10:00 am
Preparing for the Scheduled Sunset of Certain Provisions of the 2017 Tax Act.
Understand how and why rising interest rates affect clients’ estate plans. Gain insight into 2025 GreenBook proposals, including proposals, particularly those to eliminate defined value clauses, significantly impair grantor trust planning, curtail marketability and minority interest discounts, and increase tax rates. Consider options that may avoid state estate tax on death. Understand the 2024 inflation adjustments to estates, gifts, generation-skipping transfers, and income tax structures.
Sanford J. Schlesinger, Esq.
11:00 am
Latest New York Tax and Planning Developments
Hear about the most important recent developments, trends, and estate planning ideas, including the latest legislative developments; case law updates; estate, gift, and other tax law changes; tips to protect your clients and yourself from liability; and additional breaking state-level developments.
Sharon L. Klein, Esq.
Noon
What You Didn't Know About Charitable Giving Opportunities and How It Can Affect Pre-2026 Planning
This presentation will consider often-overlooked charitable giving opportunities that may solve estate and income tax issues to reduce potential taxes and serve as alternatives for affluent families who may have otherwise planned on making large annual gifts or engaging in other strategies. The discussion will include consideration of using Charitable Lead Annuity Trusts, Flip Net Income Make up Charitable Remainder Unitrusts, Partly Charitable Installment Sales, and Family Foundations for effective and practical planning.
Alan S. Gassman, J.D., LLM
1:00 pm – Lunch
2:00 pm
Working With Beneficiaries With Mental Health Challenges (DEI credit)
With one in five individuals struggling with a mental health disorder in their lifetime, it's essential that trusted advisors understand how to best work with this population. Beneficiaries of extreme wealth face higher incidence of anxiety, depression, and addiction. Trusted advisors who do not understand the red flags could be extremely detrimental to the mental and physical health of a beneficiary. From the estate planning process to the execution of the estate plan by the trustee, we'll help you identify the questions to ask, the important factors to consider, and some of the red flags you might come across in your own practice.
Amanda Koplin
Martin M. Shenkman, J.D., CPA, M.B.A.
3:00 pm
Estate Planning Mistakes and How to Fix Them - Issues to Be Alert for Pre-2026 Planning
This session will address a number of estate planning mistakes, particularly those that impact pre-2026 planning, including issues involving core planning concerns, portability, life insurance, grantor trusts, generation-skipping transfers, retirement plan management, and business succession planning.
Steven G. Siegel, J.D., LLM (Taxation)
4:00 pm
Integrating SLATs, Large Gifts, and Installment Sales for Pre-2026 Planning: A Mathematical Analysis
This session’s objective is to demonstrate how to implement an integrated plan that combines large gifts, installment sales, and SLATs into one proposal that takes advantage of the current exemptions before they are reduced in 2026. The session will illustrate and explain the math behind this common planning tool.
Professor Jerome M. Hesch, MBA, J.D.
5:00 pm
Section 6166 — Election to Defer the Federal Estate Tax Attributable to a Closely Held Business
The inclusion of an interest in a closely held business in a decedent’s estate may present a liquidity issue when it comes time to pay the federal estate tax. Section 6166 allows an estate that meets the statutory requirements to elect to pay the federal estate tax attributable to the interest in a closely held business over a period of approximately 15 years. If the estate tax exemption “sunsets” after 2025, many more estates with closely held businesses will find themselves subject to a federal estate tax liability without the liquidity to pay the tax. This program will discuss the detailed qualifications for the deferred payment of the federal estate tax, how and when to make the election, the interest rate payable on the deferred tax, how the IRS handles the election, what security the IRS may require, and how the IRS can accelerate the payment of the estate tax in certain situations.
Jeremiah W. Doyle, IV, Esq.
5:50 – 6:05 pm
Charitable Planning Tips
Stanley Baumblatt
Martin M. Shenkman, J.D., CPA, M.B.A.
