ARLINGTON, Va., Dec. 21, 2010 /PRNewswire-USNewswire/ -- Ever since the passage of EGTRRA in 2001, estate planners have had to deal with the uncertainty of a changing estate tax. The repeal of the estate tax in 2010 and its reintroduction in 2011 (with a smaller exemption and higher rates) had the effect of discouraging planners and their clients from engaging in long-term planning. On December 29 and again on January 6, leading estate tax authority Alan Gassman will facilitate a new BNA Tax & Accounting webinar, Estate Tax Law Changes in 2011, focusing on the opportunities offered for planners by recent changes enacted for 2011 and 2012.
"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, applies to estates of those dying in 2011 and 2012, as well as to gifts and generation-skipping transfers made in those years. Then, in 2013, the pre-EGTRRA law will return with a $1.0 million exclusion and a maximum 55% tax rate.
This 60-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 and 2011
- 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
- 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 Speaker
Alan S. Gassman, J.D., LL.M. practices law in Clearwater, Florida. He has 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, on topics such as Medical Practice Planning, Physician Planning, Tax Planning, Creditor Protection, and associated topics. 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.
Estate Tax Law Changes in 2011 will take place December 29, 2010, from 2:00 pm - 3:00 pm, ET and be repeated January 6, 2011 at the same time. To register for this webinar and obtain further information about CLE and CPE credits, go to http://www.bnatax.com/estate-tax-changes-webinar/ or call 1-800-372-1033, menu Option 6, then Option 1. The per site fee is $249.
To receive automatic, email notification of upcoming BNA webinars that may be of interest to you, go to: http://www.bna.com/emailsignup.htm
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. In just 60-90 minutes, practitioners gain in-depth knowledge on a current tax or accounting topic from experts in that area - and benefit from practical applications that can be put to work immediately. 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