Sophisticated Estate Planning Strategies: An Advanced Course in Estate Planning

May 10, 2016
New Jersey Institute for Continuing Legal Education
The Wilshire Grand Hotel

350 Pleasant Valley Way, West Orange, NJ 07052

Jerome A. Deener, Adam M. Grenker and Debra T. Hirsch presented at the New Jersey Institute for Continuing Legal Education NJCLE seminar on "Sophisticated Estate Planning Strategies: An Advanced Course in Estate Planning."

Current estate planning requires sophisticated strategies to be able to generate New Jersey and federal estate tax savings where appropriate and a view toward maximizing income tax benefits for clients through “Basis Management”.

This program covered practical complex issues facing the financial planner which requires both sophistication and ingenuity in light of the current $5,450,000 Federal Estate Exemption, the $675,000 New Jersey Estate Exemption and the increased Capital Gains Income Tax rates.

Specific drafting examples were distributed and discussed to achieve client goals. Other planning opportunities set forth in the Estate Planning Strategist (5th Edition) were outlined and discussed.

Topics covered included:

  • Determining client expectations and goals, questions to ask clients at initial meeting and related response
  • Drafting to defer choices
  • Spousal Lifetime Access Trust
  • Obtaining Full Basis Step-up of both spouses' assets on death of 1st spouse - Joint Revocable Trusts, their intended benefits and risks to avoid
  • Sale to Grantor Trust
  • Planning for clients with less than average life expectancies
  • Using leveraged GRAT to enhance value of assets passing to heirs (successful IRS audit analyzed)