Introduction to Trust and Estates 2025 (presented by NYU School of Professional Studies) [Day 2]

This session introduces the federal estate tax infrastructure and wealth taxation fundamentals. Coverage includes tax rates, credits, recent statutory changes, and what constitutes the gross estate including powers of appointment, life insurance, and retained interest transfers.

Explore the unlimited marital deduction and its effective deployment in wills and trusts for spousal planning. The session covers bypass trusts, applicable exclusion amounts, and portability rules under recent tax legislation.

This presentation highlights rules governing estate tax deductions including debts, administration expenses, and taxes. The charitable deduction is explored as a planning tool through CRATs, CRUTs, CLATs, and CLUTs.

Estate planning now demands mastery of income tax effects on capital gains and inherited wealth. Learn what basis is, when step-ups and step-downs occur, and how basis functions in family limited partnerships.

Explore federal income taxation fundamentals for estates and trusts including Form 1041 components. Topics include simple vs. complex trusts, capital gains treatment, DNI, and charitable deduction rules.

The gift tax complements estate tax and is essential knowledge for trust advisors. Learn about completed gifts, annual exclusions, disclaimers, Crummey trusts, gift splitting, and filing requirements.

Seventy percent of Americans over 65 will need long-term care, and over 56 million live with disabilities. This session covers Medicaid eligibility, planning techniques, and third-party supplemental needs trusts.

Technology challenges estate planners’ ability to manage digital assets effectively. Learn about RUFADA legislation, fiduciary access requirements, and best practices for planning with digital assets and cryptocurrency.

An essential primer for advising clients with international contacts on wealth tax impacts. Topics include non-citizen spouse rules, QDOTs, foreign trusts, FIRPTA, and FBAR compliance requirements.

The GST tax critically affects high-net-worth planning and cannot be ignored by advisors. Learn characterization of generation skips, exemption allocation, inclusion ratios, and dynasty trust planning strategies.

Many states impose their own estate and inheritance taxes creating surprises for beneficiaries. This session examines state tax exposure, trustee and beneficiary residence impacts, and multijurisdictional dynasty trust planning.

Grantor trusts serve a special role in sophisticated estate planning for wealthy clients. Compare GRATs and sales to intentionally defective grantor trusts while exploring what makes trusts qualify as grantor trusts.

Fair market value is fundamental to estate planning and administration yet frequently misunderstood. This session emphasizes valuation of closely-held businesses, FLPs, and Chapter 14 special valuation rules.

Executors face numerous tax options and elections that are often overlooked, costing families unnecessary taxes. Learn about fiscal year elections, alternate valuation, payment deferrals, and income vs. estate tax deduction strategies.