TELESEMINAR: Disclaimers in Estate Planning – A National Perspective
October 23, 2012
12:00 – 1:00 p.m.
1.00 MCLE hours
The use of disclaimers by beneficiaries to reject property given to him or her in a will or trust is a powerful tool for estate planners. When disclaimers are used prospectively and properly incorporated into estate and trust documents, they provide substantial flexibility to respond to changing facts and circumstances and changing laws. In the same way, disclaimers can be used on a post-mortem basis to achieve certain tax savings or reflect changed circumstances in a way that would otherwise not be possible. Though powerful and often effective, disclaimers are blunt instruments which, if not effectuated by planners or beneficiaries, can go badly wrong, creating greater problems and adverse tax consequences than they correct. This program will provide you with a real-world guide to using disclaimers in estate and trust planning both as prospective tool and a post-mortem tool to achieve client goals.
- Effective use of disclaimers on a prospective and post-mortem basis
- Incorporating disclaimers in estate and trust documents to ensure flexibility to respond to estate and gift tax laws – and changed client circumstances
- Using disclaimers to maximize credits and deductions
- How to properly effectuate disclaimers and avoid the taxable gift trap
- Generation Skipping Transfer Tax issues with disclaimers
- Problems associated with partial disclaimers of property
- Current developments and IRS challenges to disclaimers
Blanche Lark Christerson, Deutsche Bank Private Wealth Management, New York
Daniel L. Daniels, Wiggin and Dana, LLP, Connecticut
David T. Leibell, Wiggin and Dana, LLP, Connecticut