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Are You Utilizing the GST Rules to Maximum Advantage for Your Clients?



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Are You Utilizing the GST Rules to Maximum Advantage for Your Clients? 

With the current, high estate tax exemption, many practitioners believe “generation skipping” tax planning (keeping inherited assets out of the taxable estates of children) is no longer needed for most clients, just for very large estates.

However, the estate tax exemption could be frozen or even reduced after the 2020 election.  Even if this doesn’t happen, many married couples will likely underutilize the “generation skipping tax” (“GST”) exemption because it isn’t subject to portability. And keep in mind that inherited estates may grow during a child’s lifetime because, even in moderate-sized parental estates, trusts are often being set up for children, e.g., asset protection, divorce, blood-line distribution control or income tax reasons. 

The reality is, because of changes in the tax code, GST planning is appropriate in lots of estates when it wouldn’t have been not too long ago. But, this raises an important question: are you up to speed on the complicated GST rules and can you properly apply them?   

Join Bob Keebler in his exclusive LISI Webinar where he will teach you how to utilize the GST rules to maximum advantage for your clients. Here are just a few of the topics Bob will cover in his content-packed webinar:

·      Who are “skip persons” versus “non-skip persons”

·      What are “direct skips” versus “indirect skips”

·      The difference between the annual GST exclusion and life GST exemption amounts?

·      The automatic allocation rules?

·      When do you allocate the lifetime GST exemption amount to “indirect skips”?

·      How does late allocation of the lifetime GST exemption amount work?

·      How do you calculate the “inclusion ratio”?

·      How to split trusts into GST and non-GST shares via “qualified severance”?

Also, how to use the following techniques to maximize the benefits to your clients:

·      “IDGTs” - - How to use installment sales to leverage the GST exemption?

·      SPLIT DOLLAR - - How to use split dollar to even further leverage the GST exemption?

·      PREMIUM FINANCING - - Use bank premium financing to leverage life insurance policies in GST exempt trusts?

·      “HEET” TRUSTS - - How to use non-exempt trusts to pay for the health and education of skip-persons?

·      SALES BETWEEN NONEXEMPT AND EXEMPT TRUSTS - - How to use sales of assets between client trusts to reduce the GST?

·      TAX EXCLUSIVE GIFTING - - How paying gift and GST tax can result in a lower rate than paying estate and GST tax or two layers of estate tax?

·      GENERATION JUMPING - - How jumping over a generation of skip-persons can be very effective planning?

·      PARTNERSHIP FREEZES NOT SUBJECT TO THE GST RULES - - How to draft partnerships to shift wealth free of GST?



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Robert S. Keebler, CPA/PFS, MST, AEP (Distinguished) is a partner with Keebler & Associates, LLP and is a 2007 recipient of the prestigious Accredited Estate Planners (Distinguished) award from the National Association of Estate Planners & Councils. He has been named by CPA Magazine as one of the Top 100 Most Influential Practitioners in the United States and one of the Top 40 Tax Advisors to Know During a Recession. Mr. Keebler is the past Editor-in-Chief of CCH's magazine, Journal of Retirement Planning, and a member of CCH's Financial and Estate Planning Advisory Board. His practice includes family wealth transfer and preservation planning, charitable giving, retirement distribution planning, and estate administration. Mr. Keebler frequently represents clients before the National Office of the Internal Revenue Service (IRS) in the private letter ruling process and in estate, gift and income tax examinations and appeals. In the past 20 years, he has received over 250 favorable private letter rulings including several key rulings of """"first impression."""" Mr. Keebler is nationally recognized as an expert in estate and retirement planning and works collaboratively with other experts on academic reviews and papers, and client matters. Mr. Keebler is the author of over 75 articles and columns and editor, author, or co-author of many books and treatises on wealth transfer and taxation, including the Warren, Gorham & Lamont of RIA treatise Esperti, Peterson and Keebler/Irrevocable Trusts: Analysis with Forms. Mr. Keebler is the Chair of the AICPA's Advanced Estate Planning Conference. He is a featured columnist for CCH's Taxes Magazine - """"Family Tax Planning Forum,"""" Bob is also a contributing author to the American Bar Association's The ABA Practical Guide to Estate Planning. Robert.Keebler@KeeblerandAssociates.com


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