Jerald David August will present "When A Tax Goes Unpaid: Understanding Fiduciary and Transferee Liability" at the American Law Institute

Why You Should Attend

Unbeknownst to many beneficiaries and fiduciaries, when a tax goes unpaid by a decedent, the IRS can hold donees, fiduciaries, or transferees personally liable for the amount owed. 

If a taxpayer, including an estate, fails to pay federal income, gift, or estate taxes in full, the IRS has the authority to collect from the executor or fiduciary of the taxpayer’s estate or from a transferee of taxpayer’s property – even if the amount of the tax exceeds the value of the property at the date of transfer. Too often, trust and estate clients fail to understand their potential personal liability for a decedent’s/grantor’s unpaid taxes until it is too late.

What You Will Learn

Get the information and practical planning strategies you need to advise your estate and trust clients and protect their interests from this potential tax exposure. This all-new webcast explores the hazards of transferee and fiduciary liability, including when the obligation to pay the cost of any unpaid gift and estate taxes on the decedent's property may be triggered and how to safeguard against it. 

Topics include:

  • When the IRS may hold a donee or beneficiary of an estate personally liable for the unpaid taxes of the donor/decedent
  • Special tax liens under 26 U.S.C. Section 6324 for unpaid gift and estate taxes on property received from the donor/decedent
  • The importance of Federal and state law on fraudulent conveyances in a transferee or fiduciary liability case
  • Fiduciary liability in a business organization context

Have a question for the faculty? Send your questions to Questions submitted during the program will be answered live by the faculty. In addition, all registrants will receive a set of downloadable course materials to accompany the program.

Who Should Attend

This program will benefit estate planners, tax advisors, business lawyers, trust administrators, and related professional service providers.

Click here to register for the event.

July 11, 2017 at 12pm - 2:15pm