TELESEMINAR: Liquidity Planning in Estates and Trusts – A National Perspective
February 8, 2013
12:00 – 1:00 p.m.
1.00 MCLE hours
Obtaining liquidity in an estate, both during the life of a client and after his or her death, is a major challenge for estate planners and administrators, particularly in an environment where asset values are only now stabilizing and credit is still exceptionally tight. Pre-mortem, a client with illiquid assets – an interest in a closely held company, real estate, artwork or other property without a regular market – may need liquidity to support themselves or pursue other ventures. Post-mortem, the client’s estate will need cash to pay federal and state tax liabilities, and pay other final expenses. This program will provide you with a practical guide to obtaining liquidity in a client’s estate, pre- and post-mortem, including elections to defer estate taxes, the use of Graegin notes, redemptions, buy-sell agreements and more.
- Estate planning and administration to obtain liquidity for illiquid assets
- Liquidity to fund tax liabilities, trust distributions, administrative expenses, and more
- Mechanics of electing a deferral of estate tax under IRC Section 6166
- Use and advantages of using Gaegin notes to obtain liquidity
- Advantages and disadvantages of use of redemptions and buy-sell agreements
- Techniques to use life insurance products to obtain liquidity
Daniel L. Daniels, Wiggin and Dana, LLP, Connecticut
David T. Leibell, Wiggin and Dana, LLP, Connecticut