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12:30pm - 01:45pm EDT - June 6, 2022

Monday

This session will review recent cases, rulings and legislation in the area of estate, gift and generation-skipping tax. How those new rules impact estate planning approaches will also be discussed.



Objectives:
  • Analyze how changes to the law impact how clients should think about their estate plans.
  • Assess estate planning techniques that they can use to reduce estate, gift and generation-skipping taxes.
02:15pm - 03:05pm EDT - June 6, 2022

Monday

Understanding what is community property is key to helping a married client with their planning goals and objectives. Although community property predominantly exists in 11 states, many clients move in and out of these states and bring their community property with them. Many of the non-community property states (or common law states) have laws that address community property brought to their state. This course will explain: (1) how assets obtain their classification as community or separate property, (2) what presumptions and rules are applied in classifying an asset as community property or separate property, (3) the significance of methods of holding title in determining whether an asset is community or separate property, (4) how agreements between spouses impact these classifications (5) the consequences of moving to or from a community property state and (6) the impact of community property on income taxes and transfer taxes.



Objectives:
  • Identify what is community vs separate property and why is it important to know these terms.
  • Recognize how the character of property is different but sometimes the same as the title of the property.
  • Recognize that the analysis for what is community property vs separate and its’ impact can be similar but not necessarily the same in different states and in the case of death, divorce and tax reporting. The type of asset or income can also impact this analysis.
  • Identify that the time that property is acquired, the source of funds or credit and titling often determine whether property is community or separate property - all of which can usually be overridden by agreement.
04:30pm - 05:45pm EDT - June 6, 2022

Monday

The failure to pass significant partisan legislation 2021 surprised us all. However, the Democrats remain likely to capture the moment. They last controlled the House, Senate and the Presidency in 2009-2010 and 1993-1995 before that. This session will focus on the latest proposed changes (or legislation) and planning ideas.



Objectives:
  • Analyze proposed or actual changes to the tax code as it relates to wealthy individuals.
  • Apply planning strategies to help clients navigate these changes.
06:00pm - 07:15pm EDT - June 6, 2022

Monday

The current generation-skipping transfer tax has been a part of our transfer tax system for over 30 years and yet it is still a topic that confounds many advisers. Each taxpayer may allocate GST exemption to gifts made during life or at death. The GST exemption also may be automatically allocated if the taxpayer does not elect out of the automatic allocation rules, which are complex. We will explain the rules for automatic and manual allocation on gift and estate tax returns, common return preparation problems and mistakes, and possible options to address prior mistakes. Learn about some GST exemption basics and practical tips, as well as about some common errors and misconceptions that advisers should know about regarding allocation of GST exemption.



Objectives:
  • Recognize how to allocate GST exemption and elect out of automatic allocation
  • Evaluate how to fix past mistakes regarding GST exemption allocations
11:00am - 12:15pm EDT - June 7, 2022

Tuesday

Did Grantor Trusts Survive the Challenges of the 2021 Tax Proposals? What Planning Can Be Done? Are GRATs, SLATs and IDGTs still viable planning techniques?



Objectives:
  • Determine the Status of Grantor Trusts and Their Viability in 2022
  • Apply the Key Elements of the Grantor Trust Rules
  • Analyze the optimal grantor trust planning techniques
12:30pm - 01:45pm EDT - June 7, 2022

Tuesday

From basics to the latest wrinkles. At this session you’ll learn what to avoid and what to focus on for maximum utilization of these popular retirement vehicles



Objectives:
  • Identify the pros and cons of Roth IRAs
  • Analyze eligibility requirements and tax issues
  • Apply tax and financial planning principles to assist clients with Roth planning
02:15pm - 03:30pm EDT - June 7, 2022

Tuesday

This session will explore the NIMCRUT and its close cousin, the Flip-CRUT in some detail, highlighting the NIMCRUT’s use in philanthropic planning. Additionally, the session will review suitability, investment approaches, administration, and pitfalls arising from the selection of the NIMCRUT format.



Objectives:
  • Evaluate the NIMCRUT in contrast to other charitable remainder trust alternatives
  • Differentiate between investment choices and their impact on NIMCRUT beneficiary distributions
  • Assess the suitability of a NIMCRUT for a given client fact pattern
Tuesday

Live from ENGAGE! The AICPA Town Hall Series is a high-impact news broadcast that delivers accounting and finance professionals with the latest analysis, insights and practical guidance to help them understand and respond to the most pressing issues facing the profession. The Town Hall Series is recognized by tens of thousands of practitioners as the profession’s go-to resource for timely and critical information, real-time interpretation and analysis, and a broader discussion on the strategies and capabilities that drive long term success. Town Hall panelists include practitioners, thought leaders, policy makers and a range of experts from across the profession, government and business. Join this special edition Town Hall as AICPA leaders bring the news desk to ENGAGE.



Objectives:
  • Identify Timely & Critical Information
  • Formulate Interpretation & Analysis
  • Recall Firm and Business Strategies
  • Recognize Practitioner Capabilities
05:30pm - 06:45pm EDT - June 7, 2022

Tuesday

A well-drafted trust can provide enhanced estate, creditor and divorce protection. Many of our clients have inferior trusts. This presentation will outline how to modify irrevocable trusts through the use of decanting, non-judicial settlement agreements and powers of appointment.



Objectives:
  • Determine how a trust can be designed to provide optimal creditor, divorce and estate tax protection
  • Identify circumstances where a modification to the trust would be beneficial to the client and their family
  • Differentiate the differences between decanting, non-judicial settlement agreements and powers of appointment, and how each can be used to achieve the optimal trust design
07:15pm - 08:30pm EDT - June 7, 2022

Tuesday

AICPA advocates for good tax policy, including on trust, estate, and gift tax issues. This session will cover the many developments and projects the TRP is advocating for in the estate and trust area. Contacts with Treasury, IRS, and Congress are emphasized.



Objectives:
  • Identify planning areas and recommendations.
  • Recognize estate and gift tax issues that affect your clients.