law in the Graduate Tax Program at Boston University School of Law.
Mr. Edmondson practices in partnership, corporate, and individual tax planning; business transactions including mergers and acquisitions; business planning; tax controversy; estate and wealth transfer planning; probate; estate and trust litigation; asset protection; and charitable planning. He has conducted, authored, and directed numerous seminars for professional, academic, and civic groups on taxation, business, asset protection and estate planning. Mr. Edmondson works closely with clients to develop and implement such strategies.
QTIP trusts allow taxpayers to retain control over assets, provide lifetime support for a surviving spouse, and defer estate tax until the death of a surviving spouse. The decisions surrounding QTIP elections changed remarkably when portability was added in 2011. And, the election, once made, is irrevocable.
Two recent cases, Anenberg v. Commissioner and McDougall v. Commissioner, exemplify the importance of properly structuring and administering these trusts. The Anenberg and McDougall decisions reveal criteria for determining how and when subsequent transactions could subject beneficiaries to gift tax, thus negating the benefits of these tax-saving trusts.
Trust and estate advisers need to understand when and how a client can benefit from a QTIP trust and when and how a QTIP election should be made on Form 706, United States Estate Tax Return.
Listen as our panel of astute transfer tax advisers discusses the benefits and caveats of QTIP trusts, recent developments, and how and when a QTIP election should be made.
I. QTIP trusts: introduction
II. Recent developments
A. Anenberg v. Commissioner
B. McDougall v. Commissioner
III. Interplay with portability
IV. Making the election on Form 706
V. Examples and illustrations
The panel will cover these and other critical issues:
- Lessons learned from McDougall v. Commissioner
- The impact of a QTIP trust on DSUE (deceased spouse unused exclusion)
- Completing Schedule M, Form 706 for QTIP property
- Benefits and caveats of using QTIP trusts in estate plans
Learning Objectives
After completing this course, you will be able to:
- Identify subsequent transactions that could subject QTIP beneficiaries to gift tax
- Determine when a client's estate plan could benefit from a QTIP trust
- Ascertain how make a QTIP election on an estate return
- Decide how McDougall v. Commissioner impacts QTIP trust planning
- Field of Study: Taxes
- Level of Knowledge:
- 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.
Strafford is an IRS-approved continuing education provider offering certified courses for Enrolled Agents (EA) and Tax Return Preparers (RTRP).
