Get an overview of the current gift and GST tax exemptions and potential planning opportunities for clients who wish to make tax-free gifts before year-end.
What You Will Learn
The Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 (aka TRA 2010) created significant but temporary reductions in estate and gift taxes. The exclusion amount of $5,000,000 plus lower tax rates have created opportunities for individuals to transfer wealth and save thousands, or even millions of dollars in taxes—but only through December 31, 2012—absent further legislation.
Join experienced practitioners Marya P. Robben, Partner, Lindquist & Vennum PLLP, Minneapolis, and Adam K. Sherman, Partner, McDermott Will & Emery LLP, Chicago, for a look at the current status of gift and GST tax exemptions---and a practical review of ways your client might use the increased exemptions and lower tax rates to transfer wealth while minimizing tax liabilities.
Total 60-minute hours of instruction: 1.0; Total 50-minute hours 1.2
Suggested Prerequisite: Two to four years’ experience in subject matter
Educational Objective: Acquisition of knowledge and skills to develop proficiency as a practitioner; maintenance of professional competence as a practitioner; provision of information on recent legal developments