Program Details
2025-08-27 13:00:00
Over 1,000+ webinars
Course Overview
2025-08-27 13:00:00
2h CLE Credits
Intermediate
2
1:00 pm - 1:30 pm ESTThis session examines how the permanently increased $15 million estate tax exemption under the One Big Beautiful Bill Act can create unintended consequences in existing estate plans with formula bequests. Attorneys will learn practical solutions including override provisions, caps, and percentage-based allocations to protect beneficiaries from disinheritance.
1:30 pm - 2:00 pm ESTExplore strategies for utilizing the additional $1.01 million GST exemption available in 2026 through late allocations to improve inclusion ratios on existing trusts. This session covers applicable fraction calculations, filing requirements, and timing considerations to eliminate GST tax exposure on trust terminations.
2:10 pm - 2:40 pm ESTLearn how to manufacture tax-free basis step-ups by strategically structuring powers of appointment to cause estate inclusion without incurring estate tax. This session compares presently exercisable general powers versus Delaware tax trap strategies, weighing creditor exposure risks against asset protection benefits.
2:40 pm - 3:10 pm ESTAnalyze the surprising income and transfer tax pitfalls of terminating irrevocable trusts, including lessons from the McDougal QTIP case and IRS private letter rulings on trust commutation. Attendees will understand why termination transactions can trigger gains exceeding built-in appreciation and learn alternative planning approaches.
Requirements
The Alabama State Bar MCLE Commission requires attorneys to complete 12 credits, including 1 ethics, by December 31 of each year. All credits must be reported by February 15 of the following year. A maximum of 12 credits, including 1 ethics credit, may be carried over for 1 year only.
Formats
