This program is not active.
Image of 2020 Defined Value Clauses: Drafting & Avoiding Red Flags Audio Replay
Advanced CLE

2020 Defined Value Clauses: Drafting & Avoiding Red Flags Audio Replay


Total Credits: 1.2 MCLE, 0.0 Kansas Credit

Practice Area:
Trusts, Estate Planning & Probate
License:
Access for 1 year(s) after program date.


Description

Formula and defined value clauses are used in estate planning to attempt to “fix” the value of property transferred in a lifetime gift, testamentary transfer, or sale.  These clauses are also frequently used in marital deduction and credit shelter trusts, and GST allocations.  Carefully drafted formula clauses can withstand IRS scrutiny and optimize tax outcomes for a client’s estate. But the IRS is aggressive in challenging formula clauses as not reflecting economic reality and understating the value of the property transferred. This program will provide you with an in-depth discussion of the uses of formula clauses, regulatory and case law developments, and practical guidance in drafting clauses to avoid red flags and withstand IRS scrutiny. 

  • Types of clauses – formula allocation by subsequent agreement, final value for gift taxes, or price adjustment
  • Use in marital deduction and credit shelter trusts, and GST Tax allocations
  • Spotting red flags that may trigger IRS scrutiny
  • Case law and regulatory developments
  • Special considerations in “de-coupled” states

Materials

Cancellation Policy

Click HERE to review the Cancellation Policy.

Please wait ...

Back to Top