Analyzing Generational Trusts for Basis Increase Opportunities 1 Credit
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This course is valid up to December 31, 2023, for CFP Professionals. It is advisable to complete this course before that to process the credit on time.
The uncertainty of the gift and estate tax laws over the last decade has led to a proliferation of irrevocable, completed gift trusts. Similarly, low estate tax exclusion amounts in the 1980s, 1990s, and 2000s generated a significant number of credit shelter trusts. These types of trusts often have significantly appreciated assets, often with a low basis.
However, the higher estate tax exclusion amount currently available ($12,060,000 in 2022) may create opportunities to seek a step-up in the basis for these types of trust holdings.
A generation-skipping trust is a type of legally binding trust agreement in which the contributed assets are passed down to the grantor's grandchildren, thus "skipping" the next generation, the grantor's children. By passing over the grantor's children, the assets avoid the estate taxes—taxes on an individual's property upon his or her death—that would apply if the children directly inherited them. These are effective wealth-preservation tools for individuals with significant assets and savings.
In this CE/CPE webinar, the speaker joining Griffin Bridgers will answer the following major questions:
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Griffin Bridgers, JD., LL.M., is a partner with the law firm of Hutchins & Associates LLC in Denver, Colorado. Griffin specializes in estate and income tax planning for high net worth individuals. Griffin is also a frequent speaker and educator, both online and in person, and he provides tax and estate planning updates through digital media through his YouTube channel and on an individual basis for clients and wealth professionals. Griffin also uses his advanced tax and estate planning knowledge on an individual, non-attorney basis to serve as a market expert on the delivery of planning services, and he advises wealth advisors and CPAs on the use of planning strategists and bespoke digital media to grow their client base.
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We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.
MB
This is an invaluable course. Mr. Bridgers is obviously very experienced. It was a very fast paced course blending baseline information for basis with the nuances of trusts. I will definitely review the class materials again. I learned new information about trusts that weren't covered in those basic courses.
MD
Wow! This was overwhelming. I learned a lot.
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