Speakers: Michael F. Amoia, J.D., LL.M, CLU, ChFC

Year: 2018

Often, the estate planning process focuses too heavily on the avoidance of wealth transfer taxes. As a result, the traditional planning process yields a series of recommendations for shifting assets outside the estate through various techniques such as outright gifts, GRATs and/or sales to grantor trusts. Unfortunately, for clients heavily invested in real estate, such techniques tend to ignore the array of other issues that need to be addressed – especially now that income taxes may be more impactful than estate taxes. Based on an actual real estate client, this session will be a detailed case study that covers the following: the tax and non-tax issues of preserving the wealth for future generations, the inefficiencies of IRC Sec 6166, unique income tax concerns for large real estate clients that are often overlooked, understanding partnership tax issues when holding real estate, options under Chapter 14 re-orgs to shift growth while maintaining income, leveraging modern trust features to maximize flexibility and the emotional issues when a client is on his/her second or third marriage. Key Takeaways:1. Discuss the practical wealth transfer strategies most often considered by real estate clients and how such strategies may be enhanced with life insurance. 2. Overcoming the common misunderstandings most real estate client have about estate planning – regardless of the estate tax.3. Show methods to integrate the current planning with prior planning and technical issues associated with such integration.