Sales to Intentionally Defective Grantor Trusts with Self-Canceling Installment Notes
A note sale of an appreciating asset to an Intentionally Defective Grantor Trust (IDGT) is a planning strategy that can help to minimize estate and gift taxes. An individual sells their assets to the IDGT, commonly using an installment note at fair market interest. A potential disadvantage of an installment sale to a grantor trust is the potential inclusion in the seller’s estate of the unpaid obligation at its fair market value on the date of the seller’s death. One way to avoid this problem is to use a self-canceling installment note (SCIN), containing a provision canceling any future payment amounts upon the death of the holder. The webinar will discuss IDGTs, the sale of assets to the IDGT using self-cancelling installment notes, the risk premium associated with a SCIN, and the advantages/disadvantages of this planning strategy.
Attendees will gain an understanding of:
- What an IDGT is, its advantages and disadvantages, and how it can be used to help minimize estate and gift taxes
- Which assets are ideal as part of the IDGT strategy
- What a SCIN is, its advantages and disadvantages, and how it can be used as part of an IDGT strategy
Stephen Coskran, CLU is an Advanced Markets Consultant in the Business Resource Center of Guardian Life Insurance Company. For the past twenty years, he has worked as an internal and external life insurance wholesaler and advanced planner. Previous to Guardian, he spent the past four years working exclusively with wire-house representatives across the country customizing point of sale and client seminars. His consultations focused on business succession and high net worth insurance planning with an emphasis on estate, legacy and charitable planning by building individual advanced case design. He has an extensive knowledge of life, disability, and long term care products and sales concepts.
1 CFP® credit, 1 CPE (accounting) credit, and 1 Professional Recertification (formerly PACE) credit have been approved.
$5.00 fee per credit.
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