Planning for Clients Who Don’t Want
to Do Any Estate Tax Planning!

You see this situation all the time - -  a prospect or client has a large estate and doesn’t want a big chunk to go to Uncle Sam, but doesn’t want to transfer away any assets while he or she is living and doesn’t want to buy any life insurance either.  Or the prospect’s or client’s decision making is simply “frozen” until the future of the Estate Tax is sorted out.

So what can you do?

It’s fairly simple to explain to the prospect or client: “You don’t have to make any gifts or buy insurance.  After you’re gone, most of your estate will immediately go to your beneficiaries tax free and a portion will be set aside to pay its income to charity for a few years - - after which time your beneficiaries will receive that portion tax free too.  Your beneficiaries don’t need to get your whole estate immediately, so this is a great way to cut out the IRS and also do some good!”

This seemingly simple, yet elegant estate tax strategy is something called a “T-CLAT” (or, in legal jargon, a Testamentary Charitable Lead Annuity Trust).

Although the T-CLAT is simple, at least on the surface, designing the T-CLAT formula so it “zeroes out” the Estate Tax is not quite so simple.

Do you know…

  • The 12 ways to draft a T-CLAT formula?
  • The advantages and disadvantages of each?
  • How to avoid the big trap - - the formula resulting in nothing remaining for the beneficiaries at the end of the T-CLAT term?
  • How the type of estate assets and their cash flow have to be factored in?

If you’re a CPA, financial advisor or estate planning attorney who deals with high net worth prospects and clients, you should join us and nationally renowned estate planning attorney, Paul Hood, for a special 90 minute program entitled “T-CLATs: Beyond the Basics”.

 

  • Program Title: TCLATs: Beyond the Basics
  • Speaker:
  • Duration: 90 minutes

L. Paul Hood

Jr., Esq.
L. Paul Hood

Paul Hood is presently a speaker, consultant and commentator on estate planning issues.  He also serves from time to time as a trust protector and trustee.  A former estate planning and tax attorney in Louisiana, Paul received his undergraduate and law degrees from LSU (he’s a proud Tiger!) and his LL.M. in taxation from Georgetown University Law Center.  He is a frequent speaker, is widely quoted and his articles have appeared in a number of publications, including BNA Tax Management Estates, Gifts and Trusts Memorandum, CCH Journal of Practical Estate Planning, Estate Planning, Valuation Strategies, Digest of Federal Tax Articles, Loyola Law Review, Louisiana Bar Journal, Tax Ideas, Family Foundation Advisor and Charitable Gift Planning News.  He is the author of BNA Portfolio 830 on general valuation.

Paul has spoken at programs sponsored by a number of law schools, including Duke, Georgetown, NYU, Tulane, Loyola (N.O.) and LSU, as well as many other professional organizations.  He taught estate and gift tax at the University of New Orleans for five years, and is now teaching a course on estate planning for the online masters in taxation program for Northeastern University.  From 1996-2004, Paul served on the Louisiana Board of Tax Appeals, a three member board that has jurisdiction over all Louisiana state tax matters.

Paul and Tim Lee wrote a book on business valuation that John Wiley & Sons published in the spring of 2011, and he is presently writing a book on estate planning for blended families that should be out in the spring of 2012.  A proud father of two teen-aged boys, Paul also was a longtime pitching coach, and he is a huge baseball fan.  Paul and his estate planning attorney wife, Carol Sobczak, reside in Napa, California.

IMPORTANT NOTICE REGARDING CE CREDIT

The Ultimate Estate Planner, Inc. and the presenter are not registered Continuing Education Sponsors and this program is not pre-approved for continuing education credit for any state or regulatory agency.

However, please note that each program includes a Certificate of Completion and, depending on the license and the regulatory agency for which governs a participant’s CE credit, some professionals may be able to self-report his or her participation and receive credit. It is the responsibility of the participant to complete any process necessary to seek self-reported CE credit for his or her participation. By registering for a teleconference (or purchasing on On-Demand program), you understand that CE credit is not guaranteed or warranted by the presenter or The Ultimate Estate Planner, Inc.

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