April Breakfast Meeting - Grantor Trust Status

Date: Wednesday, April 18, 2018
Time: 7:30am - 9:00am
Location: Adele's Cafe & Bistro - Carson City
Speaker: Sarah E. Baley, Esq.

As the estate tax exemption has grown and federal and state income tax rates have risen over the last decade, estate planning professionals must be knowledgeable about how income taxes can impact estate plans. 

By utilizing IRC Code Sections 671-677, trusts become grantor trusts and their income is taxed to the grantor, rather than to the trust or to the beneficiaries.  Financial Professionals, whether in accounting, financial planning or legal drafting need to understand how these code sections can impact a financial plan, tax returns, or other estate planning strategies.  Learn these powers and how they can be strategically used or avoided to change the income taxation of your trusts. 

Sarah Baley is an associate at McDonald Carano in the firm’s Trust Estate and Wealth Preservation group. She works closely with individuals and families to create estate plans that minimize income and transfer taxes with the goal of preserving and transferring wealth.  Through the use of various estate planning vehicles, including revocable living trusts, charitable trusts, and family limited partnerships, Ms. Baley designs estate plans that are tax efficient and tailored to her clients’ needs.  Her work includes business succession planning, tax planning, traditional estate planning, planning for incapacity, probate and trust administration, charitable giving, and entity formation and dissolution. Whether in the realm of estate planning or trust and estate administration, Ms. Baley has the unique ability to present complex concepts clearly and concisely.

Ms. Baley has received her LLM in taxation from New York University, her JD from University of Texas School of law and holds a Bachelor of Arts in Spanish from Davidson College.

Ms. Baley is a member of the Estate Planning Council of Northern Nevada, where she serves on the Programs Committee, and a member of the Planned Giving Round Table of Northern Nevada. Ms. Baley is also a member of the Reno Junior League, where she serves on the New Members Committee, and a member of the Board of Directors for the Nevada Women’s Fund, where she serves on the Development Committee.

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