Session 1: Estate and Gift Tax Basics
Airing on Tuesday, October 1st @ 1 pm ET
This session is part of the InterActive Legal Academy Estate Planning Tax Series
Faculty
Michael L. Graham Esq. and Teresa L. Bush Esq.Course Description
This session will cover the basics of estate taxation – what is taxed, how estate taxes are calculated, and how lifetime gifting impacts estate taxation. We will also introduce the estate tax exemption and the marital and charitable estate tax deductions.
- What is included in the gross estate?
- The inclusion “strings” – 2036, 2038, 2041
- Introduction to marital and charitable deductions
- Gift taxation
- Introduction to the estate and gift tax exemption
- When does estate tax planning makes sense?
Faculty Bios
Michael L. Graham is Chairman of InterActive Legal and practices law with the Houser Firm in Dallas, Texas.
Mike has been continuously Board Certified in Estate Planning and Probate by the Texas Board of Legal Specialization for 40 years. He became a full partner at age 30 in one of the largest, most respected law firms in the US, Baker & Botts, and became a Fellow of the American College of Trust and Estate Counsel at age 34. MIke has served as Chair of the Texas Bar Association’s Real Property, Probate and Trust Law Section, the Houston Bar Association’s Probate Section, and the Dallas Bar Association’s Probate Section. Other professional contributions include Supervisory Council Member of the American Bar Association’s Real Property, Probate and Trust Law Section and President of the Texas Academy of Probate and Trust Lawyers.
In his practice at the Houser Law Firm, Mike limits his current focus to matters involving business and estate planning, administration of estates and trusts, and fiduciary based litigation. He has practiced at both large, international firms and small boutique firms over the last 44 years. He received his J.D., cum laude, from Baylor School of Law (1972), and his BBA from Baylor University (1971).
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.