Key Tax Elections in Probate

Agenda / Content Covered

2:00 - 3:30, Michael G. Zapson

1. Key Elections: IRS Form 1040, Form 1041, and Form 706
2. Selecting a Tax Year (and the §645 Election)
3. Medical Expenses
4. Funeral and Burial Expenses
5. Estate Administration Expenses - What's Deductible?
6. Outstanding Debts/Claims, Mortgages
7. The Unlimited Marital Deduction
8. Charitable Donations
9. Valuation Elections (for Federal Estate Tax Purposes)
   1. Alternate Valuation Date (§2032)
   2. Special Use Valuation (§2032A)
   3. Tax Deductions for State Estate or Inheritance Taxes
   4. Elections Under §6166 and §303 of the Code
10. Unused Spousal Exemption Amount, Portability
11. Not-So-Common Elections and Hidden Gems
12. Hypothetical Scenarios
13. Executor Liability for Lost Tax Savings

Accreditation Details:

Michael G Zapson is a partner at Certilman Balin Adler & Hyman LLP. He concentrates his practice in the areas of commercial and estate litigation, real estate and zoning. Mr. Zapson represents real property owners, national companies, developers, purchasers, REITs, lenders and brokers. He is a member of the Long Beach Lawyer’s Association, the Nassau County Bar Association, and the Association of the Bar of the City of New York. Mr. Zapson is admitted to practice in New York, Washington D.C, and the U.S. District Courts for the Southern, Eastern and Northern Districts of New York. He earned his B.A. degree from Cornell University, and J.D. degree from the State University of New York at Buffalo.