Ownership of Cooperative Apartments and Condominiums by Trusts:
An Overview of Popular Trusts and Obtaining Transfer Approval from Cooperative Boards (OnDemand)
Originally held on Thursday, November 14, 2019 | 6:00 p.m. - 8:00 p.m.
Program Fee:
OnDemand: $149 for Members | $249 for Nonmembers
Members who are Recent Law Graduates, Newly Admitted Lawyers (admitted
for the first time in any state or country 2017-2019),
In-House/Corporate Counsel, Judges, or attorneys that practice within
the Government, Academic or Not-for-Profit sectors attend this program
for free.
CLE Credit:
New York: 2.0 Professional Practice
New Jersey: 2.4 General
California: 2.0 General
Pennsylvania: 2.0 General
This program provides transitional/non-transitional credit to all attorneys
Description:
This course presents an overview of estate planning under the 2017 Tax
Reform Act and its temporary doubling of the Federal estate, gift and
generation-skipping tax exemptions. It covers the more common types of
trusts and trends in transfer requests for permission to transfer
apartments to such trusts, including Grantor Trusts, Qualified Personal
Residence Trusts, Spousal Lifetime Access Trusts and Dynasty Trusts. It
describes the tax attributes of these trusts and why some trusts are
more effective, as a result of recent tax changes and the current
interest rate environment. It forecasts which trusts will likely be more
popular under the 2017 Tax Reform Act.
The program will discuss the role of counsel to coop boards in reviewing
these requests and how practitioners can structure their trusts to
increase the likelihood of approval. It will also address cooperative
and condominium requirements when owning an apartment in a trust.
Specifically, the speakers will discuss what documents will be reviewed,
whether attorneys’ opinion letters will be necessary and whether
buildings require ancillary documents such as guaranty, occupancy
agreement or escrow.
Click Here to View Program Agenda & Faculty
Program Co-Instructors:
Dale J. Degenshein, Armstrong Teasdale LLP
Anita S. Rosenbloom, Stroock & Stroock & Lavan LLP
Lois Tilton, Perkins Coie LLP
Sponsoring Association Committees:
Estate & Gift Taxation, David E. Stutzman, Chair
Cooperative & Condominium Law, Margery N. Weinstein, Chair