Trust & Estate Planning for Liquidity - 2019

Liquidity is an almost universal need in trust and estate planning. When a client dies, death taxes may need to be paid.  Expenses incurred in administration need to be paid.  Distributions may be required under trust instruments.  For these and many other reasons, estates need cash.  The big challenge comes when the estate has assets that, though valuable, are not liquid.  Assets may include real estate that is not quickly or cost-effectively sold.  Or a successful family business may be involved, where ownership stakes are not easily transferred or for which there is no ready market.  Complex financial assets, artwork or other unique property, hard to value and hard to sell, may also be held.  Trust and estate plans must anticipate the need for liquidity and formulate strategies for providing it or deferring taxes and distributions until liquidity can be created. This program will provide you with a real world guide to practical strategies for creating liquidity in trust and estate planning.

• Challenges of planning for illiquid assets like real estate, family businesses, and unique property 
• Techniques and tools to fund tax liabilities, distributions, expenses and more
• Mechanics of electing a deferral of estate tax under IRC Section 6166
• Use and advantages of using Graegin notes to obtain liquidity 
• Advantages and disadvantages of use of redemptions and buy-sell agreements
• Use of life insurance and other financial products to provide liquidity

Speakers: William Kalish and Jeffrey M. Gad, Johnson Pope Bokor Ruppel & Burns, LLP, Tampa, FL

NOTE: This program was originally produced as a telephone seminar and is available on demand in streaming audio. This material qualifies for self-study credit only. Pursuant to Regulation 15.04.5, a lawyer may receive up to six hours of self-study credit in a reporting year. Self-study programs do not qualify for ethics or elimination of bias credit.