Tax and Estate Planning Institute
The 39th Annual Notre Dame Tax and Estate Planning Institute will take place on October 17-18, 2013, in South Bend at the Century Center.
With the permanence of the $5,000,000 transfer tax exemptions, fewer clients will need transfer tax planning. The 39th Institute will cover topics that will always be a concern, even for families below the $10,000,000 exemption, such as the transfer of the family business to the next generation, especially when some of the children will not be actively involved, how to deal with unusual assets, especially digital assets that did not exist until recently, concerns with second marriages, problems with prenuptial agreements when there is a divorce and the creditor’s approach to asset protection trusts.
Since estate planning is one of the few practice areas clients deal with well in advance, the estate planning profession has a unique opportunity to introduce income tax planning opportunities. Several sessions will explore the use of estate planning techniques for income tax planning, such as assignment of income to taxpayers in lower marginal income tax brackets, state income taxes, deferral of reporting income, sheltering investment income from income taxation and using the tax-free step-up in basis at death for appreciated assets. Several sessions will focus on mistakes that may arise with common techniques, risks certain techniques pose and potential flaws inherent in certain techniques. These sessions will also explain concepts that can be misunderstood or that commentators commonly get wrong (or exaggerate).