Nuts and Bolts of Gift Taxation (Live Replay)
The core of many estate plans, particularly for those that are smaller, consists of a series of lifetime gifts from parents or grandparents to children and grandchildren. Before larger or more complex estate tax plans and techniques are used, the planner confronts the gift tax, its application to those gifts, and its relation to the estate tax. This program is will provide you with a real-world guide to the fundamentals of the gift tax – its concepts and rules, planning to minimize the tax, elections and reporting issues. Among other areas, the program will cover common traps when attorneys file gift tax returns for clients, adequate disclosure issues, and reporting generation skipping taxable gifts.
- Overview of gift tax rates, exemptions and exclusions for educational and medical expenses
- Planning to minimize the gift tax, including gift splitting
- Freezing value, removing value, and discounting value for gift tax purposes
- Inter vivos QTIP elections
- Adequate disclosure issues & reporting generation skipping taxable gifts
- Common traps for attorneys completing gift tax returns
Daniel L. Daniels is a principal in the Stamford office of Wiggin and Dana, LLP, where his practice focuses on representing business owners, corporate executives and other wealthy individuals and their families. A Fellow of the American College of Trust and Estate Counsel, he is listed in The Best Lawyers in America, and has been named by Worth magazine as one of the Top 100 Lawyers in the United States representing affluent individuals. With David T. Leibell, Mr. Daniels co-authors a monthly column in Trusts and Estates magazine. He has written numerous other articles on estate and tax planning and lectures on estate and tax planning topics throughout the United States. He received his A.B., summa cum laude, from Dartmouth College and received his J.D., with honors, from Harvard Law School.
David T. Leibell is a partner in the Stamford, Connecticut office of Wiggin and Dana, LLP, practicing in the Trust and Estates Department. He previously worked in the financial services industry, specializing in the financial aspects of estate planning. Mr. Leibell is a frequent lecturer before fiduciary audiences throughout the United States, and has authored many articles on charitable, estate and tax planning. With Daniel Daniels, he is co-author of a monthly column in Trusts & Estates magazine. He also authors a column for Registered Representative Magazine. Mr. Leibell has been listed in The Best Lawyers in America. Mr. Leibell received his B.A. from Trinity College and his J.D. from Fordham Law School.
