Avatar Avatar

Prescriptions for Donor’s Remorse: Using Disclaimers and Other Techniques to Hit the “Undo Button” on Taxable Gifts



Watch Now!
Recording and Slides are Available Here


With the election bringing a change of administration in Washington, the control of the Senate still in the balance and the Treasury Department confirming the “use it or lose it” feature in the “anti-clawback” regulations, practitioners have understandably been counseling many clients on making large gifts to use their current $11.58 million exclusion before it disappears in 2026, or possibly earlier. 

What if the family later regrets it? How, why and when can a donor or donee simply undo a large gift?  How can a practitioner best prepare for it ahead of time?

In their exclusive LISI Webinar, Ed Morrow and Paul Hood take you through the maze of undoing gifts and the consequences involved! This webinar will explore the following topics:

  • How married donors can later decide whether to make a gift in trust qualify for the marital deduction or not – and why standard Clayton QTIP analysis is a deceptive and dangerous guide. 
  • Can spouses make “waterfall” disclaimers of intervivos gifts into multiple variations of trusts?
  • What are the clear statutory and regulatory guidelines on how to undo gifts and when may it be done well beyond nine months?
  • How do the rules for disclaimers for minors and those under age 21 work differently?
  • How should we caution clients to avoid “acceptance” that would preclude a valid disclaimer?
  • What are the important considerations when disclaimers may involve UTMA custodians, guardians, agents under powers of attorney or virtual representation statutes?
  • What about disclaimers by trustees?  Even if it’s possible, should you be wary?
  • What important features of disclaimer law may vary state by state?
  • What differentiates disclaimers from declining to take Crummey gifts?
  • Segregation strategies to undo gifts of assets that decrease in value yet keep the gifted assets than appreciate.
  • What trust clauses should be added to create contingency plans for disclaimers different from dispositions in the event a beneficiary dies?  Even (especially) for SLATs? 
  • Should non-qualified disclaimers cause a different disposition in the trust than qualified disclaimers to enable greater flexibility?
  • Can (should) trust protectors/decanting amend existing irrevocable trusts that received recent gifts to enable more creative disclaimers?
  • At what point could the IRS consider disclaimer strategies (especially in trust) to be abusive?  Could a disclaimant ever be considered a de facto agent of the donor?
  • What are the asset protection traps of disclaimers, even when state law does not consider them to be “transfers”?
  • When can gifts be rescinded (and still be effective for gift tax purposes)?

The composition and control of the Senate is still undecided.  No one knows exactly how the political and tax winds will change in 2021.  As practitioners, we should inform our clients of the most flexible options available to themselves and their family - both pre and post gift.  This should include a discussion of disclaimers of inter vivos gifts and the alternative dispositions that such disclaimers can accomplish with appropriate foresight. Don’t miss this timely and important webinar!!!



There will be no CE for this webinar


For those who have a conflict with the date/time, The session will be recorded. Simply register and you will have unlimited access to the recording.

Although they are scheduled for a particular time and date - once purchased - they can be viewed at ANY TIME!.

If you are not a LISI member please use the Buy Now Button below to pay the non-member price of $149*. *plus applicable sales tax (if any)

Registrant Email:

After you pay you will be sent a link with the registration information. Your webinar registration is designed for one individual user and groups up to 5 individuals. Sharing beyond this is not permitted. If you are interested in group access to our webinar content, please send an email to lisiwebinars@gmail.com

If you have any questions, please contact webinaradmin@leimbergservices.com

NOTE: To pay using a credit card, use the botton labeled
"Pay with Debit or Credit Card" after clicking the Buy Now button below.

If you are a LISI member, please login below to receive the member price of $129* for this webinar. *plus applicable sales tax (if any)

Forgot Password?

