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Estate Planning Techniques: the JEST, the SCGRAT, & the TEA POT Trust System

ESTATE PLANNING TECHNIQUES: THE JEST, THE SCGRAT, & THE TEA POT TRUST SYSTEM

Cost Free
Presentation Length 1.0 hour

Recorded DateSeptember 15, 2020
CPE:Not available
(archived webinars do not offer CPE credits)
Subject AreaTaxes
Course LevelBasic
Course Description

Oftentimes it is possible to take a combination of planning techniques or general rules and put them together in appropriate combination to yield a positive result for clients.

Adding acronyms, technical analysis, and client-friendly charts and explanations can make the technique more easily understandable and usable by all concerned.

This 60-minute presentation will explain the JEST Joint Trust that can allow for a fully-funded Credit Shelter Trust using most or all of the joint trust assets, a step-up in income tax basis of all trust assets upon the first death, and creditor protection advantages that do not exist in many estate plans.

The SCGRAT can allow an individual with a less-than-average life expectancy to sell assets in exchange for a self-canceling installment note without having a significant gift tax risk.

The TEA POT Trust allows for the most efficient use of IRA and pension plan proceeds that must be paid out during the 11th calendar year after the death of a plan participant in many circumstances where there are two or more beneficiaries that may have different needs and be in different tax brackets.

Learning Objectives:


  • Recognize the Joint Exempt Step-up Trust and how it works.

  • Identify risks and rewards of using the Joint Exempt Step-up Trust.

  • Determine why the Joint Exempt Step-up Trust can be superior to a community property joint trust.

  • List the risks of using a self-cancelling installment note for an unhealthy individual.

  • Recognize how the SCGRAT avoids the risk.

  • Determine how to save income taxes on IRA distributions while equalizing overall family post-tax results.

  • And more!

PLEASE NOTE: ARCHIVED WEBINARS DO NOT QUALIFY FOR CPE
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Gassman crotty den

Alan S. Gassman, J.D., LL.M., is a board-certified estate planning and trust lawyer who practices in Clearwater, Florida. He has an LL.M. in taxation from the University of Florida and practices in trust and estate planning, tax, wealth preservation, and the representation of physicians and medical practices.

Mr. Gassman speaks at many tax conferences, national programs, and national and local webinars, including Bloomberg BNA Tax and Accounting, the Notre Dame Tax and Estate Planning Institute, and at many other conferences and webinars.

About Our Presenter

Gassman crotty den

Our firm was formed in 1987 with one lawyer and a shared secretary and receptionist to provide representation to professionals, business owners and retirees in their estate and related tax and personal planning, business and corporate needs.

Since then we have grown to 6 lawyers and over 20 staff, which we have found over the past two decades to be the best size for us. We are very proud of our team, our systems, and our dedication to providing the best and most appropriate legal services for all clients, whether big or small. Our lawyers meet together almost every morning to discuss and work together on cases, strategies and practice improvement projects in order to work the most efficiently and effectively for our clients. We like what we do and enjoy working together.