Preparing New IRS Form 8971

March 16, 2016

Hot Topic Webinar

Presented by Howard M. Zaritsky and Michael L. Graham

View Recording

This webinar will examine new Internal Revenue Service Form 8971 (Information Regarding Beneficiaries Acquiring Property From a Decedent) and the proposed and temporary regulations published March 4, 2016, that provide guidance for filing this form.  Form 8971 must be filed by certain estates beginning as early as March 31, 2016.  Its purpose is to provide the IRS and estate beneficiaries with estate tax value information in order to better ensure consistent basis reporting when assets received from a decedent are transferred or sold.  The speakers will discuss which estates must file Form 8971, preparation of the form, and other related issues.

Michael L. Graham is CEO of ILS Management, LLC and Managing Partner of the Dallas based law firm of The Graham Law Firm, P.C.

Prior to 1994, Mr. Graham was with the law firm of Baker & Botts for 22 years, first as a partner in the Houston Business and Estate Planning group, and then as partner in charge of B&B’s Business and Estate planning group in Dallas. Mr. Graham limits his practice to substantial matters involving business and estate planning, administration of estates and trusts, and fiduciary based litigation.

Mr. Graham received his J.D., cum laude, from Baylor School of Law (1972), and BBA from Baylor University (1971). He is Board Certified in Estate Planning and Probate Law in Texas. Mr. Graham’s professional activities include: Fellow of, and past Regent of, the American College of Trust and Estate Counsel; Past Supervisory Council Member of the American Bar Association’s Real Property, Probate and Trust Law Section, Co-Chair of the Digital Signature Committee; Past President of the Texas Academy of Probate and Trust Lawyers; Past Chair of the Real Estate, Probate and Trust Law Section of the State Bar of Texas; and Fellow of the International Academy of Estate and Trust Lawyers.

Howard M. Zaritsky is an attorney who consults exclusively with other attorneys and estate planning professionals on estate tax and estate planning issues and serves as an expert witness on estate and trust administration and planning and related income, estate, gift and GST tax questions. He was for 20 years a partner in the Fairfax, Virginia law firm of Zaritsky & Zaritsky, where his practice was limited to estate planning and administration, and related tax matters. Before that, he was for eight years a legislation attorney for the Congressional Research Service, where his responsibilities included advising members of congress and committee staff on tax matters. He is a member of the Virginia State Bar and the Virginia Bar Association, and has been a lecturer at most major tax and estate planning institutes. He is the author or co-author of over 200 articles, three Tax Management Portfolios, and a dozen treatises.

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 InterActive Legal.

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