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A Planner's Cheat Sheet for Evaluating Estate Planning Tools & Techniques: Part 1



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On Thursday, August 6th, Paul Hood and Ed Morrow will deliver Part 1 of their 3-part series "A Planner's Cheat Sheet for Evaluating Estate Planning Tools & Techniques." To register for Part 1, use the Buy Now button on this page. You can register for the entire series at a special limited time discount by Clicking This Link

The purpose of this three part series is to provide a unique analysis of most of the major estate planning tools and techniques currently in use, and it covers 38 different estate planning tools and techniques presently in use, from wills to self-cancelling installment note sales to intentionally defective grantor trusts, and all points and acronyms in between! Paul Hood and Ed Morrow will analyze each tool and technique with up to the same set of criteria and compare some of them to other tools and techniques to give the practitioner a veritable cheat sheet for quickly considering tools and techniques for clients, including:

  • Advantages.
  • Disadvantages.
  • Assets best suited for the tool.
  • Assets generally not well suited for the tool.
  • Need for independent valuation.
  • Cost and importance of implementation and ongoing administration.
  • Cash flow requirements of assets used in the tool.
  • Cash flow requirements of client and client’s spouse and family if the tool is used.
  • Estate tax risks and consequences.
  • Gift tax risks and consequences.
  • Income tax risks and consequences.
  • Clients for whom the tool generally works best.
  • Clients for whom the tool generally may not work.
  • Whether the tool is “age, interest rate or health sensitive.”
  • Best recipients of the transfer made by the tool.
  • Asset protection, if any, offered by the tool.

Session 1 will cover:

  • Introduction.
  • Introduction of tripartite hermeneutic for design of techniques.
  • Admonition about irrevocable lifetime planning.
  • Importance of the “fit” and hitting the “sweet spot.”
  • Difference between “bet to live” and “bet to die” tools.
  • Wills.
  • Powers of Appointment.
  • Joint Tenancy with Right of Survivorship.
  • Pay on Death (POD)/Transfer on Death (TOD) Arrangements.
  • Direct Gifts.
  • Revocable Trusts.
  • Portability.

Session 2 will cover:

  • Supercharged Credit Shelter Trust℠.
  • Life Insurance Trusts.
  • Qualified Personal Residence Trust (QPRT).-
  • Grantor Retained Interest/Income Trust (GRIT).
  • Domestic Asset Protection Trust (DAPT).
  • Installment Sale.
  • Private Annuity.
  • Self-Cancelling Installment Note (SCIN/DTIN).
  • Intentionally Defective Grantor Trusts (IDGT).
  • Beneficiary Defective Irrevocable Trusts (BDIT).
  • Guarantee or Loan.
  • Opportunity Shift.
  • Grantor Retained Annuity Trust (GRAT).
  • Installment Sale to IDGT/BDIT.
  • Family Partnerships/LLCs.

Session 3 will cover:

  • Inter Vivos QTIP Trusts.
  • Optimal Basis Irrevocable Trust (OBIT).
  • Split Purchase.
  • Preferred Partnership Freeze.
  • Spousal Lifetime Access Trust (SLAT).
  • Spousal Lifetime Power of Appointment Trust (SPLAT).
  • Incomplete Gift non-Grantor Trust (DING/NING).
  • Estate Equalization Among Spouses.
  • Skipping Generations.
  • Limited Power of Appointment Lid.
  • Incentive/Disincentive Trusts.
  • Joint Estate Step-Up Trust (JEST)
  • Private Annuity Trusts/Unitrusts.
  • Gift-Splitting.
  • Tandem Techniques.
  • Split Dollar (Loan Regime).

 



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