Gain a better understanding of the fundamentals of Dynasty Trusts in Estate Planning.
Clients who have wealth that exceeds the Applicable Exclusion Amount, currently $13.61 per person ($27.22 for a married couple), often desire their wealth to last several generations. Estate planning practitioners need to understand how best to accomplish that goal while ensuring that each generation has access to the family wealth. In the first half of the 20th century, trusts and estate attorneys devised trusts that would provide each generation with use of the assets without the inclusion of those assets in the estate of each generation for estate tax purposes.
Learning Objectives
- You will be able to define a direct skip, a taxable distribution, and a taxable termination.
- You will be able to describe the impact that a Dynasty Trust has on an estate plan.
- You will be able to discuss the benefits of creating a Dynasty Trust.
- You will be able to recognize situations for which a Dynasty Trust makes sense.
Agenda
Generation-Skipping Transfer Tax
- Brief History
- Definitions
- Transferor
- Skip Person
- Non-Skip Person
- Taxable Transfers
Rule Against Perpetuities
- The Basics
- Impact of Changing Situs
- Grandfather Status
- Private Letter Ruling
Other Issues
- Trustee
- Trust Protectors
- Limited Powers of Appointment
Multi-Generational Planning
- Gst Exemption Allocation
- Distributions
- Use Other Techniques
Who Should Attend
This live webinar is designed for attorneys, estate planners, accountants, presidents, vice presidents, CFOs, controllers, finance directors, business owners and managers, tax managers, financial planners, enrolled agents, and lenders.
