Learn more about how the Tax Cuts & Jobs Act affects estate planning practice. Topics discussed include: estate planning with the increased federal exemption (and possible sunset); changes to make to planning and documents (formulas, basis, use of federal, state and GST exemptions); building in flexibility to maximize basis step up; using powers of appointment to cause inclusion; and gifting.
Learn best practices for planning for the transition of a business through sale or transfer to the next generation, including how to effectively deal with family members both in and out of the business. Includes discussion of the impact of buy-sell agreements, valuation issues, and estate tax planning on succession planning.
Understand the countless strategies that advisors can recommend to their clients to effectuate charitable giving. In addition to the traditional entities like public charities and private foundations, a number of new charitable vehicles that have gained popularity over the last decade will be discussed, including : 501(c)(4) Organizations; L3Cs; Benefit Corporations; B-Corps; and Charitable LLCs
Learn how to plan for the risk that the Illinois estate tax might be assessed, even when the risk is a possibility rather than a probability. Consider several applicable estate planning techniques which will help reduce or eliminate the imposition of the Illinois estate tax for couples who have accumulated over $4.0 million of combined assets (including house, retirement benefits, life insurance, etc.). Understand portability under the federal estate tax.