Terminating and Funding Subtrusts
Given the new estate tax environment, when should a 706 be filed for a non-taxable estate—even if not required—to take advantage of QTIP and portability elections? The determination will play a pivotal role in the sub-trust funding.
Dive into subtrust funding on the death of the first spouse in the context of a joint revocable trust; the effects of different estate planning techniques on subtrust funding; spreadsheets for subtrust allocation; and analyze a hypothetical fact pattern using spreadsheets. The course will also cover income tax issues related to funding; opportunities presented by QTIP; portability elections; marital deduction and generation-skipping formulae; and stale trust funding.
Formerly titled: Subtrust Funding Workshop
- Delaware Tax Trap for step-up in basis
- Portability elections and QTIP elections timing
- Affect of the 11.2 million exemption on administration
- Timing of funding
- Allocation of family residence
- Dealing with large IRAs
- Stale trust funding
- Recognize portability and QTIP elections and the effect on subtrust funding.
- Affect of the 11.2 million exemption on the Trust Administration.
- Determine the targeted dollar amounts to be put into subtrusts and use spreadsheets to do the same where there is a three trust division.
- Understand the marital deduction and generation-skipping formulae.
- Identify particular assets to be put into different subtrusts and consider the rationale for each particular subtrust.
- Determine how to use of hypothetical facts in funding.
CPAs, attorneys, tax professionals and trust or estate planners.
Applicable if you are a HSCPA member in good standing.
Applicable if you are not a HSCPA member.