Lauren Evans DeJong Presents Live Webinar05/23/2017
On May 23, 2017, Lauren Evans DeJong presented to attorneys and advisors across the country in a Strafford live webinar entitled “Structuring Joint Trusts in Separate Property Status to Avoid Income and Gift Tax Pitfalls."
Lauren discussed estate, gift and income tax considerations in utilizing, funding and administering a joint revocable trust in a separate property state and made drafting recommendations.
Issues discussed included:
- Deciding when counsel should recommend using a joint marital trust sited in a separate property state;
- Determining how to structure the trust to avoid gift tax consequences, both at the time of funding and settlement;
- Recognizing other possible adverse tax events, including income tax recognition requirements that may arise from funding a joint marital trust in a separate property state;
- Identifying non-tax considerations for utilizing a joint trust in a non-community property state; and
- Discerning useful drafting language to ensure that the trust is structured in a tax efficient manner.