Teleconference on 2012 Gift Tax Return Prevention

The ABA Section of Real Property, Trust & Estate Law will host a teleconference entitled, An Ounce of Prevention Is Worht a Pound of Cure: Avoiding Common Pitfalls In Preparing 2012 Gift Tax Returns, from 12:00 to 1:30 pm on March 5, 2013. Provided below is a description of the event:

Last year was an especially busy time for estate planners, with many clients making large gifts in anticipation of the Fiscal Cliff. Following this spike in transactions, most attorneys and accountants will be preparing or reviewing an exceptionally large number of federal gift tax returns in 2013.

This program will address some of the common pitfalls in the preparation of the Federal Form 709, with a special focus on:

• Reporting issues related to GST tax allocations and compliance;
• Gift splitting;
• Transfers to Crummey trusts; and
• “Spousal access trusts.”

In addition, this program will provide tips for addressing mistakes on prior returns and anticipating potential audit issues.