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Liens from Deferred Estate Tax; Grantor Trusts & Basis Step-Up; Gifts of Business Interests


Drawn from Steve Gorin’s 1st quarter 2023 newsletter, this course discusses liens from deferred estate tax on businesses; irrevocable grantor trusts and basis step-up; charitable gifts of business interests. 

Some business owners rely on estate tax deferral for their business interests.  Most of them are unaware of automatic secret liens and how the IRS’ need to secure payment of estate tax may interfere with their businesses’ ability to retain and expand loans or fidelity bonds.  The IRS recently updated its lien procedures.  We will discuss these issues. 

Revenue Ruling 2023-2 confirmed that assets held in an irrevocable grantor trust do not get a basis step-up merely because the deemed owner died.  We will discuss how premature death can cause a sale to an irrevocable grantor trust to cost more than it saves and discuss how a preferred partnership may be an attractive alternative. 

Finally, we will discuss a recent case that radically departed from precedent regarding when a donor will be taxed on a charity’s sale of a donated asset.  The case also addressed what constitutes “delivery” of stock.  We will discuss planning in light of this case, as well as other issues relating to donating a business interest. 

The live presentation of this webinar was approved for 1.5 hours of general CLE credit in California, Illinois, and Texas; 1.8 hours of general CLE credit in Missouri; and 1.5 hours of professional practice CLE credit in New York. Please visit the CLE Overview page to see how the CLE credit for this recorded webinar can be applied in CA, IL, MO, NY, & TX. 

If you are interested in receiving CA, IL, MO, NY, or TX CLE credit for watching the recorded presentation, you must register for the program by clicking here. If you are not interested in receiving CLE credit, you can watch the presentation by clicking the play button on the video.

Participants will only be emailed a Certificate of Attendance if the webinar is viewed in its entirety. If you were unable to view the webinar in its entirety, please contact webinarinquiries@thompsoncoburn.com to see if you are eligible to receive partial credit. 

If you do not receive your Certificate of Completion, please e-mail webinarinquiries@thompsoncoburn.com

Steve Gorin

For technical materials supporting the slides, please see Steve's newsletter.

Originally Presented:
April 24, 2023