Leading Estate Tax Experts Hesch and Gassman Outline Opportunities to Estate Tax Planners Arising from New Legislation in January BNA Webinar

ARLINGTON, Va., Jan. 3, 2011 /PRNewswire-USNewswire/ -- The repeal of the estate tax in 2010 and its reintroduction in 2011 with a $5,000,000 gift allowance and exemption rate opens the doors for significant planning and restructuring for high net wealth clients in 2011 and 2012, according to leading estate tax experts Jerry Hesch and Alan Gassman in 2011 Estate Tax Law Changes, a new webinar from BNA, January 6, 2011.

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Hesch and Gassman will demonstrate many of the mechanisms that can be used during this new two-year anomalies period, with specific inclusion of spreadsheets and charts that will be made available to participants who wish to show their clients the possible application of available trust formation and funding techniques.

"The recent passage of the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 has changed the playing field, but with only a temporary two-year fix," says BNA Tax & Accounting Managing Editor Harold Pskowski. "The Act has resolved the uncertainty for estates of decedents dying in 2010 by giving them a choice between no estate tax, but with carryover income tax basis, or the imposition of an estate tax with a $5.0 million exemption."

The new $5.0 million exemption, together with a 35% tax rate provides a striking opportunity for families who want to significantly reduce their exposure to federal Estate and Gift Taxes, both during the 2 year hiatus, and thereafter. Proper actions taken can help to insulate estates from the much feared return of the prior law in 2013 with a $1.0 million exclusion and a maximum 55% tax rate.  

This 75-plus minute webinar will provide participants with a conceptual understanding and practical application of the following:

• Options available for estates of decedents dying in 2010
• How generation-skipping transfers made in 2010 are affected by the new legislation
• The new exemptions and rates for the estate, gift and generation-skipping taxes
• The opportunities for tax-free gifting programs in 2010, 2011, 2012
• How the increased exemptions favor the creation of dynasty trusts
• The availability of estate tax exemption portability in 2011 and 2012

In just one webinar, participants will learn:

• How to maximize future estate tax avoidance by taking advantage of presently available planning strategies and a $5.0 million gift tax exemption using Dynasty Trusts and other effective techniques that will still be available at least in early 2011
• The continued merit of credit shelter trusts versus reliance upon exemption portability
• How to advise clients on generation-skipping transfers in 2011 and 2012
• Why this is an opportune time to review estate plans and rebalance assets and strategies
• How to advise estates of decedents dying in 2010 on whether to accept the estate tax or to elect the carryover basis regime

About the Speakers

Jerome Hesch, J.D, M.B.A., is Of Counsel with Carlton Fields in Miami, Florida and a BNA Portfolio author.  He has extensive experience as a tax and estate planning consultant, and his practice experience includes the use of captive insurance companies, financial derivatives, and energy tax credits. Hesch is a member of ACTEC and has published extensively, including several Tax Management Portfolios, and is co-author of a law school casebook on federal income taxation, now in its fourth edition. Hesch is also director of the Notre Dame Tax and Estate Planning Institute. His career includes service with the Office of Chief Counsel, IRS, and two decades as Law Professor with the University of Miami School of Law.

Alan S. Gassman, J.D., LL.M. practices law in Clearwater, Florida. Each year he published numerous articles in publications such as BNA Tax & Accounting, Estate Planning, Trusts and Estates, The Journal of Asset Protection, and Steve Leimberg's Asset Protection Planning Newsletters. Mr. Gassman is a fellow of the American Bar Foundation, a member of the Executive Council of the Tax Section of the Florida Bar, and has been quoted on many occasions in publications such as The Wall Street Journal, Forbes Magazine, Medical Economics, Modern Healthcare, and Florida Trend magazine. He received his B.A. degree in business from Rollins College and J.D. and Ll.M. (in tax) degrees from the University of Florida. He is the senior partner at Gassman, Bates & Associates, P.A. in Clearwater, Florida, which he founded in 1987.

2011 Estate Tax Law Changes will take place January 6, 2011, from 2:00 pm - 3:00 pm, ET.  To register for this webinar and obtain further information about CLE and CPE credits, go to http://www.bnatax.com/2011-estate-changes-webinar/?open&cmpid=tmtxpr2011. 0r call 1-800-372-1033, menu Option 6, then Option 1.  The per site fee is $249.

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About BNA Tax & Accounting Webinars

BNA Tax & Accounting is the foremost source of tax and accounting research, news, practice tools, and guidance for tax attorneys, CPAs, corporate tax managers, estate planners, and financial accountants.  Designed for today's busy practitioners, our webinars offer the same expertise and relevance that are the hallmark of all BNA Tax & Accounting resources. Conference attendees have the opportunity to ask the speakers questions, and may be eligible to earn CLE or CPE credits - all from the convenience of their own office or conference room.

SOURCE BNA Tax & Accounting