The estate tax is voluntary. There is no reason for anyone’s heirs to pay it. Those who fail to plan; plan to fail. The tools needed to reduce the taxable estate to zero are readily available. In 1977 Columbia Law Professor George Cooper wrote an article for the law review entitled “A Voluntary Tax? New Perspectives On Sophisticated Estate Tax Avoidance.” In 42 years nothing has changed. Eliminate the need to pay a 40% estate tax and undergo an estate tax audit. We’ll examine common situations involving real estate, closely held businesses, and highly liquid portfolios.
The continuous need to file IRS Form 709 as you whittle the estate down to zero, The different aspects of private annuities, including the exhaustion ratio, The use of family limited partnerships to gain valuation discounts and to eliminate property tax reassessment on the surviving parent’s death, The use of SCIN-GRATs in combination; the use of GSD, The use of a children’s trust as a tool for the parents to remain in control.
An understanding of the general features of the estate and gift tax
This course is designed for CPAs who wish to guide their clients away from mere estate tax reduction to the Nirvana of estate tax elimination. The techniques are easy enough to understand. Mastering the techniques, of course, only comes with repetition.
Upon completion of the course the attendee will recognize the following estate planning techniques: usage of a private annuity, generational split dollar life insurance, SCIN-GRATs, family limited partnerships and the other tools used to get an estate to zero.
Non-Member Price $100.00
Member Price $75.00