The Bessemer Trust to host estate planning conference call - January 6 at 1pm EST.
ESTATE PLANNING UPDATE: Estate Tax Repeal and Planning Considerations for Defined Value Clauses in Light of Petter and Christiansen
Two of the biggest developments in the estate tax world over the last several years have occurred within just the last month. First, Congress apparently will allow the estate and GST tax to fall into the one-year repeal of 2010 rather than extending the 2009 system (or another system) for some period of time. This wreaks havoc and "massive, massive confusion", in the words of Senate Finance Committee Chairman Max Baucus. Second, we have been waiting for years for courts to address the IRS's public policy arguments against defined value clauses, and we now have two cases (Petter and Christiansen) that have rejected those arguments (at least in certain situations).
Please join Steve R. Akers, Associate Fiduciary Counsel, for a conference call discussing planning implications in light of these developments. Topics include:
Gift planning opportunities in early 2010 in light of the top 35% rate
GST planning opportunities in early 2010 (including with GRATs) when there is no GST tax system in place
Will construction issues
Implications of the possibility of legislation sometime in 2010 retroactive to January 1, 2010
Possible elimination of surviving spouses from estate plans under formula marital deduction clauses
How best to structure defined value clauses in light of Petter and Christiansen
Wednesday, January 6, 2010
1:00 PM Eastern
A summary will be posted to www.bessemertrust.com/legacyplanning shortly before
Posted by Marc Patterson, Managing Associate Editor, Wealth Strategies Journal.