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When are Transfers to a MAPT or VAPT Completed Gifts?

$149.00

Webinar Recorded: November 5, 2015
Presented by Jeffrey Williamson, Esq., J.L. 
Williamson Law Group and Brian Albee, JD, ElderCounsel
Duration: 83 minutes

Description

Webinar Recorded: November 5, 2015
Presented by Jeffrey Williamson, Esq., J.L.
Williamson Law Group and Brian Albee, JD, ElderCounsel
Duration: 83 minutes

In this webinar you will gain a better understanding of when transfers to a MAPT or VAPT are completed gifts for federal transfer tax purposes, and if so, when a gift tax return is required. This informative webinar will discuss the gift tax rules as they relate to transfers to irrevocable trusts, like the EC Medicaid Asset Protection Trust® and the EC Veterans Asset Protection Trust®. You will learn why this is important to you, your practice, and your clients. You will gain invaluable insights from a former Internal Revenue Agent who became well versed in the audit policies and procedures of the IRS.

Topics covered:

  1. The Big Picture
    • Why should you care about this?
    • Why are transfers to an irrevocable trust better than outright gifts?
  2. Gift Taxes
    • Code and Regulations
    • Definition of “gift”
    • The gift tax only applies to “completed” gifts
    • Definition of “completed” gift
    • To file or not to file, that is the question
  3. Powers (Retained Testamentary LPOA)
    • Tax purpose
  4. Estate Inclusion of Completed Gifts
  5. 709 Filing Requirements
  6. Sample Tax-Return Preparation Disclaimer for Fee Agreements
  7. Questions

 

ElderCounsel Members – this presentation is available for FREE in the Video Library

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