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Self-Study — Course Detail

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Mathematics of Gifting & Inter Vivos Sales
Robert Keebler
Copyright© 2012

Course: 8112405   Version 1208

NASBA Category:     Taxes     CPE Credits 1
CTEC Credits: 1 Federal / California
Level: Basic    Run Time: 1.0 Hours
Prerequisite: There are no prerequisites.
Advance Preparation: None.
IRS Program Nbr: 0MYXB-T-00196-12-O





Course Description
DROPPED 12/11/2012

Most practitioners understand the basic advantages of transactions such as GRATs, SCINs, and private annuities. What many do not understand, however, are the quantitative "forces" that make these transactions work. Once understood from a quantitative perspective, it is easier to effectively design a successful overall estate plan. In this course, we discuss the mathematics behind the most popular estate planning transactions used today and how these transactions can be used in combination with each other so as to create the perfect hedge against estate and gift taxes.

This course covers the following topics:

• Tax exclusive nature of gift taxes
• Leveraging of the GST exemption
• Grantor retained annuity trusts (GRATs)
• Installment sales to intentionally defective grantor trusts (IDGTs)
• Self-canceling installment notes (SCINs)
• Private annuities
• “Tax burn” SCINSM technique
 
 

Western CPE has been approved by the California Tax Education Council to offer Course Title (2071-CE-0213), which provides 1 hour of federal credit and 0 hours of state credit towards the annual “continuing education” requirement imposed by the State of California. A listing of additional requirements to register as a tax preparer may be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA, 95812-2890, toll-free by phone at (877) 850-2832, or on the Internet at www.ctec.org.


Table of Contents

Learning Objectives
Upon successful completion of this course, participants will be able to:
  • Calculate the estate tax payable by estates of decedents dying in 2012.
  • Calculate the effective gift tax rate corresponding to any estate tax rate.
  • Calculate the amount of the tax-free transfer produced by a zeroed-out GRAT.
  • Identify the advantages and disadvantages of grantor retained annuity trusts (GRATs), sales to intentionally defective grantor trusts (IDGTs) and private annuity sales; and explain some of the mechanics of a self-cancelling installment note.
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