PFP2615. Strategic Tax Planning and Asset Protection Trusts, including Elder Care and Special Needs

Asset protection trusts are frequently used in the context of elder care and special needs planning. We will discuss strategies to address challenging trust tax structures and diverse assets such as IRAs, real estate, annuities, and business interests. We will compare available tax opportunities, highlight lurking tax traps, and compare techniques to maintain tax benefits. Optimizing tax basis step up and residential tax
exemptions will be covered.

Robert S. Barnett and Stuart H. Schoenfeld will present an in-depth presentation focusing on the intersection of tax law with elder care and special needs planning. Topics will include the following:
*How to insure that the Medicaid trust does not result in adverse tax
consequences.
*Domicile issues to be considered with elder care planning
*§1014(a) Basis of trust property and protecting the step up upon death
*Potential tax pitfalls of using joint trusts
*Incorporating QTIP and credit shelter provisions to a Medicaid protection trust
*Proper drafting for compliance with grantor trust rules
*Elder care planning with annuities
*Taxation of Supplemental Needs Trusts and
*Supplemental Needs Trusts after the Secure Act.