Avatar

Structuring Defined Value Clauses in Trust Transfers: Formula Allocations and Price Adjustment Clauses:



Watch Now!
Recording and Slides are Available Here


This 90 minute program will cover defined value transfers from soup to nuts. Paul will cover all of the important cases and rulings involving defined value transfers beginning with the Fourth Circuit’s Procter decision and going up to the present with the Wandry decision. In particular, Paul will cover:

•If your clients are like mine were, their desire to make gifts often ends at what I call the “ gift tax county line;” i.e., where they started having to write checks to the government for the privilege of making gifts, irrespective of the wisdom of the gifting as an estate planning strategy.

•The problem with giving away subjectively valued assets is the uncertainty of actual fair market value of the gifted assets as finally determined for federal tax purposes. This dampened the verve for making large taxable gifts and sales of assets that could have a finally determined fair market value a multiple of the originally reported value on the tax return.

•Enter the defined value clause, which defines a gift or a sale or gift/sale as a formula that is tied to both the value that the client wants to give/sell and the value of the gift/sale as finally determined for tax purposes.

•Congress as well as the Treasury both expressly allow formula usage for gift tax purposes, e.g., in the areas of charitable remainder trusts, QTIP elections, disclaimers, and GRATs. Indeed, the Regulations expressly permit (and in some cases require) the use of a condition subsequent that would fail under Procter and its progeny.

•But IRS detests defined value transfers. Why?

•After addressing the basics, my webinar will cover a series of attempted transactions that I’m virtually certain won’t work, including the case that started it all-Procter. I’ll cover the cases and rulings where the IRS denied the effectiveness of a defined value clause of some sort.

•Then we’ll address those types of transactions that I think will definitely work if implemented and administered and reported correctly, looking at each case and ruling that is involved.

•We’ll conclude with a brief analysis of what I think might work, but for which there are no reported cases or rulings. 

There will be no CE for this webinar


For those who have a conflict with the date/time, The session will be recorded. Simply register and you will have unlimited access to the recording.

Although they are scheduled for a particular time and date - once purchased - they can be viewed at ANY TIME!.

If you are not a LISI member please use the Buy Now Button below to pay the non-member price of $149.

Registrant Email:

After you pay you will be sent a link with the registration information. Your webinar registration is designed for one individual user and groups up to 5 individuals. Sharing beyond this is not permitted. If you are interested in group access to our webinar content, please send an email to lisiwebinars@gmail.com

If you have any questions, please contact webinaradmin@leimbergservices.com

NOTE: To pay using a credit card, use the botton labeled
"Pay with Debit or Credit Card" after clicking the Buy Now button below.

If you are a LISI member, please login below to receive the member price of $129 for this webinar.

Forgot Password?

To become a LISI member Click Here

A native of Louisiana (and a double LSU Tiger), Paul Hood obtained his undergraduate and law degrees from Louisiana State University and an LL.M. in taxation from Georgetown University Law Center before settling down to practice tax and estate planning law in the New Orleans area. Paul has taught at the University of New Orleans, Northeastern University, The University of Toledo College of Law and Ohio Northern University Pettit College of Law. The proud father of two Eagle Scouts and LSU Tigers, Paul has authored or co-authored seven books and hundreds of professional articles on estate and tax planning and business valuation.  He was with The University of Toledo Foundation for over four years as Director of Planned Giving, leaving in January 2018. He can be contacted at 

paul@paulhoodservices.com



Avatar

Bob Keebler

August 12, 2020 1:00 PM ET - 2:30PM ET ET

Sales to Grantor Trusts – In a Low Interest Rate Economy - 2020 Update - A Special Re-Broadcast

More Info
Avatar

Bob Keebler

August 12, 2020 3pm 4:30 pm ET ET

NEW PPP LOANS: Phase 4 Coronavirus Package – A First Look

More Info
Avatar Avatar

Paul Hood Ed Morrow

August 13, 2020 1:00PM ET - 2:30PM ET ET

A Planner's Cheat Sheet for Evaluating Estate Planning Tools & Techniques: Part 2

More Info
Avatar Avatar Avatar

Alan Gassman Brandon Ketron Kevin Cameron

August 13, 2020 3:00PM ET - 4:30PM ET ET

PPP and EIDL UPDATE: August 4TH FAQ'S, NEW LOAN OPPORTUNITIES, ADDED QUALIFIED EXPENDITURES, HOW TO HANDLE REDUCTIONS IN WORKFORCE & UPDATE ON RUBIO-COLLINS BILL

More Info
Avatar Avatar

Martin Shenkman Eido Walny

August 14, 2020 3:00PM ET - 4:30PM ET

Martin Shenkman Eido Walny: Planning for Athletes

More Info
Avatar

Bob Keebler

August 14, 2020 11:00 AM ET - 12:30 PM ET

Best of The Best: The Very Best Tax Planning Ideas in 2020 - A Special Re-Broadcast

More Info
Avatar Avatar Avatar

Jonathan Blattmachr Martin Shenkman Teresa Bush

August 14, 2020 1:00PM ET - 2:30PM ET

Post Election Planning: The Coming Storm for Estate Planners and Their Clients - What Practitioners Should Do Now - A Special Re-Broadcast

More Info
Avatar Avatar Avatar

Jerry Hesch Martin Shenkman Alan Gassman

August 18, 2020 3:00PM ET - 4:30PM ET

Free LISI Webinar: The Biden 2-Step PLUS Martin Shenkman's Review of Topics and Planning Opportunities from the 46th Notre Dame Tax and Estate Planning Institute

More Info
Avatar

Bob Keebler

August 19, 2020 3:00 PM ET - 4:30 PM ET

Year-End Planning in 2020: Including Planning for a Potential Biden Administration - A Special Re-Broadcast

More Info
Avatar

Larry Katzenstein

August 20, 2020 3:00PM ET - 4:30PM ET ET

Incredible Low Interest Rates Present Once in a Lifetime Estate and Charitable Planning Opportunities!

More Info
Avatar

Steven Siegel

August 21, 2020 3:00PM ET - 4:30PM ET ET

The Perfect Storm of Bad News and Planning Opportunities for 2020 & Beyond: Crucial Planning Decisions for the 99%

More Info
Avatar

Steven Siegel

August 27, 2020 3:00PM ET - 4:30PM ET ET

Domicile Planning: Shopping and Changing – Is It Time to Get Out of Dodge?

More Info
Avatar Avatar

Paul Hood Ed Morrow

August 27, 2020 1:00PM ET - 2:30PM ET ET

A Planner's Cheat Sheet for Evaluating Estate Planning Tools & Techniques: Part 3

More Info
Avatar

Richard Nenno

September 17, 2020 3:00PM ET - 4:30PM ET ET

The Delaware Trust Option for Californians and Non-U.S. Individuals

More Info