This program will build on the ideas presented in Past, Present and Future of A-B Trusts, Part 1 to introduce cutting edge estate planning techniques to minimize both estate taxes and income taxes.  Attendees should have taken Part 1 or have equivalent knowledge.
 
Learning Objectives  

• Effect of loss of step up on assets in bypass trust.


• Uses and tax consequences of powers of appointment.


• Use of a limited general power of appointment to optimize basis step up on the second death.


• Use of Clayton provision to facilitate income tax planning.


• Adverse income tax consequences of non-grantor trusts.


• Use of a limited general power of appointment to make a beneficiary the grantor of a trust.


• Impact of the 2017 tax act on A-B trust planning, and related opportunities for CPAs.


• Why your clients need to have their formula-based trusts reviewed immediately.