Understanding the IRS’s New Approach to Gifts Made to Irrevocable Trusts


Re-Broadcast on September 13, 2017

This practical program is designed to provide you with actionable insights on over three hundred pages of new IRS policies and procedures from both Treasury Regulations and PLR’s, related to contributions made to Irrevocable Trusts. In 2016, the Service issued substantial new guidelines which modified and clarified long standing code provisions relating to tax treatment of such contributions. You’ll hear from Jeffrey D. Katz, JD, LLM, as to what impact these changes have had on his practice. You’ll also gain insight on how understanding these changes can better monetize your estate planning practice and impact the bottom line for your practice.

Key topics to be discussed:

•   Best practices to understand tax treatment of gifts or contributions to irrevocable trusts
•   Systems and process for timing and completing the gift, and drafting efficiencies evidencing the gift with HotDocs and DocuSign
•   Go beyond the basics of gifting to the essentials of maximizing tax benefits for clients under the new regime
•   Ethical considerations to avoid abuse, and understanding what the IRS now considers to be abusive

Date / Time: September 13, 2017

•   2:00 pm – 4:00 pm Eastern
•   1:00 pm – 3:00 pm Central
•   12:00 pm – 2:00 pm Mountain
•   11:00 am – 1:00 pm Pacific

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•   Live Video Broadcast/Re-Broadcast: Watch Program “live” in real-time, must sign-in and watch program on date and time set above. May ask questions during presentation via chat box. Qualifies for “live” CLE credit.
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Jeffrey D. Katz, Esq., is the founder and managing partner of JDKatz, P.C. Jeffrey, a native of Baltimore, MD, received his undergraduate degree from The American University (Washington, DC), Law degree from the Chicago-Kent College of Law, and Masters of Taxation (LLM) from the University of Miami.

Jeffrey began his career with KPMG/Peat Marwick, LLP (now known as KPMG, LLP) at the firm’s Mid-Atlantic Tax Practice in 1998, and founded his own firm in 2000. Jeffrey’s prior tax and corporate engagements have included MCI/Worldcom, Symphony Communications, Sodexho/Marriott, Hechinger Co./Leonard Green & Partners, First Maryland Bancorp (now M&T Bank), B.F Saul Co. (Chevy Chase Bank), Crestar Bank, N.A. (now SunTrust), Genesis HealthCare (now NeighborCare), and Premier Publishing to name a few. Since entering private law practice, Jeffrey has continued to provide high-value representation in to corporate and individual clients alike, whether based nearby or from all corners of the globe. Jeffrey also represents “C” level executives, and their families in their personal and estate planning matters.

Jeffrey’s estate planning practice focuses on comprehensive planning which is both cost effective and impactful. He takes a special interest in charitable planning, and plans which allow grantors to impart their values to their beneficiaries. Jeffrey frequently serves as a Trustee, and has administered over $100 million in estates and trust assets.

Jeffrey is a frequent contributor to publications and periodicals, with recent articles having appeared in Bloomberg/BNA, Inc., The Washington Business Journal, and is a frequent speaker for NBI and myLawCLE.

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Understanding the IRS’s new approach to gifts made to irrevocable Trusts can be a formidable process for even the best attorney. With the increase in Federal Exemption, the IRS is focusing more on what it perceives as abusive practices to further shield otherwise taxable estates from the Federal Estate Tax.

We will review the IRS’s current position, and discuss how it squares with existing and previous case law. This CLE is a must-watch for the practitioner who wishes to expand their estates and Trusts practice and leverage annual gifting. This CLE is best suited for mid-level to experienced attorneys who want to reach deeper into their planning practice, obtain more high net worth clients, and better understand client’s goals and objectives while complying with the new rules and regulations.

Katz will review several HotDocs based Document Assembly Systems he uses to document gifts, and discuss the integration of such systems with electronic signature capture and third party escrow of documents (DocuSign) to expedite and independently verify timely execution AND completion of gifting strategies– all while helping to eliminate reinventing the wheel when drafting documents. This CLE does NOT cover basic estate planning, and is intended for viewers who are already familiar with basic concepts in Estates and Trusts law, and Annual Exclusion Gifting.
Finally, Katz will also review techniques to turbo-charge your estate planning practice with respect to retirement accounts, and provide practical solutions to automate drafting of IRA beneficiary designations and retirement plan trusts.

Key Takeaways:
• Best Practices for Compliance
• Incomplete, partially complete or partially incomplete gifts—What’s the difference and why does it matter?
• Consequences when a grantor is also a beneficiary?
• Splitting of Marital Trusts?
• Timing Considerations
• Ethical considerations.
• Document Drafting Best Practices in HotDocs—WealthCounsel vs. Practical Planning Systems
• Third Party Escrow of documents– DocuSign