Are You Utilizing the GST Rules
to Maximum Advantage
for Your Clients?

With the current, high estate tax exemption, many practitioners believe “generation skipping” tax planning (keeping inherited assets out of the children’s taxable estates) is no longer needed for most clients, just for very large estates.

However, the estate tax exemption could be frozen or even reduced after the 2016 Presidential election.  Even if this doesn’t happen, many married estates will likely underutilize the “generation skipping tax” (“GST”) exemption because it isn’t subject to portability. And keep in mind that inherited estates may grow during children’s lifetimes because, even in moderate sized parents’ estates, trusts are often being set up for children (such as for asset protection, divorce, blood-line distribution control or income tax reasons).  The reality is, GST planning is appropriate in lots of estates.

But, do you know (and properly apply) the GST rules, including:

  • Who are “skip persons” versus “non-skip persons”
  • What are “direct skips” versus “indirect skips”
  • The difference between the annual GST exclusion and life GST exemption amounts?
  • The automatic allocation rules?
  • When do you allocate the lifetime GST exemption amount to “indirect skips”?
  • How does late allocation of the lifetime GST exemption amount work?
  • How do you calculate the “inclusion ratio”?
  • How to split trusts into GST and non-GST shares via “qualified severance”?

And, even if you do know the GST rules, do you know how to use the following techniques to maximize the benefit to your clients:

  • “IDGTs” - - How to use installment sales to leverage the GST exemption?
  • SPLIT DOLLAR - - How to use split dollar to even further leverage the GST exemption?
  • PREMIUM FINANCING - - Use bank premium financing to leverage life insurance policies in GST exempt trusts?
  • “HEET” TRUSTS - - How to use non-exempt trusts to pay for the health and education of skip-persons?
  • SALES BETWEEN NONEXEMPT AND EXEMPT TRUSTS - - How to use sales of assets between client trusts to reduce the GST?
  • TAX EXCLUSIVE GIFTING - - How paying gift and GST tax can result in a lower rate than paying estate and GST tax or two layers of estate tax?
  • GENERATION JUMPING - - How jumping over a generation of skip-persons can be very effective planning?
  • PARTNERSHIP FREEZES NOT SUBJECT TO THE GST RULES - - How to draft partnerships to shift wealth free of GST?

Join us and Robert Keebler, CPA/PFS, MST, AEP (Distinguished), CGMA, for a special 2-part presentation series entitled, “Understanding and Taking Maximum Advantage of the GST Rules”.

  • Program Title: Understanding and Taking Maximum Advantage of the GST Rules
  • Speaker:
  • Duration: 90 Minutes

Robert S. Keebler

CPA/PFS, MST, AEP (Distinguished), CGMA
Robert S. Keebler

Robert S. Keebler, CPA/PFS, MST, AEP (Distinguished), CGMA is a partner with Keebler & Associates, LLP and is a 2007 recipient of the prestigious Accredited Estate Planners (Distinguished) award from the National Association of Estate Planning Counsels. He has been named by CPA Magazine as one of the Top 100 Most Influential Practitioners in the United States and one of the Top 40 Tax Advisors to Know During a Recession. Mr. Keebler is the past Editor-in-Chief of CCH’s magazine, Journal of Retirement Planning, and a member of CCH’s Financial and Estate Planning Advisory Board. His practice includes family wealth transfer and preservation planning, charitable giving, retirement distribution planning, and estate administration. Mr. Keebler frequently represents clients before the National Office of the Internal Revenue Service (IRS) in the private letter ruling process and in estate, gift and income tax examinations and appeals.

In the past 20 years, he has received over 150 favorable private letter rulings including several key rulings of “first impression.” Mr. Keebler is nationally recognized as an expert in estate and retirement planning and works collaboratively with other experts on academic reviews and papers, and client matters. Mr. Keebler is the author of over 75 articles and columns and editor, author, or co-author of many books and treatises on wealth transfer and taxation, including the Warren, Gorham & Lamont of RIA treatise Esperti, Peterson and Keebler/Irrevocable Trusts: Analysis with Forms.

Mr. Keebler is a member of the editorial board of the Society of Financial Service Professionals “Keeping Current” series. He is a featured columnist for CCH’s Taxes Magazine – “Family Tax Planning Forum,” Steve Leimberg’s “News of the Week Newsletter” and the Bureau of National Affairs Tax Division. Bob also had his article “Is That Your ‘Final’ Answer?” published in Tax Management Compensation Planning Journal. Bob frequently is quoted in national publications such as New York Times, Chicago Tribune, Baltimore Sun, Barrons, Bloomberg Wealth Manager, Financial Advisor, Forbes, Kiplinger, Lawyer’s Weekly, On Wall Street, The Wall Street Journal, USA Today, Wealth Manager and Worth in addition to many local and regional newspapers.

He is a frequent speaker for legal, accounting, insurance and financial planning groups throughout the United States at seminars and conferences on advanced IRA distribution strategies, estate planning and trust administration topics including the AICPA’s Advanced Estate Planning, Personal Financial Planning Conference and Tax Strategies for the High Income Individual Conference.

Mr. Keebler graduated (cum laude) from Lakeland College with a degree in Accountancy and the University of Wisconsin – Milwaukee with a Masters in Taxation. Before practicing in Northeastern Wisconsin, he practiced with Price Waterhouse where he concentrated in taxation.

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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