COURSE DESCRIPTION
Interest rates are at historically low levels and the Federal Reserve has repeatedly made clear that they will remain so for the foreseeable future. Low rates create both opportunities and traps for estate planners. Several advanced planning techniques, including self-cancelling installment notes on sales of property to family members, rely on low rates to achieve tax-favored results. Though these planning techniques lower estate and gift taxes, they also produce income tax traps. For instance, if not properly structured, loans at low rates to a family member might result in imputed interest on the loan being attributed to the benefactor. This program will provide you with a practical guide to the estate and gift planning structures in a low interest rate environment and how to avoid income tax traps.
- Techniques for capitalizing on low interest rates in estate and trust planning
- Common income tax traps, including imputed interest on a loan to a child and election mistakes
- Utilizing installment sales to family members and low rate loans
- Techniques for using GRATs and Charitable Lead Trusts
- Understanding sales to intentionally defective grantor trusts
- Self-cancelling installment notes
Speaker:
Jeremiah W. Doyle, IV is senior vice president in the Boston office of BNY Mellon Wealth Management, where he provides integrated wealth management advice to high net worth individuals on holding, managing and transferring wealth in a tax-efficient manner. He is the editor and co-author of “Preparing Fiduciary Income Tax Returns,” a contributing author of Preparing Estate Tax Returns, and a contributing author of “Understanding and Using Trusts,” all published by Massachusetts Continuing Legal Education. Mr. Doyle received his B.S. from Providence College, his J.D. form Hamline University Law School, and his LL.M. in banking from Boston University Law School.