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Tax Reform Updates for Estate, Gift and Generation-Skipping Taxes

Learn the updates that are taking place for estate, gift and generation-skipping taxes prior to the tax reform. The Tax Cuts and Jobs Act of 2017 made significant changes to the Internal Revenue Code, but the changes to the estate, gift and generation-skipping transfer tax regimes were much more subtle. The estate tax still remains in place, despite proposals of its full repeal, though the number of estates subject to the tax has decreased dramatically. For those individuals with significant wealth, an understanding of how the new estate tax law works is paramount. This topic provides an overview of the federal transfer tax system, who is affected by it, and how the new tax law temporarily reduces the burden of such taxes. This content will also provide estate planning strategies to take full advantage of increased exemption amounts before the changes sunset.


Runtime: 89 minutes
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Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Overview of the Federal Transfer Tax System

  • Estate Tax
  • Gift Tax
  • Generation-Skipping Transfer Tax
  • Step-up in Basis

Calculation of Tax Under Old System

  • Exclusion Amounts and Inflation Adjustments
  • Deductions
  • Tax Rates

Changes to Transfer Tax Under Tax Cuts and Jobs Act

  • Temporary Increases in Exclusion Amounts
  • New Inflation Adjustment Rules

Estate Planning Strategies

  • Gifting With Increased Exemption
  • Use of Trusts
  • State Estate Taxes
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Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Webinar

This course was last revised on March 23, 2018.

Call 1-866-352-9540 for further credit information.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

Audio & Reference Manual

  • AK CLE 1.5
     
  • Arizona CLE 1.5
     
  • CA MCLE 1.5
     
  • CT CLE 1.5
     
  • GA CLE 1.5
     
  • HI CLE 1.5
     
  • IL CLE 1.5
     
  • ME CLE 1.5
     
  • MO CLE 1.8
     
  • MT CLE 1.5
     
  • NJ CLE 1.8
     
  • NM CLE 1.5
     
  • NV CLE 1.5
     
  • NY CLE 1.5 including Areas of Professional Practice 1.5
     
  • UT CLE 1.5
     
  • VT CLE 1.5
     
  • WA CLE 1.5
     
  • WV MCLE 1.8
     
The CLE Code is ONLY a requirement when applying for CLE Credit in California (for participatory credit), Kansas, New Jersey or New York. Other states do not need to supply the CLE Code to apply for CLE credit.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

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Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Joshua E. Steinberg, Esq.

Joshua E. Steinberg, Esq.

Duane Morris LLP

  • Attorney in the Wealth Planning Group at Duane Morris LLP
  • Practice focuses on domestic and international estate and tax planning for high net worth individuals and families, as well as the administration of estates and trusts
  • Conducts regular seminars and workshops on trusts and estates and tax law
  • Author of several publications related to trusts and estates and tax law
  • Member of the New York State Bar Association
  • J.D. degree, Fordham Law School; LL.M. degree, Taxation, NYU School of Law; B.A. degree, Columbia University
  • Can be contacted at [email protected] or (212) 471-4729
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Product ID: 402179
Published 2018
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