GST Basics

Dive into the world of acronym trusts and their role in advanced estate planning. This session provides an overview of Grantor Retained Annuity Trusts (GRATs), Charitable Remainder Annuity Trusts (CRATs), Charitable Remainder Unitrusts (CRUTs) and other acronym trusts, highlighting their unique features and strategic applications. Additionally, explore the reciprocal trust doctrine, its implications in estate planning, and how to structure trusts to avoid triggering unintended tax consequences. Originally presented as part of Estate Planning Short Course 2025.

This introductory guide explains the fundamentals of the Illinois Estate Tax, including who is subject to the tax, exemption thresholds, and filing requirements.Originally presented as part of Estate Planning Short Course 2025.

Basis planning is a critical tool for minimizing tax liabilities and maximizing asset value during estate planning and transfers. This session will explore strategies to optimize basis adjustments, including step-up and step-down considerations, and their impact on capital gains and estate taxes. Gain insights into common scenarios, such as gifting versus inheriting assets, and learn how to structure transactions to achieve favorable tax outcomes for your clients. Whether planning for lifetime gifts or post-mortem transfers, this session equips attorneys with the knowledge to enhance the financial benefits of their clients' estate plans. Originally presented as part of Estate Planning Short Course 2025.