DOUBLE HEADER! INGs and Spousal Lifetime Access Non-Grantor Trusts (SLANTs) PLUS IRC 678 and the Beneficiary Deemed Owner Trust

Date: Tuesday, March 26, 2019
Time: 4:30pm - 8:00pm
Location: Santa Ana Country Club | 20382 Newport Bouleard | Santa Ana 92707
Speaker: Edwin Morrow III, US Bank Private Wealth Management

INGs and Spousal Lifetime Access Non-Grantor Trusts (SLANTs) – Not Just for State Income Tax Avoidance: How “INGs” and “SLANTs” Can Save State Income Taxes and Why Tax Reform Makes Them Even More Powerful
4:30 to 5:30 PM 

Incomplete Gift, Non-Grantor Trusts ("INGs") have been steadily increasing in use. The reduction in deduction for state and local income taxes (SALT) and continuingly favorable court decisions will only make them more so. Additionally, the doubling of estate/gift/GST exemption, greater tax shifting opportunities, the de facto elimination of the charitable deduction for many and the new 20% deduction for qualified business income may also cause an increase in the use of completed gift non-grantor trusts, (when's the last time you considered one of those!). Read more.

IRC 678 and the Beneficiary Deemed Owner Trust 
7 to 8 PM 

Income tax benefits of such trusts include much simpler tax reporting, lower tax brackets, capital gains tax exclusions for residences, much more favorable Section 179 expensing, disregarded transactions, firmer S corporation status, charitable deductions for business income, more favorable life insurance and annuity rules, better treatment for capital losses, and many more benefits often overlooked.

Asset protection for such trusts, while seemingly substandard, is hardly a disaster. Any ill effects of a withdrawal power can not only be counteracted but even turned into an advantage over other trust designs. A 50-state comparison chart will be included which summarizes the various state asset protection statutes and law around powers of withdrawal and lapses. 

Note:  Both presentations qualify for 1-hour of CE for MCLE, CPA, Professional Fiduciary and Trust Officers.  Both presentations are pending approval for 1-hour CE with the CFP Board of Standards.  Due to time constraints, neither program qualify for continuing education credit for life insurance. 


Edwin Morrow III
Regional Wealth Strategist for the Eastern U.S.
US Bank Private Wealth Management

Ed is currently the Regional Wealth Strategist for the eastern U.S. for U.S. Bank's Private Wealth Management, where he concentrates on thought leadership and planning ideas for high net worth clientele in tax, asset protection and estate planning areas. Previously, he was a Director in Key Private Bank's Family Wealth Advisory Group, analyzing tax, trust and estate planning needs of ultra high net worth clients of Key Private Bank nationwide in conjunction with local teams of credentialled financial planners, trust officers, investment specialists and private bankers.

Ed was previously in private law practice working in taxation, probate, estate and business planning. Other experience includes research and writing of legal memoranda for the U.S. District Court of Portland, Oregon as a law clerk. He is a Fellow of the American College of Trust and Estate Counsel (ACTEC). He is a Board Certified Specialist (through the Ohio State Bar Assn) in Estate Planning, Trust and Probate Law, a Certified Financial Planner (CFP) professional and a Certified Merger & Acquisition Advisor (CM&AA). He is also a Non-Public Arbitrator for the Financial Industry Regulatory Authority (FINRA) and a member of the Editorial Advisory Board of the Probate Law Journal of Ohio.

Ed is a frequent speaker at CLE/CPE courses on asset protection, tax and financial and estate planning topics, and recently co-authored, with Stephan Leimberg, Paul Hood, Martin Shenkman and Jay Katz, the 18th Edition of The Tools and Techniques of Estate Planning, a 997-page practice-based resource on estate planning.

Due to extenuating circumstances, Jonathan Blattmachr will not be speaking on March 26th. 


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