Estate and Gift Tax Planning Updates: Significant Court Cases, SECURE Acts, Basis Consistency Rules, SLATS

The rules concerning trust, estate, and gift tax planning are continually changing. The impending sunset of the current estate, gift, and GST tax exemptions at the end of 2025 is just one of many critical issues for estate planners and their clients.

The evolving estate planning landscape may affect existing and future estate planning strategies. Some of the challenges for estate planners stem from (1) recent court cases involving transferee liability, valuation, redemption agreements, and more; (2) the impact of SECURE Acts; (3) GST tax and exemption allocations; (4) preserve asset basis and other tax attributes; (5) navigating digital assets in estate planning; and (6) the tax implications of certain trust arrangements and transactions.

It's essential that estate planners identify the impact of these recent developments on current estate plans and make any necessary adjustments to ensure such plans align with client goals while also minimizing taxes.

Listen as our panel discusses significant court cases impacting tax and estate planning, GST rules and allocations, basis consistency rules and trust division to preserve asset basis and other tax attributes, gifts or bequests of appreciated property, and other key issues.

1. Recent trends in trust, estate, and gift taxation
2. GST transfer tax and allocation of exemption
3. Portability election
4. Trusts; preserving asset basis and other tax attributes
5. Cryptocurrency and digital assets in estates
6. Recent cases and other developments

The panel will explore these and other critical issues:

• Recent trends in gift and estate tax planning and issues to consider for 2025
• GST transfer tax rules and exemption
• Portability elections and pitfalls to avoid
• Navigating digital assets in trust and estate planning
• Using trusts to preserve asset basis
• Overview of recent cases and their impact on trusts and estate planning

Learning Objectives

After completing this course, you will be able to:

• Identify estates that could benefit from the extension of time to file a portability election
• Determine deductible interest expense on accrued penalties and interest owed by an estate
• Ascertain which clients' estate plans are affected by recent digital asset regulations

• Field of Study: Taxes
• Level of Knowledge: Intermediate
• Advance Preparation: None
• Teaching Method: Seminar/Lecture
• Delivery Method: Group-Internet (via computer)
• Attendance Monitoring Method: Attendance is monitored electronically via a participant's PIN and through a series of attendance verification prompts displayed throughout the program
• Prerequisite: Three years+ business or public firm experience preparing complex tax forms and schedules, supervising other preparers or accountants. Specific knowledge and understanding of estate and gift taxation and reporting, pass-through taxation, including taxation of partnerships, S corporations and sole proprietorships, qualified business income, net operating losses and loss limitations.

Strafford Publications, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of Accountancy have final authority on the acceptance of individual courses for CPE Credits. Complaints regarding registered sponsons may be submitted to NASBA through its website: www.nasbaregistry.org.

IRS Approved Provider

Strafford is an IRS-approved continuing education provider offering certified courses for Enrolled Agents (EA) and Tax Return Preparers (RTRP).