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Estate planning for clients who have blended or stepfamilies often presents significant and perplexing challenges for estate planners in the substantive planning. As if that was not difficult enough, estate planners may also encounter important ethical issues.  This webinar will discuss the often-counterintuitive ethical traps and landmines that estate planners face when working with blended or stepfamily clients.

On April 27, 2022, the IRS released proposed regulations that follow up on the initial “Anti-Clawback” regulations released in 2019.  The proposed regulations provide guidance on how various estate planning strategies may be treated in situations where the unified estate and gift tax exemption is lower on the taxpayer’s date of death than it was on the date the strategy was implemented.  Since lifetime gifts are factored into the estate tax calculation, planners were rightly concerned that a lifetime gift might not have the desired tax effect if the client died when the exemption was lower, bringing the large gift back into the estate but with a lower date-of-death exemption used for calculation purposes.