Capital Gains at Death and Gift
Senator Christopher Van Hollen and Representative Bill Pascrell have both introduced bills to repeal the step-up in basis and create a gain realization at death and gift. President Biden supports a similar framework as outlined in the Green Book and elsewhere.
In this fast-paced class, Robert S. Keebler, CPA/PFS, MST, AEP, (Distinguished) will address the proposals, including key draft statutes and planning ideas.
This is must-know knowledge heading into the back-half of 2021. It’s likely there will only be a few months to modify estate plans. Failing to get ahead, may mean your clients will be left behind.
- How gains will be recognized at death
- What gains will be realized upon gifting Identify the exemptions and exceptions for gifts made during life as well as after death
- Define the $1,000,000 exemption
- Discuss the primary residence exception
- Discuss the spousal exception
- Planning to mitigate the 39.6% rate
- Discuss how gifts to grantor trusts are treated
- Discuss how the Van Hollen and the Pascrell bills interact with the anti-grantor trust provisions of the Sanders legislation
- Discuss the proposed periodic forced recognition event for property long-held in trust
- Identify the 15-year payment option at death
- Risk of making or failing to make large gifts in 2021
Presented by: Robert S. Keebler, CPA/PFS, MST, AEP (Distinguished)
CLE: 1.0 general credit
States Pre-Approved: AR, CA, MO, NJ, NY, OK, PA, VT
(AK, AZ, CT, NH eligible to claim credit)
States Pending Approval: CO, GA, IL, NC, OH, TX, UT
We will apply for approval in other US states as registrations warrant,* with exception to the following: KS, RI, VA, WA**
* Approval process times will vary
** We will supply you with the information needed to self-apply