The Baker McKenzie Global Wealth Management Subpractice Group is presenting a series of short webinars to keep members of the community abreast of recent developments in these uncertain times. On 10 November 2020, the topics focused on during the webinar were “Giving it away piece by piece: an update and discussion on conservation easement deductions from planning and controversy perspectives” and “US domestic planning opportunities amidst crisis”.
This webinar provides an overview of the rules governing conservation easement charitable deductions, discusses the tax advantages of and the requirements for donating a conservation easement, and review the latest developments in the litigation of conservation easements.
Also, with the recent economic downturn resulting in the lower valuation of businesses and assets, and record low US federal interest rates, as well as a political shift that could spell the end to the death of step-up in basis on bequests and the generous USD 11.58 million lifetime unified credit amount for US gift and estate tax purposes. We discuss several family planning techniques that US citizens and domicilaries might want to consider given the current economic and political climate.
Click here to view the recorded webinar.
Click here to download the material.