Estate Planning Tax Series

The Estate Planning Tax Series offered by InterActive Legal Academy is a practical introduction to estate, gift, and generation-skipping transfer taxation, and how to draft estate planning documents that minimize these taxes.

Countdown to Series Kick-Off on October 24, 2022

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This series focuses on the fundamentals of estate and gift taxation and foundational planning to minimize transfer taxes. The basic principles of generation-skipping transfer (GST) tax and income taxation of trusts and estates are also covered. Topics include: Credit shelter planning and portability, flexible planning using “Clayton” and “disclaimer” plans, lifetime gift planning, grantor trusts, and more. Classes meet three times per week over a four-week period. One-hour instructional sessions take place on Tuesdays and Thursdays at 1pm ET, followed by one-hour drafting workshops on Fridays, also at 1pm ET.

Over the four weeks, attendees will learn how the estate tax system works when a taxpayer dies, what property is subject to tax, how lifetime gifts impact estate taxes at death, and how to plan to minimize overall estate and gift taxation via the use of available exemptions and other strategies. Additionally, we will introduce the generation-skipping transfer tax, explaining what it is, when it applies, and how to maximize available exemptions. Later sessions will cover specific assets that have unique issues (such as IRAs, other retirement plans, and life insurance), and discuss the income tax consequences of various estate planning strategies.

When is this series presented?

The inaugural run of the Estate Planning Tax Series will be from October 24 to November 18, 2022 (“Fall 2022”), beginning with an informational session on Monday, October 24. Although no official dates are set, we anticipate presenting this series in the Fall of each year.

Who should attend this series?

This series is designed for those who have an understanding of basic estate planning concepts but wish to learn more about the various taxes that impact an estate plan, and how to plan for those taxes when designing and drafting estate plans. Attendees should have a passing knowledge of trusts, probate and non-probate assets, the role of fiduciaries (trustees and executors), and powers of appointment.

Who should NOT attend this series?

This series is intended to provide attendees with a foundation in tax planning for estate planning clients. It is ideal for those who are not familiar with those concepts and for those who need a refresher. It is not designed for those seeking information on advanced tax planning topics or techniques such as GRATs, QPRTs, SPATs, or charitable planning. Although minimal knowledge of estate planning concepts is required, this series is also not appropriate for those who have no prior knowledge of wills, trusts, or other estate planning basics (those who fall into this category should consider the Estate Planning Basics series offered in the Spring).

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