On January 1, 2010, through a failure to act, Congress enabled the repeal of estate and generation-skipping transfer tax. This leaves attorneys and their clients scrambling to determine what they should do in the state of limbo in which they currently find themselves. All attorneys must be concerned about what the changes mean, what changes might be coming when Congress does choose to act, and how to make certain they are protecting their clients in the interim.
Recorded Feb. 23, 2010 as a "webinar" (telephone plus slides) this is your opportunity to find out what you need to know about the elimination of estate tax, the arrival of the carry over basis, and the general uncertainty in which all estate attorneys find themselves at this time.
NOTE: Tuition for this course is reduced; no CLE credits are available.
Program Schedule
30 minutes What are the changes in the law?
Federal Law
Correlation to Pennsylvania Law
15 minutes What does the future hold?
Changes Congress is considering
30 minutes Practical suggestions for protecting your clients
15 minutes Questions and Answers
What will you learn?
Find Out About the Changes in the Law
What does eliminating the stepped-up basis mean?
How does the loss of generation-skipping transfer tax affect your clients?
Should you make generation-skipping transfers now?
What is the impact of the elimination of alternate valuation mean both federally and in Pennsylvania?
Obtain Practical Suggestions for Handling the Changes
What should you tell your clients
Interim measures you should take
What happens to the treatment of income in respect of a decedent
What happens if someone passes away during this uncertain time period
What is the malpractice risk?
Should existing wills and revocable trusts be changed, and if so, how?
What should we do about existing irrevocable trusts?
How do we administer estates of decedents dying in 2010?
How do we factor in the possibility that Congress might try to re-enact these taxes retroactively?
Can we simply ignore all of these questions for now, and wait and see what happens?
Faculty
Vincent F. Lackner, Esq., Attorney and President, The Lackner Group, Inc., Pittsburgh
