In this webinar we discuss 2022 estate planning and year end considerations, including:
- Pros and cons of annual gifts and nuances such as GST implications
- Whether practitioners should encourage clients to take steps in anticipation of 2026 reduction in the exemption amount
- If action can be taken that may reduce the risks of step transaction or reciprocal trust challenges against SLAT and other planning.
- Ideas in light of the Proposed Clawback Regulations
- Monitoring trust income in light of trust compressed tax rates, and considering the 65-day rule
- How to shore up valuation adjustment clauses in year end transactions
- Valuation issues practitioners should be concerned about (the GRAT CCA and Batty case).
- Recession as a possible remedy for unintended 2022 transactions
- Charitable gift planning before year end has always been a common practice but recent cases emphasize the need for practitioners to caution clients to carefully comply with substantiation and other requirements.