White Paper

Preserving the GST Tax Exemption Marital Deduction Trust Funding

 
Preserving the GST tax exemption in marital deduction trust funding - a calculation refresher. The portion of a trust or trust distribution that is “exempt” from GST Tax is determined by multiplying the value of the trust/distribution by the inclusion ratio. The inclusion ratio is calculated by subtracting the applicable fraction from the integer one. In general, the numerator of the applicable fraction is the amount of GST Tax exemption allocated to the trust, and the denominator is the value of the assets transferred to the trust (reduced by any federal estate tax or state death tax actually recovered from the trust attributable to such assets, and any gift or estate tax charitable deductions with respect to such assets).

Our author, T. James Lee Esq., also reviews drafting strategies or severances and formula selection; and planning with powers of appointment, and with trustee and third-party powers.

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T. James Lee, Esq. is a partner and director in the Phoenix office of Fennemore Craig, P.C. He practices in the areas of estate planning, business design and structuring, and commercial transactions, including tax planning, corporate, partnership, LLC, real estate, and international matters. Mr. Lee advises clients on planned giving methods, and establishing charitable trusts, foundations, and other tax-exempt organizations. He conducts regular seminars and workshops on estate planning, tax and probate topics.

Faculty

T. James Lee, Esq.

T. James Lee, Esq.

Fennemore Craig, P.C.

Agenda

Faculty

T. James Lee, Esq.

T. James Lee, Esq.

Fennemore Craig, P.C.

  • Partner and director in the Phoenix office of Fennemore Craig, P.C.
  • Practices in the areas of estate planning, business design and structuring, and commercial transactions, including tax planning, corporate, partnership, LLC, real estate, and international matters
  • Advises clients on planned giving methods, and establishing charitable trusts, foundations, and other tax-exempt organizations
  • Achieved the highest rating with Martindale-Hubbell Law Directory
  • Conducts regular seminars and workshops on estate planning, tax and probate topics
  • Writer of several articles related to estate planning
  • Member of ACTEC and the ABA, Taxation Committee, and listed in Best Lawyers
  • J.D. degree, with honors, Brigham Young University, J. Reuben Clark Law School; B.S. degree, Brigham Young University
  • Can be contacted at [email protected]

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