The higher estate tax exemption means many family fortunes will no longer be subject to estate taxes. TCJA raised the total amount that may be transferred without being subject to the estate and gift tax to $11.58 million for individuals and $23.16 million for couples in 2020 (indexed for inflation in future years). This means that tax planning for family wealth now focuses on how to include highly appreciated assets in estate plans, to avoid or mitigate capital gains taxes when those assets are sold.
This webinar covers techniques for basis planning for family wealth, including spousal transfers and marital trusts, swap powers, powers of appointment, and a discussion of which assets are most conducive to basis planning.
Instructional MethodGroup: Internet-based
NASBA Field of Study
Taxes (2 hours)