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EPCNYC: Evening Program & Dinner
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EPCNYC's last evening program for the 2014-2015 year with Jonathan Blattmachr.

3/26/2015
When: 3/26/2015
5:30 pm - 8:00 pm
Where: The Yale Club
50 Vanderbilt Avenue
New York 10017
Presenter: Jonathan Blattmachr
Contact: Sara-Becca Smith
855.293.0784


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Join the Estate Planning Council of New York City for the fourth and final evening program of the 2014-2015 Membership year! We will be closing out the evening programs with Jonathan Blattmachr and his presentation on

SEARCHING FOR BASIS IN ESTATE PLANNING

Basis has always been important in estate planning. The fundamental distinction between the carryover basis for gifts and the step up in basis for inherited property is understood to be a key factor in evaluating planning steps. Thus, for example, people will often postpone a sale of property if death is on the horizon in order to secure the step up in basis. Until recently more attention was focused on estate tax than post death income tax consequences. The main reason was the rate differential – by way of example, in 2004 the top estate tax rate was 48% (with a $1.5 million exemption) while the top long-term capital gains tax rate was 15%. In addition, capital gains tax will not be imposed until an asset is sold so it is not clear when or even whether the donee will be subject to that tax. As a result, wealth transfer tax savings virtually always trumped income tax considerations. But the federal estate tax exemption equivalent is now $5,340,000 (and will be increased for inflation in future years) and the top federal estate and gift tax rate is 40%. Meanwhile the capital gains tax rate is 23.8% (including the Affordable Care Act surtax under IRC 1411) at the federal level, and 28.7% on average in total if state capital gains taxes are taken into consideration. As a result, basis has stepped into the foreground.

About our Speaker

Jonathan G. Blattmachr is a Principal of Pioneer Wealth Partners, a boutique advisory firm dedicated to developing and implementing innovative wealth and income, gift and estate tax planning strategies on behalf of high net worth individuals and families. He is Director of Estate Planning for the Alaska Trust Company and co-developer of Wealth Transfer Planning, a computerized system for lawyer offering document assembly for Wills and other document and specific client advice using artificial intelligence. Mr. Blattmachr brings over 35 years of experience in trusts and estates law. He is a retired member of Milbank Tweed Hadley &McCloy, LLP, and the Alaska, California and New York Bars. Mr. Blattmachr has been recognized as one of the country’s most creative trusts and estates lawyers. He writes and lectures extensively on estate and trust taxation and charitable giving and has authored or co-authored seven books and over 500 articles on estate planning topics.

Mr. Blattmachr has served as a lecturer-in-law of the Columbia University School of Law and as an Adjunct Professor of Law at New York University Law School in its Masters in Tax Program (LLM). He is a former chairperson of the Trusts & Estates Law Section of several committees of the New York State Bar Association and the American Bar Association. Mr. Blattmachr is a Fellow and a former Regent of the American College of Trust and Estate Counsel and past chair of its Estate and Gift Tax Committee. Among professional activities, which are too numerous to list, Mr. Blattmachr has served as an Advisor on The American Law Institute, Restatement of the Law, Trusts 3rd; and as a Fellow and Director of The New York Bar Foundation and as a Fellow of the American Bar Foundation.

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