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Wealth Transfer Taxes Among Beneficiaries

Gain valuable insight and understand solutions to wealth transfer taxation among beneficiaries to better advise your clients.

There are a surprising number of inadvertent transfers between beneficiaries of commonly used trusts. This results in the loss of estate tax exemption status or imposition of gift estate or generation tax. When these taxes are not planned for, the result can be anything from embarrassing to devastating for the practitioner. The intention of this topic is to assist you in avoiding these errors in drafting and advising beneficiaries of trusts, and help to aid trustees in understanding the underlying issues and present practical solutions for both drafters and trustees to avoid these common problems.

88 minutes
Certificate of Completion
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Why Lorman?

Over 34 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

Lapse of a Power

  • Technical Issue
  • Common Application
    • Lapse of Demand Right or Crummey Power
    • Lapse of Hanging Powers
  • Solutions
    • Use of Exemption
    • Reliance of 5 & 5 Powers
    • The Imbedded Separate Share in a Demand Right Trust
    • Seeding the Trust

Powers of Appointment

  • General Powers of Appointment
  • Limited Powers of Appointment
  • Lifetime Powers vs. Testamentary
  • Issues and Solutions

Generation Skipping Transfer Taxes

  • Taxable Terminations
    • Purposeful Terminations
    • Inadvertent Terminations
    • Lapses and GSTT
  • Inclusion Ratio Issues
  • Solutions
    • Planning Solutions

Postmortem Clean-Ups

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Why Lorman?

Over 34 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 Course

Applications have not yet been submitted for Delaware, Idaho, Kentucky, Maine, New Hampshire, Ohio, Oklahoma, South Carolina, and Wyoming CLE for this course. However, if you are interested in obtaining CLE for any of the listed states or have any additional credit questions please email us at [email protected] or call us at 866-352-9540.

This course was last revised on July 26, 2019.

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

  • NM CLE 1.5
     
  • This program has been approved by the New Mexico Minimum Continuing Legal Education Board for 1.5 hours of credit.
     
  • WA CLE 1.5
     
  • This program has been approved by the Washington State Board of Continuing Legal Education for 1.5 hours of A/V credit under the Law & Legal Procedure category.
     

To earn each credit Lorman offers through the OnDemand learning platform, you need to watch 100% of the program. Also, for certain credits you will need to fulfill additional requirements which will be displayed on the "credits" tab when viewing the course.

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

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Why Lorman?

Over 34 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

Kevin D. Quinn, J.D.

Kevin D. Quinn, J.D.

Legacy Counsellors, P.C.

  • Founder and president of Legacy Counsellors, P.C., an estate and business planning law firm, serving successful individuals and families throughout the country
  • AVVO, superb rating
  • Member of the Wealth Counsel and Elder Counsel
  • Accomplished estate and wealth strategies planner
  • Founder and instructor of Wealth Strategies Institute, LLC, a professional education institute which provides continuing education to Certified Public Accountants, Certified Financial Planners, attorneys, development officers and insurance professionals
  • Frequent speaker and has written and collaborated on numerous publications including Generations, Strictly Business, and Giving
  • Has successfully implemented the strategies presented in numerous jurisdictions for 20 years
  • Graduate of the Esperti Peterson Master’s Program
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Why Lorman?

Over 34 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.

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  • State Specific Credit Tracker
  • All-Access Pass Course Concierge

Questions? Call 877-296-2169 to speak with a real person.

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Product ID: 405819
Published 2019
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