Ownership of Cooperative Apartments and Condominiums by Trusts:
An Overview of Popular Trusts and Obtaining Transfer Approval from Cooperative Boards
Thursday, November 14, 2019 | 6:00 p.m. - 8:00 p.m.
Prefer to attend the live program? Please CLICK HERE.
Program Fee:
Live Webcast: $199 for Members | $299 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