This panel will discuss numerous tax elections in estate and trust administration. You already may have heard about the marital deduction, alternate valuation, and section 6166. Those are all too common for this program. Here we will discuss some of the important—and even obscure—elections that you might not see on a regular basis. Join us on a journey through the depths of the Internal Revenue Code and the Treasury Regulations as we explore tips and traps for fiduciary income tax and estate tax elections. 

Clients today are more mobile than ever, and, intentionally and unintentionally, so too are their trusts. For a variety of reasons including but not limited to taxation, flexibility, asset protection, and privacy to name a few, clients are increasingly aware of the potential benefits of not only establishing new trusts in tax friendly jurisdictions, but also in the benefits of relocating existing trusts to trust friendly jurisdictions. This session will explore some common and not so common issues arising when clients, their assets and their structures cross state and international borders. 

This session will explore the intricacies of Incomplete Gift Non-Grantor (ING) Trusts amidst California's recent legislative amendments. Delve into the implications of these new laws, discern the disparities between federal and state regulations, and address the tax compliance considerations associated with these changes. 

The last several years have seen a flurry of changes for retirement accounts. These include changes for employers, savers, retirees, and post-mortem beneficiaries. A near constant flow of regulation and guidance to implement changes from Congress provide both clarification and complication. A timely update for practitioners is critical.

Please note this session will be broadcasted virtually.

This session delves into topics such as capital gains, tax affecting S-corps, and applying discounts for lack of control and marketability. 

Explore recent developments in CA audits, the Pass-Through Entity (PTE) Credit, and the implications of the CA Directed Trust statute. 

Discover insights on TCLATs, Graegin Loans, and the complexities of Form 6166. Learn strategies for effectively deducting interest, managing future expenses, and navigating recourse and non-recourse debt. Gain an understanding of 6161 relief for hardship deferral to enhance estate planning for high-net-worth clients and closely held businesses.