Join us at our Member Meeting

Wednesday, April 27th at 11:30 AM

Using Installment Sales to Non-Grantor Trusts
for Estate and Income Tax Planning

Jerome Hesch, Esq., ACTEC, Of Counsel - Meltzer, Lippe, Goldstein & Breitstone, LLP

We've applied for approval to offer MCLE, CPE, CTFA, CA INS, CFP

Both In-Person and Virtual Attendance Available

In-Person Attendance: Members $40 and Non-members $50, Virtual Attendance: $30

In-Person Attendance

The Pacific Club
4110 MacArthur Boulevard, Newport Beach, California • www.pacificclub.org
Begins at 11:30am
Limited in person and spaced seating. Appropriate local mask and distancing rules will apply to all in person gatherings.

Virtual Attendance
Zoom link will be provided prior to meeting
12:00 pm - 1:00 pm
Click Here to Register Online for Both In-Person and Virtual

 

For individuals who desire to sell their business or investment assets while they are living, the step-up in basis at death is not an alternative. (i) A property structured installment sale to a non-grantor trust can allow the gain the seller realized on the installment sale to be reported by the seller far in the future even though the non-grantor trust sells the purchased asset for cash a few years later. (ii) How an installment sale to a non-grantor trust can be a viable estate freeze, taking advantage of valuation discounts and shifting a portion of the asset’s operating income and its subsequent appreciation in value out of the decedent’s estate. (iii) Unlike a grantor trust where the grantor trust’s income is taxable at the grantor’s highest income tax rates, a non-grantor trust can be used to shift taxable income to taxpayers in lower marginal income tax brackets. (iv) How an irrevocable non-grantor trust with intangible assets in a state with no state income taxes can be used to eliminate state income taxes and unlike the incomplete gift trust that, the trust is not exposed to the estate tax.

 
Jerome Hesch, Esq., ACTEC, Of Counsel
Meltzer, Lippe, Goldstein & Breitstone, LLP, Mineola, New York and Boca Raton, Florida

Jerome M. Hesch, Miami, Florida, serves as an income tax and estate planning consultant for lawyers and other tax planning professionals throughout the country. He is outside tax counsel to Meltzer, Lippe, Goldstein & Breitstone, LLP in Mineola, NY, Dorot & Bensimon, PA in Aventura, FL, The Jeffrey M Verdon Law Group in Newport Beach California, and Oshins & Associates in Las Vegas Nevada.

He is the Director of the Notre Dame Tax and Estate Planning Institute, this year scheduled for October 13 and 14, 2022, on the Tax Management Advisory Board, a Fellow of the American College of Trusts and Estates Council and the American College of Tax Council and is a member of the NAEPC Estate Planning Hall of Fame. He published numerous articles, Tax Management Portfolios, and co-authored a law school casebook on Federal Income Taxation, now in its fourth edition.

He presented papers for the University of Miami Heckerling Institute on Estate Planning, the University of Southern California Tax Institute, the Southern Federal Tax Conference, and the New York University Institute on Federal Taxation, among others. He participated in several bar association projects, including the Drafting Committee for the Revised Uniform Partnership Act.

He was with the Office of Chief Counsel, Internal Revenue Service, Washington, D.C. from 1970 to 1975, and for the next 20 years was a full-time law professor at the University of Miami School of Law and the Albany Law School, Union University. He continues to teach courses as an adjunct professor of law and has taught courses for Vanderbilt University Law School, University of Miami School of Law Graduate Program in Estate Planning, University of Buffalo School of Law, Florida International School of Law and On-Line LL.M. Programs for University of San Francisco Law School and Boston University School of Law. From 1982 through 1992 he was the Director of the Graduate Program in Estate Planning at the University of Miami.

Objective: Understanding complexities of Installment Sales to Non-Grantor Trusts for Estate and Income Tax Planning

There are no prerequisites for this program.
There is no required advanced preparation.
The Program Level for this will be intermediate.
Delivery Method: Group Live-Presented Online Due to Covid 19

Prerequisites and Program Content:
There are no prerequisite education or prior experience needed for any of STEP Orange County’s meetings or events. All sponsored events are relevant learning objectives to assist in the continuing education for MCLE and CPE. All levels are encouraged to participate and all participants will take away knowledge regarding the subject matter. There is also no advanced preparation needed for any of the meetings or events.The field of study for this program is Taxes and will be delivered by Group Live-Presented Online Due to Covid 19.

STEP Orange County is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE Credit. Complaints regarding registered sponsored may be submitted to the National Registry of CPE Sponsors through its web site: www.nasbaregistry.org

Compliant/Refund Resolution Policy:
For more information regarding administrative policies such as complaints and refunds, please contact Greg Custer or other Board Members of STEP Orange County.
Greg Custer: (949) 216-2202