05.04.2023 - IDGT
How to use Intentionally Defective Trusts (IDGTs) for Wealth Transfer
Presented by Steve Mancini, Esq.,
In this webinar estate planning attorney Steve Mancini, helped listeners to understand how IDGT’s are used, when they are appropriate, and when they are not. The intentionally defective trust is a wealth-transferring device used by larger estates. It is an irrevocable trust that has been carefully drafted to cause the grantor to be taxed on trust income yet have trust assets excluded from the grantor’s estate. Such a trust can offer multiple planning opportunities and benefits, particularly when combined with both gifts and installment sales.
"How an IDGT can be used strategically—reduces estate assets and future growth—taxable to grantor—loans available—gifts to medical and educational institutions not counted against federal estate exemption."
"I didn't know that LLC and LP shares can fund an IDGT!"
"I like the way Steve broke down an engagement into four components. Now it is something I would consider for my practice."
"I never realized how easy these trusts are to set up, as long as you have good documentation and attention to detail."