Estate Taxes II: The Marital Deduction, Credit Shelter Planning, and Portability, Introduction to Trusts & Estates

Private Client Partner Margaret St. John Meehan presented at The Introduction to Trusts and Estates Conference hosted by NYU SPS and the Division of Programs in Business. This program provides an understanding of the varieties of taxes and tax issues applicable to gratuitous transfers by individuals and trusts and estates.
 
She presented on the panel titled "Estate Taxes II: The Marital Deduction, Credit Shelter Planning, and Portability" and shared insights on how estate planning for spouses requires an understanding and appreciation of the unlimited marital deduction and how it can be used effectively in wills and trusts. While also highlighting legislative components from the Tax Relief Act of 2010, the American Taxpayer Relief Act of 2012, the 2017 Tax Cuts and Jobs Act, and federal regulations.
 
Key topics from this conference include:

•   The fundamentals of the estate tax, gift tax, and generation-skipping transfer tax, including inclusions and exclusions, common valuation issues, and typical resolutions
• Fundamentals of estate and trust planning for individuals and families of modest to ultra-high net-worth
• The ancillary impact of the estate tax rules including basis rules applicable to assets distributed from the estate to beneficiaries
• The basics and differences in planning before and after death, with emphasis on the relationship of the gift tax to the estate tax and planning opportunities involving spouses and family members
• Income tax planning in estates, trusts, and beneficiaries