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This program covers the basics of using trusts to avoid estate tax for a married couple. It begins with a review of the often-overlooked non-tax reasons to use trusts, and explains in detail how A-B trust planning is used to achieve optimum estate tax results with revocable living trust. It provides a solid foundation for understanding current estate planning techniques to minimize both estate tax and income tax. Substantial time will be allowed for questions.
Attendees will leave with a solid fundamental understanding of the benefits and problems with use of A-B trusts, and will be ready to address more sophisticated estate planning concepts.
Learning Objectives
- Effect of loss of step up on assets in bypass trust.
- Uses and tax consequences of powers of appointment.
- Use of a limited general power of appointment to optimize basis step up on the second death.
- Use of Clayton provision to facilitate income tax planning.
- Adverse income tax consequences of non-grantor trusts.
- Use of a limited general power of appointment to make a beneficiary the grantor of a trust.
- Impact of the 2017 tax act on A-B trust planning, and related opportunities for CPAs.
- Why your clients need to have their formula-based trusts reviewed immediately.
Elissa Wurf ()
"Bill provided a very useful framework for understanding A-B Trusts. I have been trying to get a clear understanding for a year from various written materials. Now I finally feel confident that I have a clear understanding of the issues and can explain them to clients. Bill was also very helpful in answering a question by email after class."
Milton Cooley (Tax On Wheels, LLC)
"This is a good introductory lesson for those who do not regularly work in estate planning. The presenter carefully defined terms instead of throwing jargon at us that would just go over the heads of most introductory students."
Tudeth Morrow (TuMorrow CPA)
"Bill is very knowledgeable of Trusts and the strategies that might work best in different situations. I feel very confident referring clients to his practice."
Frank Ammirato (faa tax and financial consultant)
"As always great information and helps not only for business but to educate our society on the taxation system."
Jacqueline Wellington (Jackson Hewitt TDR)
"This was the best webinar! I'm glad it is in two parts. It made the information more digestible."
Saroop Virk (Snyder Cohn, P.C.)
"The presenter was very effective and provided valuable information. Look forward to Part II"
Geoffrey Huseas (Kohler & Eyre CPAs)
"This is a great presentation with very detail examples bringing everything together."
David Laudeman (Heckman & Laudeman, LLC)
"Excellent presenter, very knowledgeable and explained the material very well."
Bill Coyne
Boston Legacy Planning LLC
Founder
wcoyne@bostonlegacylaw.com
6176243350
William F. Coyne, Jr., Esq. is an attorney with Boston Legacy Planning LLC in Needham, Massachusetts. Bill’s practice is primarily in the areas of estate planning for individuals and business owners, legacy planning, trust settlement, and avoiding and resolving family disputes. He is a member of the National Network of Estate Planning Attorneys, and has taught at its semi-annual Collegium on topics such as income taxation of trusts, and dispute resolution. For the past several years, Bill has participated in a panel for Massachusetts Continuing Legal Education on the Massachusetts Uniform Trust Code, Trusts and Real Estate.
About Our Presenter
Boston Legacy Planning LLC is a law firm focusing on estate planning, business transition planning, and avoiding and resolving related disputes. The firm was founded in 2011 by attorney William F. Coyne, Jr.
The firm’s mission is to help clients create estate plans and business transition plans that achieve their life goals for themselves and for their families. To do this we apply the Bedrock Principles of Legacy Planning to avoid the common reasons why estate plans do not work.
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