CLE on Using Lifetime QTIPs

The American Law Institute Continuing Legal Education (ALI CLE) is holding a CLE entitled, Creative Estate Planning Strategies for Using Lifetime QTIPs, on October 22, 2014 from 2:00 – 4:00 p.m. EDT via video webcast.  Here is why you should attend:

Lifetime QTIPs, once used infrequently, are now increasing in popularity as planners realize their benefits. In fact, the lifetime QTIP is perhaps one of the best and most under-utilized estate planning techniques.

Recent income and transfer tax law changes contribute to the utility of lifetime QTIPs, catapulting them into the mainstream for planners. The Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 and the American Taxpayer Relief Act introduced portability and generally increased the income tax rates relative to the estate tax rates. As a result, inter vivos QTIPs can be used to ensure that higher exclusions of both spouses are used notwithstanding the order of deaths and to achieve better income tax results, but that is just the tip of the iceberg!

Lifetime QTIPs must provide a qualifying interest for life to the beneficiary spouse, notwithstanding the possibility of divorce. The panel will include a recognized expert marital lawyer to sort through the marital law implications that must be considered when establishing a lifetime QTIP.