Learn how to effectively plan with intentionally defective grantor trusts and know the tax issues related to them.
Many high-net-worth individuals have exhausted their lifetime exclusion from gift and estate taxation. So, gifting additional funds to a trust or to loved ones will then generate gift tax. Likewise, when appreciating assets are left in one's estate after exhausting the federal estate tax exclusion, assets in excess of that exemption amount will generate estate tax in accordance with the full fair market value of all of a person's assets as of that person's date of death. This course will introduce the Intentionally Defective Grantor Trust (IDGT) as a tool to help high-net-worth individuals transfer appreciating assets out of their names to leverage their estate and gift tax exemptions. The material will also explain the sale to the defective grantor trust as a method to achieve estate and gift tax savings. This information is critical for attorneys, accountants, and estate planners to assist their clients with maximizing tax savings using the sale to the intentionally defective grantor trust as a tool to leverage the estate and gift tax exemption.
Charles Bryan Baron, Esq.
McLaughlin & Stern, LLP
- Partner, McLaughlin & Stern LLP, New York, NY
- Trusts, estates, and taxation practice
- Named expert in the law of New York Private Trusts, 2004
- Author of “Self Dealing Trustees and the Exoneration Clause: Can Trustees Ever Profit from Transactions with Trust Property,” 72 St. John’s Law Review 43 (1998) and “The International Legal Status of Jerusalem,” 8 Touro International Law Review 1 (1998)
- Translator-interpreter at the John Demjanjuk war crimes trial in Israel, 1987
- Member of the New York Bar, United States District Court for the Southern District of New York, United States District Court for the Eastern District of New York, United States Tax Court, and the United States Supreme Court
- B.A. degree in international relations, magna cum laude, University of Pennsylvania; LL.B. degree, Bar Ilan University Faculty of Law; LL.M. degree, summa cum laude, Touro University Law Center
- Can be contacted at [email protected]
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