Estate Planning
Valuable Tips For Planning/Drafting Under The 2010 Tax Act — 4 West Virginia General Credits

This 3.3-hour March 22, 2011 talk by Louis A. Mezzullo, Esquire, a partner in the Rancho Santa Fe, CA offices of the Luce Forward law firm, begins with a practical explanation of the estate, gift and generation-skipping provisions of the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010 (“2010 Tax Act”). Mr. Mezzullo follows with an extensive – more than two hour – discussion of new estate planning and drafting opportunities and pitfalls under the relevant 2010 Tax Act provisions and related topics.

Major topics include:

How We Got Here

Temporary Estate Tax Relief

• election to have carryover basis apply

• extension of certain filing deadlines

• portability of unused exemption between spouses

• sunset provisions

• effective dates

Planning Under The 2010 Tax Act

• persons dying in 2010

• gifts in 2010

• generation-skipping transfers in 2010

• using the $5 million gift tax applicable exclusion amount

• portability

The Effect Of Repeal On Existing Documents And Drafting New Documents

• interpretation issues

• state law fixes

• effect of retroactive reinstatement of the estate and GST taxes

• drafting issues

Tax-Free Distributions From Individual Retirement Plans To Charities

Dealing With Carryover Basis

• introduction

• carryover basis under EGTRRA

• information returns

More

NOTE: For a course which is primarily a detailed explanation of the 2010 Tax Act provisions affecting estates, gifts and trusts (with much less on the planning opportunities and pitfalls), please see Louis A. Mezzullo's December 28, 2010 program, 2010 Tax Act: The Estates, Gifts And GST Provisions, which, like this course, is also listed under “Estate Planning” on course lists for each state. Mr. Mezzullo's December talk was recorded immediately after passage of the 2010 Tax Act, before practitioners had time to thoroughly consider the planning and drafting effects of the 2010 Tax Act.

FORMS: For fully-editable downloadable forms in many practice areas, please go to www.NLFforms.com