Estate Planning Update 2016

In the 2016 Estate Planning Update program, Attorney Lewis Gatch discusses often overlooked assets which trigger probate, such as savings bonds, Insurance on the life of another (often a child), insurance company stock, mineral rights, partial interest in real estate, and digital assets. The Ohio estate tax has been eliminated. The exclusion, AKA exemption, from federal estate tax per person is $5,450,000 and rising. In many cases a 706 should be filed even though the decedent's estate is less than the exclusion. This program explains why the 706 should be filed. Also discussed is how the ubiquitous AB Trusts have become dinosaurs. Because of the increased federal estate tax exemption and portability of the exemption, it is no longer necessary to fund the exemptions of both spouses by asset division and transfer. By providing the first spouse to die a general testamentary power of appointment over all the assets in a joint trust, all the trust contributions of both spouses receive favorable estate and income tax consideration, as blessed by PLR 200101021. Recent case law is also covered, including Cartwright v. Batner 2014-0HIO-2995, in which the Court held a Trustee liable for treble damages for Trustee’s theft from the trust. Finally, calculating your RMD and why children should elect stretch (traditional IRAs) when inherited.

7 part video, duration of 01:02:25.
Production Date
State Due Date Credit Information
Kentucky 6/30/2019 Kentucky Bar Association approved this course for 0.00 CLE Hour(s) of type General.

Lewis G. Gatch

Lewis G. Gatch

Lewis G. Gatch maintains law offices in Cincinnati, Ann Arbor and Traverse City where he is of counsel to the firm of Kuhn, Darling, Boyd, and Quandt, PLC.  He graduated from Princeton University in 1956; from the University of Michigan Law School in 1961; and earned a Masters in Business Administration degree (finance major) from Xavier University in 1973.  He practices in the areas of Probate, Estate Planning, the use of Living Trusts to avoid probate and estate tax, and he helps families with planned giving, including charitable remainder trusts and private foundations.  Mr. Gatch presents workshops in Cincinnati, Ohio, and in Traverse City, Michigan.  In Traverse City, Michigan, he has a call-in radio program "Everybody's Planning Hour"® on WTCM, 580 AM on Saturday mornings; and writes about estate planning topics.

$25.00 includes all states listed