Date: Aug. 8 - 9, 2024
Time: 8:15 a.m. – 4:40 p.m. PT
As a financial advisor, your clients rely on you to provide perspective and clarity as legislation and regulation evolve. Take advantage of this annual conference dedicated to keeping CPAs, attorneys and financial planners on top of recent estate and trust planning developments. You'll gain an in-depth understanding of best practices, practical strategies, and connections with expert professionals specializing in this area.
This is an encore broadcast of the Estate and Trust Planning Conference, which took place on July 11-12, 2024.
1000003242
Virtual
CPAs, attorneys and financial professionals involved in estate and gift tax planning and compliance; other estate planning professionals; practitioners with high net-worth clients and clients with interests in closely held businesses.
Taxes
Intermediate
Basic to advanced understanding of estates and trusts.
This session will cover the latest estate and trust planning updates, focusing on the Directed Trust Statute and the Corporate Transparency Act. Stay informed on these critical topics to better serve your clients and enhance your practice.
During this presentation we will explore the seven key risk mitigation strategies that, if adopted, can dramatically reduce the risk of the trust/estate administration.
On June 29, 2023, the Governor signed into law Probate Code Sections 16320 -16383 to become effective January 1, 2024. These new state statutory accounting rules repeal the California Uniform Principal & Income Act (UPIA), add new features, and rearrange the structure and order of the prior code. This presentation will review portions of this new Code and focus both on the similarities and the differences between the two sets of fiduciary accounting rules.
This session will cover three topics: (1) How distributed net income is allocated to a beneficiary who dies during the taxable year, (2) planning issues in selecting a fiscal year-end for an estate (and perhaps a trust) and (3) the six income tax issues that must be addressed in funding sub-trusts and bequests.
This session will address the “hot topic” of the Spousal Lifetime Access Trust. Why is it a good idea? How should it be constructed? Where are the potential problems? and How can they be addressed? … will all be discussed.
Don't miss the opportunity to engage with industry leaders. Bring your inquiries and gain invaluable insights from seasoned professionals in this interactive session.
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. Clients are also acquiring assets, families and tax residency outside of their home countries with results that are often surprising (often in a most unpleasant way) to the clients and their advisors, and this is especially the case with respect the client’s estate planning structures. Structures that are commonplace and work seamlessly in the client’s home country may not perform as advertised when it travels abroad (what do you mean that all of the income of my Panamanian foundation is taxable to me in the US as a grantor trust OR my US estate planner just triggered UK inheritance tax on funding my revocable trust). 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.
This session covers key aspects of capital gains, the tax affecting of S-corporations, and the application of discounts for lack of control and marketability, with a detailed analysis of the Michael Jackson Estate case. The discussion includes built-in gains tax liability for C-corps and recently converted S-corps, the evolving methodology in tax affecting S-corps as seen in recent case law like Cecil, and the principles and impacts of discounts for lack of control and marketability. The Michael Jackson Estate case is highlighted for its significant discrepancies in valuation and the importance of reasonable foreseeability as of the valuation date.
This session explores recent developments in California audits, the Pass-Through Entity (PTE) Credit, and the implications of the California Directed Trust statute. It will cover the California Uniform Directed Trust Act, practical applications of directed trusts, the PTE Elective Tax, and recent Franchise Tax Board audits and notices.
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.