Remain ahead of the curve to be able to keep your clients informed and able to combat significant wealth erosion.
The Federal tax-free estate (exclusion) is scheduled to drop by 50% at the end of 2025. That would, of course, provide a revenue increase for the Federal government if it happens. But there are other actual and potential revenue raisers (family wealth erosion possibilities) in the works: Increased IRS staff and audits; IRS position on what constitutes a gift and the value thereof; and possible tax increases to keep the government afloat. It is imperative that attorneys and other family wealth advisors remain ahead of the curve to be able to keep our clients informed and able to combat significant wealth erosion.
Learning Objectives
- You will be able to describe to wealthier clients the importance of planning ahead.
- You will be able to discuss gift filing requirements.
- You will be able to explain to clients the risk of delay.
- You will be able to identify various trust and other gifting vehicles.
Agenda
2024 National Election
- Will a Republican Sweep Bring an Extension of the 2018 Tax Benefits?
- Will a Democratic Sweep Allow President Biden to Implement Proposals From His State of Union?
- Or Business as Usual (Whatever That Means)?
Has the Federal Government Gone Too Far?
- Is Every Change/Consent a Gift (See CCA 202352018)?
- Some Good News With the Recent Schlapfer Case
- The New Corporate Transparency Act
- IRS Staffed up
Wars and Rumors of Wars
- Where Does Money for Aid (at Home and Abroad) Come From?
- Senator Sanders 99.5% Bill Contains a Lot of Money-Raisers Ready to Be Enacted
- Estate/Basis Trade-off
Remote Control?
- Remote Executions (in Some States and in Some Cases)
- Can the Attorney Zoom in to ‘Officiate’?
- Advantages (and Disadvantages) of Working Remotely
Assuming We Will Be Approaching the Cliff at the End of 2025
- Portability Update
- Outright Gifts
- Gifts in Trust (GRAT, IDGT, QPRT, SLAT, CRT, CLT, CRUMMEY, DYNASTY, and More)
- Loan Conversion
- Defined Value Gifts
- Reporting and Possible Rescission
Speakers
Mark R. Shepherd,
Crist Biorn Shepherd Roskoph- Shareholder with the law firm of Crist, Biorn, Shepherd & Roskoph
- Clients include wealthy individuals, C and S corporations, limited liability companies, partnerships, and family foundations
- Provides tax opinions and tax dispute resolution
- Achieved the highest rating with Martindale-Hubbell Law Directory
- Lectures and teaches frequently in the areas of taxation and estate planning
- Wrote '2036(c)Alert' published in the Fall 1989 issue of the Golden Gate University Tax Exchange and co-wrote Estate Planning for Farmers and Ranchers, University of California Publication 21515, 1993
- J.D. degree, with honors, and LL.M. degree, Golden Gate University School of Law; B.A. degree, magna cum laude, San Francisco State University
Who Should Attend
This live webinar is designed for attorneys, estate planners, accountants, presidents, vice presidents, CFOs, controllers, business owners and managers, tax managers, financial planners, and enrolled agents.
