2023 Symposium DOWNLOAD DIGITAL SLIDES
Five common law states have enacted community property opt-in trusts for your clients to achieve a complete step-up in tax cost basis upon the death of the first spouse. Better yet – your clients don’t have to be a resident of one of these states to create a trust. Does the IRS have any issue with the strategy? Learn the whos, whats, hows, whys – and when to use this valuable tool.
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We’ll review together
- What do these laws have in common, and what don’t they?Drafting tips – and pitfalls to avoid
- When should you use a community property opt-in, and when you shouldn’t
- How will the IRS react?
- Asset Allocation strategies
- What happens if the parties divorce?
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