Planning with Intentionally Defective Grantor Trusts (Currently Unavailable)

Author: Steven G. Siegel

CPE Credit:  2 hours for CPAs
2 hours Federal Tax Related for EAs and OTRPs
2 hours Federal Tax Law for CTEC

Intentionally Defective Grantor Trusts – IDGTs – are a popular estate planning technique that can potentially benefit your clients. Explore how these trusts work and get tips on how to best put them to work for your clients.

This two-hour CPE course provides a practical, useful and updated examination of IDGTs from noted estate planner, author and educator, Steven G. Siegel, J.D., LL.M. This insightful program discusses how IDGTs work, how they are created, and the planning situations where they are best used. Siegel, an outstanding speaker and presenter, will provide plain-English explanations and helpful tips on this important topic, so you can understand IDGTs and advise your clients about them with confidence.

NOTE: IDGTs are being questioned by some political candidates as too favorable for wealthy clients and have been attacked by IRS challenges, yet they remain an excellent planning technique to accomplish significant tax saving objective. Understanding this planning opportunity and taking advantage of it while it is available is critical to your clients who would benefit from IDGTs.

Publication Date: September 2019

Designed For
This course is essential for tax return preparers, CPAs, CFPs, enrolled agents, tax attorneys and other professionals who advise clients on tax, retirement and estate planning, and other wealth management matters

Topics Covered

  • What is an Intentionally Defective Grantor Trust?
  • Understanding the Grantor Trust Rules
  • Creating and Using IDGTs
  • Advantages of IDGTs
  • Installment Sales of Property to IDGTs
  • Using IDGTs in Family Business Succession Planning
  • Comparing the Use of the IDGT to the Use of a GRAT

Learning Objectives

  • Recognize and apply a comprehensive, updated understanding of what Intentionally Defective Grantor Trusts are
  • Recognize how to create and effectively use IDGTs
  • Identify planning opportunities where IDGTs could benefit clients
  • Recognize the primary purpose of the grantor trust rules
  • Identify correct statements with respect to installment sales of property to intentionally defective grantor trusts
  • Describe GRAT Planning Technique
  • Identify a reason for why an IDGT is favored over the GRAT
  • Recognize advantages/disadvantages of a GRAT
  • Describe a case involved the creation by a taxpayer of grantor trusts for her children and the conveyance of family limited partnership units to such trusts

Level
Intermediate

Instructional Method
Self-Study

NASBA Field of Study
Taxes (2 hours)

Program Prerequisites
Basic knowledge of federal wealth transfer taxes

Advance Preparation
None

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