Alan Gassman - Dynamic Planning with Irrevocable Trusts After TRA 2017

Date: Wednesday, October 21, 2020
Time: 7:45am - 9:30am
Location: Zoom Sponsored by Wells Fargo Private Bank
Speaker: Alan Gassman

Alan S. Gassman, J.D., LL.M. is a board certified estate planning and trust lawyer who practices in Clearwater, Florida.  He has an LL.M. in taxation from the University of Florida, and practices in the areas of trust and estate planning, taxation, wealth preservation, and the representation of physicians and medical practices.

Mr. Gassman speaks at many tax conferences, national programs and national and local webinars, including Bloomberg BNA Tax and Accounting, the Notre Dame Tax and Estate Planning Institute and at many other conferences and webinars.

October 21, 2020, presentation summary:

While almost all estate planners have an established repertoire for irrevocable trusts, many of us are not making established and needed structures available to clients.

These include trusts which have business, income tax, and litigation avoidance purposes, such as the following:

  • To obtain a new income tax basis on the death of a family member.
  • To establish the expectation or entitlement to an inheritance if a parent or grandparent does not need the business or asset to support themselves.
  • To prevent carnivorous third parties or other relatives from exerting undue influence or allowing dementia or other mental states to cause an inheritance to go other than intended.
  • To prevent an individual or individuals from engaging in high-risk investment activities, carelessness, or being misled by ne'er-do-well advisors.
  • Avoiding federal estate tax while using trusts that may benefit the donor.
  • Benefitting charities in a way that will enhance family wealth, financial well-being, and relationships.

This presentation will review a number of strategies, tax and legal rules, and practical wisdom to enable estate, tax, and financial planners to have a greater menu to draw from, and more substantial knowledge with respect thereto.



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