Estate Planning For Income Taxes: Maximizing Step-Up In Basis For Couples
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We are thrilled to bring back Jeffrey for his THIRD presentation. Not many presenters earn 98.5% excellent ratings from our exacting audience. Jeffrey presents virtually right after the markets close - and he'll deliver an exceptional program that will help you help your clients.
Given recent changes in the law, “tax planning” for one’s estate at death has become a lot less about estate tax planning, and far more about the income tax planning opportunities at death… particularly with respect to maximizing available step-up in basis opportunities. With that in mind, attendees of this session will explore topics including how pre-death asset transfers can help maximize step-up in basis, how other types of pre-death transfers can help avoid the potential for a step-down in basis, complications associated with these strategies for clients living in community property states, and the disadvantages of traditional credit shelter trusts that emerge in an estate planning environment driven by income- (rather than estate-) tax planning.
Learning Objectives:
1: Describe the different ways a decedent’s assets may be treated for income tax purposes after death.
2: Examine how the post-death tax treatment of IRD assets differs from other assets.
3: Identify planning considerations for when property is held jointly between spouses at death.
4: Learn planning strategies to maximize step-up in basis opportunities and to avoid losing capital losses.
5: Explore complications and opportunities that can present themselves when trusts are used for estate planning purposes
Continuing Education: expected for CFP, CPA, and self-reporting designations. NO CLE.
