For most married couples, on the first death, the most important estate planning goals are: to maintain the financial security and lifestyle of the surviving spouse; to avoid the payment of any transfer or additional income tax due to the death of the first spouse; to begin the transfer of wealth to the children, future generations and other beneficiaries When the first spouse dies, other than the preparation of tax returns and the possible transfer of assets in trust or outright to the surviving spouse, there is often little to do in terms of the probate of the Will and the estate administration.
On the death of the surviving spouse, while often the only goals are to minimize taxation and efficiently transfer the wealth, there is usually a complex probate and estate administration that more often than not is costly, time consuming and financially and emotionally painful for the beneficiaries. This on-demand webinar will concentrate on estate planning for the high-net worth, married couple with adult children who wish to maximize the amount of wealth that is transferred to future generations while ensuring that the probate of the will and estate administration for the second of the couple to die is cost effective and painless for the loved ones who must handle it. This on-demand webinar will concentrate on general estate planning and drafting considerations when preparing the estate plan for the couple, the transfer (estate, gift and generation skipping) and income taxation issues on the second death and the actual estate administration and transfer of wealth on the second death. Learning Objectives: •You will be able to discuss drafting consideration to minimize taxation. •You will be able to explain planning with life insurance. •You will be able to review income taxation-on the second death. •You will be able to discuss probate and estate administration.
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Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Agenda
Overview
Estate planning
- Drafting Consideration to Minimize Taxation
- Planning With IRAs and Closely Held Businesses
- Planning With Life Insurance
Tax Considerations
- General Overview of Taxation on First Death
- Transfer Taxes - Estate, Gift and Generation-Skipping on the Second Death
- Income Taxation - On the Second Death
- Specific Tax Considerations Related to IRAs, Closely Held Businesses and Life Insurance
Probate and Estate Administration
- General Estate Administration Considerations on the Second Death
- Specific Considerations Related to the Transfer of:
- IRAs
- CloselyHeld Business Interests
- Specific Considerations Related to Life Insurance
Questions and Answers
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Credits
OnDemand Course
This course was last revised on October 16, 2013.
Call 1-866-352-9540 for further credit information.
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Faculty
Anta Cissé-Green
NYU Langone Health
- Associate general counsel of development at NYU Langone Medical Center
- Seasoned tax professional who advises clients on the tax efficient use of complex vehicles to transfer wealth to family members using various estate, gift generation skipping and charitable vehicles
- Member of the New York State Bar Association, the New York City Bar Association and the current trusts and estates editor for the eReport, the online publication of the American Bar Association, Real Property Trusts and Estates Section
- Certified as a trusts and estates practitioner with the Society of Trusts and Estates Practitioners
- Superlawyers New York Metro Rising Star 2013-2014, Estate Planning & Probate, named to the National Black Lawyers Top 100 Attorneys and a member of the Executive Committee for The National Advocates
- L.L.M. degree, taxation, New York University School of Law; J.D. degree, magna cum laude, Brooklyn Law School
- Can be contacted at 646-754-7385, [email protected] or on Twitter @ACisseGreen
Lori Anne Douglass
Moses & Singer LLP
- Partner with Moses & Singer LLP
- Practice centers on establishing family agreements and resolving family disputes including litigation if necessary
- Advises on matters related to prenuptial, post-nuptial and co-habitation for both opposite sex and same-sex couples
- Her trusts and estates experience focuses on estate planning and business succession planning
- In the area of estate administration and estate litigation, she handles both contested and
uncontested estate matters
- Frequently interviewed for articles on estate and business planning, and is a well-known lecturer at national conferences and continuing legal education seminars
- Has written extensively in her practice area and is working on a book, “How to Raise a Child You Love with a Person you Hate”, concerning co-parenting and life lessons following a divorce
- J.D. degree, cum laude, Syracuse University College of Law; B.A. degree, Swarthmore College
Antar P. Jones, Esq. LL.M.
The Law Office of Antar P. Jones, PLLC
- Founder of The Law Office of Antar P. Jones, PLLC, located in Brooklyn, New York
- Practice includes advising fiduciaries and successful individuals concerning the administration of estates, trusts, and the income and estate taxation matters affecting them
- Appointed over 70 times as guardian ad litem with respect to decedents’ estates in the State of New York
- Published "Providing Capital to Entities or Individuals That Go Bust" on Complinet.com, a website owned by Thomson Reuters
- Received an acknowledgment for his work on the textbook, Corporate Finance and Governance, Jeffrey J. Haas, Carolina Academic Press (3d ed. 2006)
- Has presented at dozens of speaking engagements on taxation and trusts, and estates matters
- Co-chair of the Surrogate’s Court Committee at the Brooklyn Bar Association
- Adjunct Professor of Law at New York Law School and teaches a course on the income taxation of estates and trusts
- LL.M. degree in taxation, graduate program in taxation, New York Law School
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