Recent years have seen a historical change in the way planners should approach fundamental estate planning practices. The federal estate tax is increasingly an issue for only a very small part of the population, and it is much easier to avoid the tax with a minimum of planning. But many face uncertainty as to whether they are truly free of the tax or only in the midst of a 7 year increase in the applicable exclusion amount of $10 million indexed for inflation through 2025.
Current best practices in estate planning under the current laws will be examined.
- The increased application exclusion and enactment of portability
- Changes in marital planning for married couples
- Factors to considering using portability versus traditional A/B planning
- Impact of state death taxes
- Disruption caused by maximum exclusion type formulas
- Ways to preserve the option of obtaining a step up in income tax basis
Portland Trust Company is pleased to offer Continuing Education opportunities featuring tenured professionals from the American Bankers Association Trust Schools.
Thomas W. Abendroth, Partner, Schiff Hardin LLP
Charles “Skip” D. Fox IV, Partner, McGuireWoods LLP
“Recent Developments in Estate and Trust Administration” has been approved for:
2.5 CTFA credits 2.0 CPE credits for CPAs (Taxes)
2.0 Maine CLE credits
RSVP firstname.lastname@example.org or 558-6222