Total Credits: 1.0 CLE
Estate planners use a myriad of techniques to pass wealth on from one generation on to the next generation while minimizing the estate, gift, generation-skipping transfer taxes. And, when incorporating income tax planning as part of the estate plan, the estate planner typically focuses on step-up in basis at death and using assignment of income to lower income taxes. An obstacle the senior generation faces with a successful estate plan is that the senior generation has to relinquish control over the transferred assets.
There is an investment vehicle that permits the senior generation to eliminate the transfer tax exposure for both the senior generation and their descendants, that can also create an investment vehicle that generates investment income that is not subject to income taxes. And, access to tax-free income can be passed on from generation to generation.
Often overlooked by estate planning attorneys, the 529 Plan accomplishes all of this and more. This presentation will briefly describe the rules surrounding 529 Plans and then describe how estate planning attorneys can use this versatile and income tax-free tool to create a dynasty-style trust for their clients’ descendants.
Focused for the Non-Specialists!
| Seminar Materials.pdf (2 MB) | 28 Pages | Available after Purchase |
| INSTRUCTIONS FOR COMPLETING SEMINAR AND RECEIVING CLE CREDIT2.docx (11.7 KB) | 1 Pages | Available after Purchase |
Ms. Cohen has over 30 years of experience in the area of trusts and estates. She is a member of Fiduciary Trust’s Management and Operating Committees and is also Chair of Fiduciary Trust International of the South. Before joining Fiduciary Trust in 1994, Gail was a trusts and estates associate at the law firm of Debevoise & Plimpton. Previously, she was an associate at the law offices of Edward S. Schlesinger, P.C. Gail is a former Chair of the New York Bankers Association and sits on its investment committee. She has the distinction of having served as the Association’s first woman Chair, as Vice Chair, and as Treasurer. Gail was named one of the “Top 50 Women in Wealth,” selected by Advisor One (2010 and 2011) and is a Fellow of the American College of Trust and Estate Counsel (ACTEC). She holds the Distinguished Accredited Estate Planner designation, has been elected into the NAEPC Estate Planning Hall of Fame, and has been honored by the Trusts and Estates Lawyers Division of the UJA. Gail currently sits on the Investment Committee of the New York City Bar Association and is a former member of that Bar Association’s Committee on Estate and Gift Tax, which she chaired from 1998-2001. She serves on The Rockefeller University Committee on Trust and Estate Gift Plans, the Hospital for Special Surgery Advisory Council, the New York Historical Society Professional Advisory Committee, the Professional Advisory Committee of the Jewish Federation of South Palm Beach County, the Board of Trustees of the Boca Raton Museum of Art, and the Professional Advisory Boards of the Anti-Defamation League in Florida and Jewish Adoption and Family Care Options (JAFCO). She has also served as an adjunct professor of law at Brooklyn Law School and is a frequent writer and lecturer for attorney groups, including University of Miami’s Heckerling Institute (2014), as well as Practicing Law Institute to the New York State Bar Association and Society of Trust and Estate Practitioners. She received a Bachelor of Arts degree from Mount Holyoke College and a Juris Doctor degree, summa cum laude, from Brooklyn Law School. She is admitted to the Bars in New York and New Jersey.
Jerome M. Hesch, Miami, Florida, is one of the leading trust and estates attorneys in the United States. He serves as an income tax and estate planning consultant for lawyers and other tax planning professionals throughout the country. He is Special Tax Counsel to Oshins & Associates in Las Vegas Nevada, and Meltzer, Lippe, Goldstein & Breitstone, in Mineola, NY. He is the Director of the 42nd Annual Notre Dame Tax and Estate Planning Institute, scheduled for October 26 and 27, 2017 in South Bend, Indiana, on the Tax Management Advisory Board, a Fellow of American College of Trusts and Estates Council and the American College of Tax Council, has published numerous articles, Tax Management Portfolios, and co-authored a law school casebook on Federal Income Taxation, now in its fourth edition.
Jerry has presented papers for the University of Miami, Heckerling Institute on Estate Planning, the University of Southern California Tax Institute, the Southern Federal Tax Conference, and the New York University Institute on Federal Taxation, among others. He participated in several bar association projects, including the Drafting Committee for the Revised Uniform Partnership Act.
He received his BA and MBA degrees from the University of Michigan and a JD degree from the University of Buffalo Law School. He was with the Office of Chief Counsel, Internal Revenue Service, Washington, D.C. from 1970 to 1975, and was a full-time law professor from 1975 to 1994, teaching at the University of Miami School of Law and the Albany Law School, Union University. He is currently an adjunct professor of law, teaching courses at the Florida International University Law School, the On-Line LL.M. Program at the Boston University Law School and the Vanderbilt Law School.
Mobile Attorney Irving Silver provides guidance to his firm’s clients on a wide range of business and estate planning matters as well as charitable and business strategies including the formation and operation of charitable foundations. He earned the AEP® (Accredited Estate Planner) designation which was awarded by the National Association of Estate Planners and is a member of the National Academy of Elder Law Attorneys. Irving was elected to membership in the Special Needs Alliance, a national, not for profit organization of attorneys with extensive experience and skill in providing counseling and planning for individuals with disabilities and their families.Following Irving’s military service, he earned his undergraduate degree from the University of Alabama School of Commerce and Business Administration and his law degree from the University of Alabama School Of Law. A longtime activist in regionally, nationally and internationally on a broad array of religious and civic causes, Irving currently serves as Chair of the B’nai B’rith Foundation of the United States and as a member of the board of directors of The American Jewish International Relations Institute (AJIRI). Previously he served as the former Chair of the B’nai B’rith International’s Center for Public Policy, B’nai B’rith District Seven, Jewish Federation of Mobile, Jewish Family Services of Mobile and the Community Foundation of South Alabama. For over 20 years Irving served as a member of the board of the Jewish Institute for National Security Affairs.
He previously served as a Trustee of the Alabama Law Foundation based in Montgomery, Alabama; and is a founding charter member of the Foundation’s Atticus Finch Society. In recognition of his service as a longtime Trustee of Spring Hill College, a Jesuit institution in Mobile, Irving received its Ignatian Award. The Community Foundation of South Alabama named him in 2016 its Philanthropist of the Year.
