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Income Tax Planning for Estates, Trusts & Beneficiaries – Seminar Held on June 5, 2013

Dean Mead’s Estate and Succession Planning Department held a seminar on June 5, 2013 in Orlando on the topic of “Income Tax Planning for Estates, Trusts & Beneficiaries” with more than 70 people in attendance.   The outline from this seminar can be found here: Income Tax Outline (O0866212-6).

Program OverviewIncome tax planning often is secondary to estate and gift tax considerations in planning involving trusts and estates.  However, the importance of income tax planning should not be underestimated because even the slightest mistake can be just as costly.  This presentation will address a variety of income tax issues that affect trusts, estates and beneficiaries, including planning with grantor and non-grantor trusts, ownership of S Corporation stock by estates and trusts, charitable income tax planning through the use of trusts, and the application of the Net Investment Income surtax (the “3.8% Medicare Tax”) to trusts and estates.  We will also discuss techniques to minimize income tax and pitfalls to avoid in trust and estate administrations.

Speakers from Dean Mead:

Lauren Y. Detzel is chair of the firm’s Estate and Succession Planning Department and specializes in techniques to reduce or avoid paying estate tax such as family limited partnerships, grantor retained annuity trusts (GRATs), sales to intentionally defective trusts, charitable trusts, lifetime gifts and generation-skipping trusts. Particular emphasis includes planning for the succession of closely held or family businesses. She also handles many contested tax matters in the transfer tax area, ranging from audits of returns and administrative appeals within the IRS to Tax Court and Federal District Court litigation. Ms. Detzel handles the entire gamut of administration of estates and trusts, including contested matters of will and trust interpretation and reformation.

Stephen R. Looney is the Chair of the firm’s Tax Department. He represents clients in a variety of business and tax matters including entity formation (S and C corporations, partnerships, and LLCs), acquisitions, dispositions, redemptions, liquidations, reorganizations, tax-free exchanges of real estate and tax controversies. His clients include closely held businesses, with an emphasis on medical and other professional practices. He is a former Chair of the S Corporations Committee of the American Bar Association’s Tax Section. He is Board Certified in Tax Law by the Florida Bar, as well as being a Certified Public Accountant (CPA).

David J. Akins provides representation in the area of personal wealth planning, with an emphasis on gift planning, charitable planning, estate planning, probate, and the administration of estates and trusts. A significant portion of his practice is related to planning for family-owned and closely held businesses. He represents taxpayers in gift, estate and GST tax controversies with the IRS. Mr. Akins also represents fiduciaries and beneficiaries in disputes involving estates and trusts.

Matthew J. Ahearn is Board Certified in both Wills, Trusts & Estates and Tax Law by The Florida Bar Board of Legal Specialization. He has extensive experience in the areas of estate and business succession planning, asset protection planning, charitable planning and planning to minimize or avoid wealth transfer taxes. Mr. Ahearn handles all aspects of probate and trust administrations, including estate and gift tax audits before the IRS. He represents both beneficiaries and fiduciaries in contested matters.

Brian M. Malec handles all aspects of estate and succession planning, including the implementation of wills, trusts, business entities and sophisticated estate planning techniques to protect and transfer wealth among individuals and families while minimizing income, gift, estate and generation-skipping transfer taxes. Mr. Malec also handles all aspects of probate and trust administration, including advising fiduciaries throughout the administrative process and representing beneficiaries seeking to assert their rights in estate or trust.

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Income Tax Outline (O0866212-6)