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Generation-Skipping Transfer Tax Planning in InterActive Legal

June 28 @ 12:00 pm 1:00 pm EDT

Teresa L. Bush Esq.
Drafting Webinar

Subscriber Drafting Webinars provide continued training on various aspects of using the InterActive Legal software, usually focusing on drafting particular documents or using certain drafting options.  These webinars are free to ILS subscribers. They provide insight and training regarding specific documents and options available within the drafting systems. Subscribers will receive an email outlining the topic of each drafting webinar with instructions for registration.

Webinar Description

Estate tax planning is top of mind for planners representing high net worth individuals, but planning for the generation-skipping transfer (“GST”) tax should also be considered.  Many clients – and perhaps some attorneys – may mistakenly assume that the GST tax doesn’t matter if property is not being left directly to grandchildren.  However, taking advantage of the GST exemption can save millions of dollars in transfer taxation, so clients should at least have the option to build an estate plan that does not waste that exemption.  

In this drafting webinar, we will first cover a short primer of GST exemption planning, including how it saves transfer tax, the impact of wasting the exemption, and how to take advantage of and maximize the exemption.  

Users of Wealth Transfer Planning have formula-based GST tax planning options that we will cover in detail.  We will also discuss a “wait-and-see” approach to GST tax planning, including how the GST exemption can be utilized without formula gift (so that users of Elder Law Planning or Essential Estate Planning can draft documents that can potentially use the exemption as well).    

We’ll also cover how to generate a Reverse QTIP trust in Wealth Transfer Planning (and why they are used), and how to draft a bifurcated power of appointment for descendants (and why that might be useful).  And of course, we will take your questions on this topic as well.

Join us for what we hope is a helpful discussion of a complicated tax planning issue.


Continuing Education Credits

InterActive Legal is not an approved Continuing Education (CE) Sponsor. However, several states and regulatory agencies for a variety of professionals that participate on our teleconferences may still receive continuing education credit for their participation. If a participant wishes to receive CE credit for their participation in these teleconferences, they must apply to receive credit on their own and through their individual states and regulatory authorities. It is the responsibility of the participant to file for CE credit and is not guaranteed by the webinar sponsors.


Speaker Bio

Teresa Bush, Esq.

Teresa Bush joined InterActive Legal in 2007 and serves as Director of Education and Support Services.

Ms. Bush has been licensed to practice law since 1991, and focused her practice exclusively on issues of estate and gift tax planning, probate, charitable planning, and estate and trust administration. She began her practice in a small law firm, planning for clients of all levels of wealth. Thereafter, she practiced for a number of years in the Tax Section of Kelly, Hart and Hallman, P.C. in Fort Worth, Texas, and as an estate and gift tax consultant for the Dallas office of Ernst & Young, in both cases focusing on planning for very high net worth clients.

Ms. Bush received her J.D. from the University of Texas School of Law, where she was a research assistant for Professor Stanley M. Johanson. She studied at Edinburgh University and the London School of Economics prior to obtaining a B.A. in Economics and Political Science from Rice University in Houston. While studying abroad, she worked as an intern for a Member of Parliament in the British House of Commons.

Ms. Bush taught legal research and writing as a Teaching Quizmaster in law school, and later taught estate planning extension courses for American College of Financial Services CLU candidates. She has presented several online webinars on estate planning and drafting topics, and is the author or co-author of a variety of estate planning articles.

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