GA Runoff Elections Concluded: Anticipated Tax Changes Affecting Estate Planning for This and Future Years

Tuesday, January 12, 2021

4:00 pm ET (1:00 pm PT)

View Recording

Speakers

Jonathan G. Blattmachr, Esq.

Robert S. Keebler, CPA/PFS, MST, AEP

and Martin M. Shenkman, Esq.

 

Webinar Description

The tax world is likely to change (yet again!) and if so, that will have far reaching economic effects. You and your clients need be prepared…not later this year, not later this month, but NOW.  Although we cannot know what will be proposed by the Biden Administration, we have plenty to consider. And it is likely that Biden administration tax proposals can be enacted under a Budget Reconciliation Act, which cannot be filibustered. This webinar will discuss what the most likely and most consequential tax proposals are likely to be, and how you can help your clients prepare for them now.

The webinar will cover some major income tax changes from the potential loss of tax free exchanges for real estate under Section 1031, the taxation of capital gain at ordinary income tax rates (if total income is above $1 million for the year), decrease of benefits of qualified opportunity zones, increase in corporate tax rates, a modest rise in individual rates, potential restoration of full deduction for state and local taxes, but limiting the benefit of any and all deduction to a rate of nor more than 28%, and more.

Changes relating to estate planning likely also will be adopted, including a reduction in the exemptions (possibly to $5 million or $3.5 million or even less), a limit on the aggregate benefit of the annual exclusion, a modest increase in rates, and perhaps of greatest consequence the elimination of the tax free step up in basis.  We will discuss ways to plan now but with some options to back out of action if it turns out the steps taken were too hasty or incorrect.


Webinar Speakers

Jonathan G. Blattmachr, Esq., InterActive Legal Founder ^

Jonathan G. Blattmachr has over 35 years of experience in trusts and estates law and is currently a Principal at Pioneer Wealth Partners, LLC. He is a retired member of Milbank Tweed Hadley & McCloy and the Alaska, California and New York Bars. Mr. Blattmachr writes and lectures extensively on estate and trust taxation and charitable giving and has authored or co-authored eight books and over 500 articles on estate planning topics. He also co-developed Wealth Transfer Planning™, an InterActive Legal software system published for lawyers that provides specific client advice and automated document assembly for wills, trusts, powers of attorney, and other estate planning documents.


Robert S. Keebler, CPA/PFS, MST, AEP (Distinguished) ^

Robert S. Keebler, CPA/PFS, MST, AEP (Distinguished) is a partner with Keebler & Associates, LLP and is a 2007 recipient of the prestigious Accredited Estate Planners (Distinguished) award from the National Association of Estate Planners & Councils.  He has been named by CPA Magazine as one of the Top 100 Most Influential Practitioners in the United States and one of the Top 40 Tax Advisors to Know During a Recession.  His practice includes family wealth transfer and preservation planning, charitable giving, retirement distribution planning, and estate administration.  Mr. Keebler frequently represents clients before the National Office of the Internal Revenue Service (IRS) in the private letter ruling process and in estate, gift and income tax examinations and appeals, and he has received more than 250 favorable private letter rulings including several key rulings of “first impression.”  He is the author of over 100 articles and columns and is the editor, author or co-author of many books and treatises on wealth transfer and taxation.  Mr. Keebler has been a speaker at national estate planning and tax seminars for over 25 years including the AICPA’s: Estate Planning, High Income, Advanced Financial Planning Conferences, ABA Conferences, NAPEC Conferences, The Notre Dame Estate Planning Conference and the Heckerling Estate Planning Institute and is the immediate past chair of the AICPA’s Advanced Estate Planning Conference.


Martin M. Shenkman, Esq., InterActive Legal Advisor ^

Martin M. Shenkman is an attorney in private practice in Fort Lee, NJ, and New York City. His practice concentrates on estate and tax planning, planning for closely held business, and estate administration. Mr. Shenkman is an author of over 40 books and more than 800 articles. He is an editorial board member of Trusts & Estates Magazine and the Matrimonial Strategist, and an advisor for InterActive Legal. He is the recipient of many awards including being a 2013 recipient of the prestigious Accredited Estate Planners (Distinguished) award from the National Association of Estate Planning Counsels. Mr. Shenkman was named Financial Planning Magazine 2012 Pro-Bono Financial Planner of the Year for his efforts on behalf of those living with chronic illness and disability. Investment Adviser Magazine featured him on the cover of its April 2013 issue naming as the lead of their “all-star lineup of tax experts.”


Webinar Sponsors


CLE Credits

InterActive Legal is not an approved Continuing Education Sponsor. However, several states and regulatory agencies for a variety of professionals that participate on our teleconferences may still receive continuing education credit for their participation. If a participant wishes to receive CE credit for their participation in these teleconferences, they must apply to receive credit on their own and through their individual states and regulatory authorities. It is the responsibility of the participant to file for CE credit and is not guaranteed by the webinar sponsors.


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