Continuing Legal Education

TELESEMINAR: Planning for Estates Under $10 Million – A National Perspective

June 13, 2014
12:00 – 1:00 p.m.
1.00 MCLE hours


Estate planning for estates under $10 million is not nearly dead; it’s only become more complex.  Although recent legislation eliminated the federal estate tax for estates under this amount for couples, there is no shortage of urgent income tax and non-tax issues that must still be considered. At the level of federal income tax, there are issues of preserving step-up basis on the death of a trust’s settlor or beneficiary and planning to minimize the new 3.8% tax on the “net investment income” of trusts. There is also essential planning to maximize the “portability” of the lifetime estate and gift tax exemption. Planners also need to carefully consider whether they can and should “reverse” certain planned gifts if their clients are no longer subject to the federal estate tax and revisit existing estate and trust plans to repurpose, revise or perhaps eliminate existing entities or structures. This program will provide you with a real world guide to the new world of estate planning for estates under $10 million. 


  • Estate planning for estates under $10 million – new planning for a new tax world
  • Preserving step-up basis for federal income tax purposes on the death of a settlor or beneficiary
  • Minimizing application of the 3.8% tax on net investment income in trusts
  • Maximizing portability planning for the lifetime estate/gift tax exemption
  • “Reversing” existing gifts/transfers for clients no longer subject to the estate tax
  • Preparing clients to transfer their valuable digital assets
  • Revising and revising existing estate and trust plans


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Program Speaker:
John T. Midgett,
Midgett & Preti P.C., Virginia


John T. Midgett is a founder of Midgett & Preti PC in Virginia Beach, Virginia, where his practice focuses on estate planning, administration and taxation, elder law, and family business planning.  He is a Fellow of the American College of Trust and Estate Counsel, a member of the National Academy of Elder Law Attorneys, and the Duke University Estate Planning Council.  He has lectured widely on topics relating to estate planning, taxation, probate, elder law, and family businesses. Mr. Midgett received his B.A. from the University of Virginia and his J.D. from the University of Richmond.