About the Course
Introduction
This webinar will provide tax advisers with a practical guide to preparing and reviewing Form 709 Gift (and Generation-Skipping Transfer) Tax Returns, including reporting gifts to trusts and making required elections. Our accomplished panel will discuss how to allocate exemption amounts and practical strategies to minimize the impact of GSTT and avoid costly penalties.
Description
Clients who have utilized planning vehicles such as IDGTs, GRATs, ILITs, or decanted trusts face complex considerations in preparing Form 709 Gift Tax Returns. When preparing Form 709, practitioners must determine whether a transfer qualifies for the annual exclusion, identify whether the transfer is a present or future interest, apply gift-splitting rules, allocate available transfer tax exemptions, and satisfy adequate disclosure requirements. Gifts involving trusts present additional challenges, including reporting Crummey powers, GST allocations, ETIP rules, split-interest transfers, valuation discounts, and lifetime exemption usage. Errors or omissions can lead to unintended GST consequences, extended statutes of limitation, missed elections, and costly corrective filings.
Listen as our experienced panel provides practical guidance on calculating and reporting required allocations, as well as planning opportunities to reduce GST tax impact for IDGTs, GRATs, and ILITs,
Presented By
Mr. Bridgers is a Member of Illumine Legal LLC, contributing his extensive experience in estate planning, business succession, and taxation. With over 16 years of experience as both a practicing attorney and outsourced consultant, he advises on complex wealth transfer issues in a strategic capacity while also dedicating significant time to professional education and content creation for the broader estate planning community. Mr. Bridgers practice encompasses not just the drafting and maintenance of general estate planning structures, but also complex transfers of liquid and illiquid assets through structures such as defective grantor trusts, spousal lifetime access trusts, decanting, sales, qualified small business stock (QSBS), non-grantor trusts, and split-interest trusts. He also acts in a co-counsel or outsourced capacity to review proposed or existing trusts and wealth transfer plans, as well as transfer tax returns such as Forms 706, 709, 706-GS(D), and 706-GS(T).
Mr. Jones is an attorney licensed to practice law in the State of Utah. He is also a licensed CPA. Mr. Jones practices law in the areas of tax, business, estate planning, wills, trusts, probate, and certain real estate matters. He listens to his clients and then works diligently to find and implement accurate, practical, and cost-effective solutions.
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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).
Date + Time
- event
Thursday, October 29, 2026
- schedule
1:00 PM ET/10:00 AM PT
I. Form 709 filing requirements for GRATs, IDGTs, ILITs, and similar trusts
II. Automatic allocation rules and the election to opt out
III. Calculating the inclusion ratio
IV. Crummey trust reporting and notice requirements
V. Avoiding common preparer errors
VI. Meeting adequate disclosure requirements
VII. Completing Form 709: common scenarios
The panel will review these and other key issues:
- Preparing Form 709 and navigating recent form revisions
- Applying gift-splitting rules and documenting spousal consent requirements
- Meeting adequate disclosure requirements
- Opting out of the automatic allocation of the GST exemption
Learning Objectives
After completing this course, you will be able to:
- Identify taxable transfers to skip persons
- Ascertain reporting and notice requirements for Crummey Trusts
- Recognize common Form 709 preparer errors
- Determine how to complete Form 709 to report GST transfers and make effective elections
- 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.
BARBRI, 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.
BARBRI is an IRS-approved continuing education provider offering certified courses for Enrolled Agents (EA) and Tax Return Preparers (RTRP).
BARBRI CE webinars-powered by Barbri-are backed by our 100% unconditional money-back guarantee: If you are not satisfied with any of our products, simply let us know and get a full refund. Contact us at 1-800-926-7926 .
Related Courses
Reporting GRATs, GRUTs, ILITs, and IDGTs on Form 709: GST Exemption Allocation Calculations and Strategies
Thursday, October 29, 2026
1:00 PM ET/10:00 AM PT
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