Estate Planning for Education and Gifts to Minors CLE

Estate Planning for Education and Gifts to Minors

May 2013

Estate Planning for Education and Gifts to Minors

Convenient, timely, reliable, and affordable...

Teleseminars are midday continuing legal education conferences broadcast over the telephone. From the convenience of your office or home, you are able to dial into an 800 number, and hear nationally recognized practice leaders speak on important issues in the law. You are also able to ask them your questions. Teleseminars marry the best of technology and education to bring the world of CLE to your office or home.

How to Register

There are 2 easy ways to register:

1. CALL us! (303) 860-0608, or toll free (888) 860-2531

2. Or REGISTER ONLINE NOW by using the corresponding course links above.

Program Description:

There is a bewildering array of estate planning vehicles available to clients who want to provide for the educational expenses of children or others. They range from state-sponsored plans that are comparatively inflexible but tax-favored to private plans that are more flexible but might carry fewer financial incentives. The tax treatment of these vehicles - form statutorily-defined plans to various forms of trusts to custodial accounts - vary widely. There are also issues of control (how soon does a child or other beneficiary gain control of the funds, if ever?), the eligibility of beneficiaries, and what type of expenses may be covered. In each alternative, there are sophisticated tax, financial control and other tradeoffs. This program will provide you with a framework for understanding the range of alternatives and the practical financial, tax and control tradeoffs of each alternative.

Detailed review of alternatives for funding the educational expenses of children or others
How the “kiddie tax” impacts the use of various education funding plans
State-sponsored v. Independent 529 Plans - tax and control tradeoffs of each
Coverdell Education Savings Accounts (ESAs) - option for college and K-12 expenses
Use of custodial accounts under UTMA and UGMA
2503(c) Trusts and the annual exclusion
Crummey Trusts for multiple beneficiaries and children who are not minors
Integration with larger estate plans

Faculty:

Blanche Lark Christerson is a managing director at Deutsche Bank Private Wealth Management in New York City, where she works with clients and their advisors to help develop estate, gift, tax, and wealth transfer planning strategies. Earlier in her career she was a vice president in the estate planning department of U.S. Trust Company. She also practiced law with Weil, Gotshal & Manges in New York City. Ms. Christerson is the author of the monthly newsletter “Tax Topics." She received her B.A. from Sarah Lawrence College, her J.D. from New York Law School and her LL.M. in taxation from New York University School of Law.