Post-Mortem Estate Planning and Elections
If one has a sophisticated understanding of the intricacies of estate
tax, it is possible through post-mortem planning to substantially
“revise” the decedent’s Will to either correct errors or simply to take
advantage of events that are present at the decedent’s death.
This can be done through various elections, the most significant of
which involves the use of “disclaimers” which can generate substantial
tax savings. There are many other opportunities for tax-reduction in
the estate planning process, including the QTIP election, the
appropriate allocation of generation-skipping exemptions and the
deduction of estate administration expenses. In addition, the
interrelationship among the federal estate tax, the new Maryland estate
tax and the Maryland inheritance tax provide opportunities for tax
savings in the administration process. These decisions can have
significant tax-savings and ramifications for generations beyond the
decedent’s death.
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Aryeh's AIPAC Presentation of June 1, 2008
