To Use Portability or NOT Use Portability?

The IRS Has Simplified the Process and
Portability is Now Your Biggest Planning Opportunity!

Since “portability” became law, no single best structure or best practice has emerged. Estate planners are forced to carefully consider each client’s unique situation. Moreover, while portability was a simplification and improvement, the need to fix mistakes remains.

The best structure for a particular client really varies. Should you still use the traditional bypass trust?  Or some new variation of it (including second death step-up provisions)?  Or use a QTIP trust? Well, thanks to Rev. Proc. 2016-49, the QTIP alternative has greater appeal and certainty. Or is the marital deduction and portability simply good enough? And what about clients who don’t seem to have an estate tax liability, should you file for portability anyway?

Many families will have to overcome mistakes or simply recalibrate their plan as well. Late elections can be hard but have tremendous value.  Rev. Proc. 2022-32 has simplified this process.  However, those outside the simplified procedures can get relief too.

This is why we’ve turned to nationally renowned CPA and tax expert, Robert S. Keebler, CPA/PFT, MST, AEP (Distinguished), to put together this timely and practical presentation entitled, “The Four Paths to Portability”.

During this 91-minute presentation, Bob will cover the following: 

• What exactly is the planning opportunity confirmed by Rev. Proc. 2016-49

• The simplified procedure to make late elections provided by Proc. 2022-32 (which superseded Rev. Proc. 2017-34)

• How the “Portability QTIP” can be used to combine asset protection and a step-up at the second death

• How the Portability QTIP can be further used to combine GST protection and a step-up at the second death

• The mathematics of the Portability QTIP compared to the traditional Bypass Trust and a Bypass Trust including a formula step-up provision

• How the use of the Portability QTIP compares to an outright spousal gift at death

• Does the Portability QTIP makes sense in a second marriage?

• How to chart the best course for IRAs
  • Does a Portability QTIP make sense compared to a spousal rollover?
  • How the minimum distribution rules work with a spousal rollover vs. Bypass Trust vs. QTIP trust

• Making the election a timely filed return and how to file a portability only tax return

• Steps for receiving late election relief under the streamlined procedure 

• The basics of 9100 relief

• And much, much more!

Your purchase includes: Downloadable PDF handout materials and MP3 audio recording. A PDF transcript may be added on for an additional fee during the checkout process.