Gifts by Business Owners: Great to GRAT & IDing When To IDGT
Category: On Demand
Member Price: $184
Non-Member Price: $230
Areas of Law: Real Property, Trust, & Estate
| NJ CLE: | NJ CLE information: This program has been approved by the Board on Continuing Legal Education of the Supreme Court of New Jersey for 2.4 hours of total CLE credit (Full Credits Available: NJ General: 2.4). |
| NY CLE (t&nt): | NY Professional Practice Non-Transitional: 2.0 |
| PA CLE: | PA Substantive Credit: 2.0
New: No PACLE fee is required for this program. To earn PA CLE credits, a valid PA Bar ID number must be entered into the CLE form provided after attending the program. |
Keynote
Moderator
- Brian M. Balduzzi, Esq.
- Faegre Drinker Biddle & Reath LLP, Philadelphia
Presenters
- Abbey Horwitz, Esq.
- Coughlin Midlige & Garland LLP, Morristown
- Lisa S. Presser, Esq.
- Faegre Drinker Biddle & Reath LLP, Princeton
Closely held business owners may be interested in some of the same estate planning strategies used by other high-net-worth clients. These clients need estate tax and succession planning to help them effectively and efficiently transfer their wealth, including their businesses, to their loved ones. A Grantor Retained Annuity Trust (GRAT) and an Intentionally Defective Grantor Trust (IDGT) are two popular vehicles for transferring future appreciation in the value of closely held business interests to an owner’s loved ones. However, these strategies must be applied intentionally and carefully by these clients and their advisors. In this session, panelists will:
- Review the common options for structuring a GRAT and identify some of the pitfalls, and pose solutions, for closely held business owners
- Differentiate the value of an IDGT and explain potential planning for closely held business interests
- Discuss and emphasize some of the gift tax reporting and disclosure requirements for such transfers
Program Agenda:
- 9:00 | Introductions - Abbey Horwitz, Esq.; Lisa S. Presser, Esq. and Brian M. Balduzzi, Esq.
- 9:10 | Grantor Retained Annuity Trusts (“GRAT”) - Lisa S. Presser, Esq.
- 9:45 | Intentionally Defective Grantor Trusts (“IDGTs”) - Brian M. Balduzzi, Esq.
- 10:15 | Gift Reporting and Disclosure Requirements and Best Practices - Abbey Horwitz, Esq.
- 10:50 | Questions and Answers with Next Steps
- 11:00 | Adjourn