Pulling Back The Curtain: Dealing With Oft-Overlooked State Death Taxes

    By Rebecca Rosenberger Smolen, Ryan M Harding and Susan Dromsky-Reed

    Pulling Back The Curtain: Dealing With Oft-Overlooked State Death Taxes

    Pulling Back The Curtain: Dealing With Oft-Overlooked State Death Taxes

    By Rebecca Rosenberger Smolen, Ryan M Harding and Susan Dromsky-Reed

    DO YOUR CLIENTS NEED TO WORRY ABOUT STATE DEATH TAXES? WHAT PLANNING SHOULD BE CONSIDERED FOR STATE DEATH TAXES? PROGRAM INFORMATION For many years, the federal estate tax credit for state death taxes meant that many estate plans did not need to consider the impact of those taxes on a clients estate planning. Since the credit ...
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    DO YOUR CLIENTS NEED TO WORRY ABOUT STATE DEATH TAXES?WHAT PLANNING SHOULD BE CONSIDERED FOR STATE DEATH TAXES? PROGRAM INFORMATIONFor many years, the federal estate tax credit for state death taxes meant that many estate plans did not need to consider the impact of those taxes on a client's estate planning. Since the credit was phased out and then replaced with a deduction in 2005, many states have decoupled, enacting estate or inheritance taxes that can be traps for the unwary. Clients living in states that do not have a death tax may own property in states that do. Our panel will discuss:
    • Common approaches to state death tax legislation and responses to changing federal law
    • Recent developments regarding state death taxes
    • How state death tax statutes may (or may not) apply, with an emphasis on planning opportunities (e.g., "state only" QTIP elections, death-bed transfers, etc.)

    Product Details

    Sponsors

    Section of Real Property, Trust and Estate Law

    Product Code

    5430541AUD

    Publication Date

    9/1/2010 12:00:00 AM

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