Hispanic families are one of the fastest-growing communities in the U.S.—but unique cultural values around family, inheritance, and faith can complicate traditional estate planning. This program will feature a discussion with Sonia Muñoz Gallagher, Esq., and estate and special needs attorney in Florida, exploring the intersection of estate planning and administration and cultural sensitivity when advising Hispanic families.

This webinar will provide a discussion of a wide range of current estate planning topics in the post-OBBBA environment. Non grantor trusts can be used to maximize charitable contributions and SALT and other OBBBA benefits. Non-grantor SLANTs are an important technique, but who qualifies as an adverse party? Terminating existing trusts for basis step up has become a conversation topic with many clients, but does it make sense? When and how might it be accomplished? What are the pros/cons and considerations of terminating a trust?

Senator Chris Van Hollen introduced the Strengthen Social Security by Taxing Dynastic Wealth Act, which includes significant cuts to the high estate and gift tax exemption. Under this proposal the federal estate tax exemption could drop to $3.5M, the gift exemption could drop to $1M, and transfer tax rates could increase to 45%. With the potential for a change in control in Congress in the upcoming elections, and the clever tie in of estate tax changes to fund Social Security which cannot be permitted to lapse, practitioners should not ignore this proposal.