To become a LISI member Click Here



Avatar

Bob Keebler

March 3, 2021 3:00 PM ET - 4:30 PM ET ET

THE TAX ASPECTS OF DECANTING AND REFORMING TRUSTS

More Info
Avatar Avatar

Bob Keebler and Christopher Hoyt

March 3, 2021 1:00 PM ET - 2:30 PM ET

The SECURE ACT and the Charitable Remainder Trust - A Deep Dive - A Special Re-Broadcast

More Info
Avatar

Paul Hood

March 4, 2021 1:00PM ET - 2:30PM ET ET

Part 3 of Paul Hood's Six-Part Series on the Federal Transfer Tax System: Estate Tax Deductions

More Info
Avatar

Bob Keebler

March 4, 2021 11:00 AM ET - 12:30 PM ET

The Nitty-Gritty Details of Income Tax Basis - A Special Re-Broadcast

More Info
Avatar

Steve Siegel

March 04, 2021 3:00PM ET - 4:30PM ET

The Complete Trust Course: Part 1

More Info
Avatar

Eli Akhavan

March 05, 2021 1:00PM ET - 2:30PM ET

Structuring Foreign Ownership of US Residential Real Estate - Pitfalls and Solutions

More Info
Avatar Avatar

Michael Geeraerts Jim Magner

March 05, 2021 11:00AM ET - 12:30PM ET

Alternative Life Insurance Ownership Structures if Congress Takes a Swing at ILITs Using New Code Section 2901

More Info
Avatar

Eric Green

March 05, 2021 3:00PM ET - 4:30PM ET

Tax Liens & Tax Levies

More Info
Avatar

Paul Hood

March 11, 2021 1:00PM ET - 2:30PM ET ET

Part 4 of Paul Hood's Six-Part Series on the Federal Transfer Tax System: Estate Tax Credits; Estate Tax Reimbursement & Apportionment Provisions, Gift Tax Introduction & Overview of Generation-Skipping Transfer Tax

More Info
Avatar

Linas Sudzius

March 11, 2021 3:00PM ET - 4:30PM ET ET

How to Handle an Unexpected Form 1099-R Received from a Life Insurance Company/Financial Institution: Reconciling with all the Tax Partners

More Info
Avatar

Steve Siegel

March 12, 2021 1:00PM ET - 2:30PM ET ET

The Complete Trust Course: Part 2

More Info
Avatar

Linas Sudzius

March 18, 2021 3:00PM ET - 4:30PM ET ET

Private Letter Ruling 202031008 Opens Multiple Annuity Planning Opportunities

More Info
Avatar

Paul Hood

March 18, 2021 1:00PM ET - 2:30PM ET ET

Part 5 of Paul Hood's Six-Part Series on the Federal Transfer Tax System: Selected Gift Tax Topics; Overview of Generation-Skipping Transfer Tax

More Info
Avatar Avatar

Michael Liebeskind Bryan Bloom

March 19, 2021 3:00PM ET - 4:30PM ET ET

Private Placement Life Insurance (PPLI) and Private Placement Annuities (PPA) - A Major Tax Planning Opportunity for HNW Clients in 2021

More Info
Avatar

Steve Siegel

March 19, 2021 1:00PM ET - 2:30PM ET ET

The Complete Trust Course: Part 3

More Info
Avatar

Paul Hood

March 19, 2021 1:00PM ET - 2:30PM ET ET

Out of the Hood: Analysis With An Attitude©: Overview of Estate Planning From 30,000 Feet

More Info
Avatar

Eric Green

March 25, 2021 1:00PM ET - 2:30PM ET ET

The Biggest Mistakes Made During Tax Season that Trigger IRS Enforcement!

More Info
Avatar

Paul Hood

March 25, 2021 1:00PM ET - 2:30PM ET ET

Part 6 of Paul Hood's Six-Part Series on the Federal Transfer Tax System: Valuation: General Principles

More Info
Avatar

Mark Merric

March 26, 2021 3:00PM ET - 4:30PM ET ET

Understanding Tax Provisions in An LLC Operating Agreement - Formation Concepts Part 2: Capital Accounts Compared to Stock

More Info
Avatar

Steve Oshins

April 2, 2021 1:00PM ET - 2:30PM ET ET

The Spousal Lifetime Access Trust: A Gifting and Creditor Protection Technique, What Advisors Need To Know for 2021

More Info
Avatar

Mark Merric

April 23, 2021 3:00PM ET - 4:30PM ET ET

Understanding Tax Provisions in An LLC Operating Agreement - Formation Concepts Part 3: Deducting Losses and Four Tax Hurdles

More Info