Tuesday, November 17, 2015 | 6:00 pm – 8:00 pm
Anita Rosenbloom
Stroock & Stroock & Lavan LLP
Mary Sembrot Croly
McLaughlin & Stern LLP
Eva Talel
Stroock & Stroock & Lavan LLP
This course presents an overview of changes in the Federal estate, gift and generation-skipping taxes, as well as a description of more common types of trusts and trends in transfer requests for permissions to transfer apartments to such trusts, including Grantor Trusts, Qualified Personal Residence Trusts, Spousal Lifetime Access Trusts and Dynasty Trusts. It covers the tax attributes of these trusts and why some trusts are more effective, as a result of recent tax changes and the current interest rate environment. It also discusses the role of counsel to Coop Boards in reviewing these requests and how practitioners can structure their trusts to increase the likelihood of approval.
Live Program:
$199 Member / $299 Nonmember
Program Faculty:
Anita S. Rosenbloom
Stroock & Stroock & Lavan LLP
Mary Sembrot Croly
McLaughlin & Stern LLP
Eva Talel
Stroock & Stroock & Lavan LLP
| 6:00 pm – 6:05 pm |
Introduction Anita S. Rosenbloom |
| 6:05 pm – 6:20 pm |
Overview Recent developments in Federal and New York estate, gift and generation-skipping taxes and corresponding trends in requests for permission to transfer apartments to popular trusts Anita S. Rosenbloom |
| 6:20 pm – 7:10 pm |
Description of Popular Trusts, Tax Attributes and Planning Considerations A. Grantor Trusts B. Qualified Personal Residence Trusts C. Spousal Life Time Access Trusts D. Dynasty Trusts E. Testamentary Trusts and Trusts Created by Third Parties F. Planning Considerations 1. Basis 2.Fractional Interest Discounts 3.Fair Market Rent 4. Gifts versus Sales 5. Reciprocal Trust Issues Mary Sembrot Croly and Anita S. Rosenbloom |
| 7:10 pm – 7:30 pm |
Obtaining Approval of Cooperative Boards A. Role of Counsel B. Documents Commonly Requested By Cooperative Corporations C. Frequent Issues 1. Spendthrift Provisions 2. Fractional Ownership 3. Rent/Subletting 4.New York State and New York City Transfer Taxes 5.Coop and Condominium Real Estate Tax Abatement and Exemptions 6. STAR Exemptions 7.“Flip Taxes” D. Condominiums Eva Talel |
| 7:30 pm – 8:00 pm |
Planning Workshop/Question/Answer Session Mary Sembrot Croly and Anita S. Rosenbloom |
CLE Credit
NY: 2.0 professional practice
NJ: 2.4 general
CA: 2.0 general
PA: 2.0 general
NY CPE Credit:
2.0 total: 1.0 taxation & 1.0 advisory services
Save $$ on DVDs & CDs
*DVDs: $199 Member/ $299 Nonmember
*CDs: $149 Member / $229 Nonmember
*Materials Only (no CLE credit): $99 Member / $129 Nonmember
* New York residents will be charged the New York sales tax for all audio visual purchases.
Sponsoring Association Committee: Estate & Gift Taxation, Paul A. Ferrara, Chair
Sponsorship Opportunities are Available! Please Contact:
Laura Stine Poles, Program Attorney, City Bar Center for CLE | (212) 382-6619 | lpoles@nycbar.org
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